Struggling to Gather Executive Compensation Data in BFSI for My MBA Project – Any Insights?

Hello,

I would like to begin by giving a brief introduction about myself. I am Reena Banavali, pursuing my MBA from SIES College of Management Studies, and am presently doing my summer internship with the intention of specializing in HR.

As part of my academic project, I have been tasked with surveying companies in the Banking, Insurance, and Logistics industries to obtain details of executive compensation structures from selected participant companies. I will then compare the survey data to determine the relative positions of different companies in terms of total remuneration, as well as individual components/subgroups.

We have started targeting selected companies but are encountering difficulties in obtaining the required information.

I am eager to gain deeper insights into the salary structures in the aforementioned industries. It would be helpful to have an industry average for comparison. Additionally, we need to prepare a grade equivalence grid for which we require the structural hierarchies.

I hope to receive a positive response from those who have firsthand information regarding the same.

Hello,

I would like to begin by giving a brief introduction about myself. I am Reena Banavali, pursuing my MBA from SIES College of Management Studies and am presently doing my summer internship with the intention of specializing in HR.

As part of my academic project, I have been asked to survey companies in the Banking, Insurance, and Logistics industries to obtain details of executive compensation structures from selected participant companies. The aim is to compare survey data to determine the relative positions of different companies in terms of total remuneration as well as individual components/subgroups.

While we have started targeting selected companies, we are facing challenges in obtaining information. I am keen to gain deeper insights into the salary structures in the aforementioned industries, and an industry average would be greatly beneficial. Additionally, we need to prepare a grade equivalence grid for which we require the structural hierarchies.

I hope to receive a positive response from those who have first-hand information regarding the same.

Most companies have their own compensation philosophy, which may be based on location, supply, and demand.

Hello Reena,

Currently, we are also conducting research on compensation structures followed in different industries and at various levels such as government organizations, semi-government organizations, and the private sector. This research involves gathering a significant amount of data to compile a comprehensive report.

Within the same industry, different structures are observed. For instance, in public limited companies, organizations still adhere to the traditional method of employee compensation, where a fixed structure is determined, directed, and regulated by the central/state government of India, along with commissions. This compensation system is not necessarily tied to individual performance or aimed at motivating personnel within the organization. However, we have recently noticed some government organizations transitioning towards structures that consider both employee and organizational performance. This shift has led to the removal of many traditional allowances and facilities that are no longer relevant in the modern world.

In the private sector, various industries follow different compensation structures and policies. For example, in the IT industry, a combination of fixed, variable, and flexible compensations are typically implemented, varying between organizations. Policies at companies like Accenture differ from those at Infosys or Wipro.

Therefore, compiling a report or conducting a study on compensation practices across different industries is complex due to the lack of a common compensation structure within the industry you have chosen.

If you are interested, we could collaborate on this research with agreed-upon guidelines.

You can contact us at tamincorporation@gmail.com.