In 2023, the salary of senior officers will increase more than last year, revealed in the study


In the year 2023, the salary of senior officers may increase more than last year.
This year, the salary of senior officers is estimated to increase by an average of 9.1 percent.
During the last four years, the salary of senior officers has increased by 21 percent.

New Delhi. In the year 2022, the salary of senior officers of companies registered a higher increase than the rest of the employees. During this, there was an average increase of 8.9 per cent in his salary. According to a study, in the year 2023, the salary of senior officers in India may increase more than in 2022. This year, their salary is expected to increase by an average of 9.1 per cent.

According to data from Aon India’s 12th Executive Rewards Survey 2022-23, the current average salary of CEO level executives is Rs 8.4 crore. In which there has been an increase of 21 percent during the last four years. In this report, the data of 519 companies from more than 25 industries has been analysed.

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What came out in the study?
Aon is a global professional services firm. It has found in the study that in the top 30 companies of the Bombay Stock Exchange, the Long Term Incentive (LTI) is 176 per cent of the fixed salary for the rest of the executives including chief operating officer, chief financial officer and 103 per cent for the rest of the C-level executives. Is. The study further states that compensation, and the governance associated with it, continues to be an urgent issue for employers. Because they always try to create and maintain a flexible workforce.

What is the opinion of the expert?
Nitin Sethi, CEO of Human Capital Solutions India and South Asia at Aon, says that the increase in salaries of senior executives continues to focus on risk. This emphasizes on rewarding the executives for their contribution in increasing the value of the company. He further explained that in the rapidly evolving volatile business environment, companies want to adopt executive pay programs. They are cost effective and help in giving good results in the business in the long run.

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