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Our Bureau

New Delhi, Aug. 21

Companies in the financial services, IT and media industries have witnessed a huge rise in the wage bill, according to a study carried out by Assocham.

The study, which compares the wage bill for the April-June period of the current year with the corresponding period of the previous year, also says that employees in the three industries have a higher propensity to change jobs seeking better wages and that poses a challenge for personnel managers.

The study finds that the financial services sector had to bear a higher salary cost of 54.73 per cent for the period. This was closely followed by IT that witnessed a rise of around 44 per cent. The media firms, including those engaged in production of television serials and commercial films, were the next in paying higher wages, with wage bills going up by 29.56 per cent. In addition to these industries, pharma, automobile and steel companies too faced rising wage bills, according to the study.

More Stories on : Human Resources | Industry Associations

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