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10-15% moderation in salaries not to impact lending practice: HDFC Bank

10-15% moderation in salaries not to impact lending practice: HDFC Bank

Finance
MUMBAI: Expecting discretionary spending to return in the next few months, private lender HDFC Bank on Wednesday said a 10-15 per cent moderation in salaries will not lead to an overhaul of consumer lending practices though some prudence might be in order. A pent-up demand for vehicles and social distancing needs, coupled with the introduction of digital inputs to manage customer journey by banks will lead to a faster uptick in auto sales, which were sagging before the lockdown and came to a standstill in the last two months, the bank's country head for retail lending Arvind Kapil said. Unemployment has touched record highs since the beginning of the lockdown nearly two months ago, and corporates have reportedly adopted measures like wage cuts in the face of the difficulties businesses a...
Salaries in India likely to rise by 9.2 pc in 2020; inflation-adjusted real-wage at 5 pc: Report

Salaries in India likely to rise by 9.2 pc in 2020; inflation-adjusted real-wage at 5 pc: Report

Finance
NEW DELHI: Employees in India are expected to see 9.2 per cent salary growth in 2020, highest in Asia, but inflation may play a spoiler as real-wage salaries in the country is anticipated to be just 5 per cent, a report said on Monday. According to Korn Ferry Global Salary Forecast, India's salary growth for 2020 stood at 9.2 per cent down from 10 per cent last year, while real-wage after adjusting inflation may remain constant at 5 per cent in 2020. The report added that India has emerged as the leader of salary growth projection in Asia. "India has posted a strong growth despite real wages taking a hit globally. With current economic scenario and progressive reforms by the government, there is a sense of cautious optimism across sectors in India that continues to show high salary increme...
It’s confirmed: For private sector salaries, this was the worst year in a decade

It’s confirmed: For private sector salaries, this was the worst year in a decade

Finance
If your salary hike this year was nowhere close to what you were hoping for, don't let it leave you feeling left out: You are hardly the only one to be left high and dry. Data from CMIE has just confirmed that appraisals were low everywhere in this season of discontent as Indian employers across the board firmly drew a line on their salary outgo. With sales numbers falling all around, private sector salary growth in the country in 2018-19 was the worst in 10 years (since 2009-10), a Hindustan Times analysis of CMIE's Prowess Database found. This, along with relevant data from critical sectors, serves to provide a clear peek into the state of the Indian economy and the hands that run it: the worker. Double whammy or triple? Combined with rising unemployment, the fall in salary growth makes ...
Salaries in India to increase by 10% in 2019: Report

Salaries in India to increase by 10% in 2019: Report

Finance
Workforce in India have something to cheer about. India is likely to lead salary growth forecast in Asia, according to a Korn Ferry forecast. Salaries in India are expected to increase by 10% in 2019 as compared 9% last year and inflation-adjusted real-wage increases are expected to be 5% in 2019, up from 4.7% last year. “Consequent to rapid economic growth, India continues to enjoy the highest overall salary increases and real-wage growth in Asia. While inflation indices are a solid benchmark for reviewing market trends in pay, we recommend that companies take a broader perspective to define their business strategy and cost drivers in view of increasing automation, use of new technology and the rising demand for skilled workers," Navnit Singh, Chairman & Regional Managing Direc...
Most Americans aren't happy with their salaries. Here's how to change that

Most Americans aren't happy with their salaries. Here's how to change that

Finance
Asking for a raise: Women vs. men Salary isn't the only factor that can determine our happiness at work, but it's a big one, for sure. Unfortunately, 65% of full-time workers don't earn the salary they want, according to CareerBuilder, and a big reason boils down to the fact that they haven't asked for more money. Specifically, 56% of employees say they've never requested a raise — but 66% of those who have asked received one. If you're dissatisfied with your earnings, you shouldn't hesitate to make the case for a higher salary. Here's how to pull off that conversation successfully. 1. Know your worth It's one thing to think you're making less than you should be, but it's another to back up that claim with numbers. Going into a raise negotiation with firm data wi...