While most corporates are thinking of right-sizing the compensation to their employees as the Indian economy takes a swing, the media and entertainment (M&E) industry is witnessing a good growth in salary structures. According to experts, at the CEO level, salaries in the M&E space remain robust, owing to the high growth witnessed in this segment. CEO salaries in M&E is at present in the range of Rs 1.2 to 1.5 crore per annum.
However, the M&E industry, also called the ?talent? industry, may take a hit at the middle level and junior level (functional heads and regional heads) salaries. Experts say that this is a temporary phase for the next six to eight months.
Says Tapesh Sengupta, MD of headhunting firm CHR Global Consultancy, ?The middle level manager, who easily got Rs 60-65 lakh per annum last year, today gets Rs 40-45 lakh per annum.?
Print, films and radio are witnessing a hike in the salary of employees at an early stage, but experts feel that it is reaching stagnancy.
?With so many radio stations entering the space, the salaries are hyped as much as 50 to 60% but I think it is reaching stagnancy now,? said a programme director of a radio station on condition of anonymity.
PricewaterhouseCoopers’ ‘The Global Entertainment and Media Outlook 2008-2012’ forecasts a Compound Annual Growth Rate (CAGR) of 18.5 % for India and pegs the industry at around $36,331 million in 2012. The report further added that India will grow at the fastest pace in the entertainment and media (E&M) space in Asia-Pacific in five years.
With so many new players entering the M&E space, the growing demand and shortage of good talent is expected to impact the salaries of employees in this sector.
