This trend applies up to two to three levels below a CEO, says A Rabindranath, Delhi head, CRG (India). And it's most prominent in a treasury or a finance capital job. Rabindranath says that two to three years ago salaries went up across all functions in most organisations. Then, retrenchment happened due to various reasons. Thereafter salary increases came down. But in this cycle of events, the rest of the organisation is not able to reach up to the functional area of finance, in terms of salary.In other words, somebody at the same level in ITor HR is unable to match the finance person's extraordinary compensation package. That does not mean, however, that finance across all levels is commanding such a premium, it's only at the higher levels. Why then does an IT job command a higher salary than one in finance at the entry level? Says Rabindranath: ``In IT, it's the skill as a programmer which is important, whereas strategy plays a significant role in finance.'' And a programmer is usually an entry-level person, while only a senior finance person can be involved in strategic decisions of the company, he adds. Therefore, as one goes up in a finance job, his strategies play a vital role for the organisation. And that is recognised in the form of higher salaries.

Agreeing with this view point, A Sudhakar, director (HR), Ernst & Young, says that a finance person assumes a strategic role as he goes up the ladder. In contrast, a software person is basically a line person with skills. And usually, an IT professional benefits if he diversifies and movesto areas such as business development, Sudhakar adds.

One of the reasons for premium on a top finance job is that many Indian companies are preparing to be listed on the Nasdaq. This calls for years of preparation, with expertise in accounting techniques, says Rabindranath. He adds that a company gains immensely by joining the Nasdaq, thereby the craze. And finance-software is, therefore, an ideal combination for the top post in any organisation today, he says.

Like it was a boom time for the lead assessors for ISO 9000 some time back, the same rush is for Nasdaq listing now, says Rabindranath. And naturally, the finance professionals at higher levels will stand to gain. Why then has finance not done so well this year in B-school placements? Rabindranath says that the strategies for which the finance people at the top level are being paid so high cannot be taught at any institute.

In the age of consolidation, shakeout and transparency, the way an organisation is structuring its finances holds the key toits success, says Rabindranath. And for that, new concepts in finance and accounting, sound knowledge of global practices, and loads of on-job experience work wonders. No wonder then that the strategic finance people are the pillars of any company.