A Study of Trends in Compensation Structure and Salary Increments
The 2023 CXO Increments Survey Report presents an analysis of trends in increments and people costs in FY23 (actual) and FY24 (projected). About 200 organisations across sectors and of varying sizes and ownership participated in the survey, which was conducted in February 2023. The report covers the following areas:
Total People Cost (CTC)
- Average CTC trend in FY23 and FY24
- Change in people costs by sector, ownership, orientation, industry, revenue/PAT growth and company size
Factors Determining Increments
- Key determinants of increments by sector, ownership, orientation, industry, revenue/PAT growth and company size
Delta over Market
- Average CXO pay compared to industry/peer-set and splits by sector, ownership, orientation, industry, revenue/PAT growth and company size
Pay Increments
- Average increments planned for FY23 and FY24 for 14 top and senior management positions
- Increments trend by fixed pay and CTC for FY23 and FY24
- Increments to CTC ratio for each management level and splits by sector, ownership, etc
The report helps to:
- Identify trends in salary increments across management levels
- Understand how compensation budgets are likely to change
- Establish benchmarks for compensation to executives based on leading industry
- practices and detailed peer comparisons
- Develop genuine forecasts to optimise costs and budgets
- Recognise salary increment differentials across executive levels
Table of Contents
1. Introduction and Overview
- Scope and methodology
- Company demographics
- Glossary of terms
- Executive summary
2. Organisation-wide Trends
- Trends in People Costs - FY23 and FY24
- Factors Determining Increment Decisions
- Delta-over-market
3. Trends in Increments:
- Salary Increments in FY23 and FY24 for 14 top and senior management levels
- Increments to CTC: FY23 and FY24: For Mean, 25 Percentile Companies for the following positions:
- Chief Executive Officer (CEO)
- Chief Financial Officer (CFO)
- Chief Human Resources Officer (CHRO)
- Chief Operating Officer (COO)
- Business Heads (such as President)
- Chief Marketing Officer (CMO)
- Chief Digital Officer (CDO)
- Chief Information Officer (CIO)
- Chief Technology Officer (CTO)
- Chief Risk Officer (CRO)
- Chief Legal Officer (CLO)
- Chief Growth Officer (CGO)
- Chief Supply Chain Officer (CSCO)
- Chief Sustainability Officer (CSO)
Detailed 7-way across tabs by revenue, ownership, sector, domain, orientation, revenue and PAT growth
Samples
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