Hiring at the top level management across sectors is back thanks to improved market conditions. Companies have started hiring for key top level positions including managing directors, chief executive officers, chief financial officers and chief operating officers to mid-level executives in execution and sales departments.
Sectors such as infrastructure, real estate and consumer goods are currently very active in hiring and are creating new positions as their business expands. Pay packages, at the same time, have returned to the same levels as they were before the downturn.
?Replacements at the top management levels are happening and new positions are also being created. We are witnessing a 15-20% jump in salaries when compared to last year (2009-10),? ABC Consulting CEO Shiv Agarwal said.
According to experts, a CEO or MD in the infrastructure sector and financial services is offered Rs 1 crore to Rs 3 crore per annum. The top management in real estate and pharma would draw anywhere between Rs 75 lakh to Rs 1.5 crore.
However, with not much hiring activity happening in the media and entertainment, top level salary in this space range between Rs 75 lakh to Rs 2 crore. Similarly, manufacturing sector is offering Rs 50 lakhs to Rs 1.2 crore at the top level positions.
The job market remains robust in India on strong domestic growth and recovery in key global markets. According to staffing services firm Manpower’s Employment Outlook Survey, in the next quarter, public administration and education sector in India is expected to witness the highest net employment outlook of 45%, followed by services (40%) and finance, insurance and real estate (34%).
Orbit Corporation Ltd MD & CEO Pujit Aggarwal said, ?We are creating more positions as our business is expanding. The expectation of the candidates have gone up and we are witnessing a salary growth of 20-40% at the top level depending on the market conditions and individual performance.?
Sajjan Jindal-led JSW group, which is currently doing selective hiring including replacement hiring, is witnessing that the candidates at the top management level are willing to leave its current position if they are firmly placed in their present organisation. Anirudh Singh, senior vice-president-corporate HR, JSW Steel, told FE, ?For new recruits, the candidates at the top level are expecting minimum of 20-40% rise in salary plus ESOPs and other perks which could add to their wealth.?