Dear Seniors,
What should be the approximate remuneration that would be payable to the below designations who would be working in a Manufacturing Company (Automotive segments) having a turnover of approximately Rs 10 to 12 Crores.
Managing Director
Manager HR
Further, if the Managerial staff in this Company would be withdrawing a salary of around Rs 4 to 5 Lakhs. In those terms, do we have any ratio of Managerial staff Salary to Managing Director's Salary in a Mid-Sized Manufacturing Company.
Regards,
S V Erady
From India, Pune
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What should be the approximate remuneration that would be payable to the below designations who would be working in a Manufacturing Company (Automotive segments) having a turnover of approximately Rs 10 to 12 Crores.
Managing Director
Manager HR
Further, if the Managerial staff in this Company would be withdrawing a salary of around Rs 4 to 5 Lakhs. In those terms, do we have any ratio of Managerial staff Salary to Managing Director's Salary in a Mid-Sized Manufacturing Company.
Regards,
S V Erady
From India, Pune
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What salary range you are planning to give to above designation so that we can help you out!!!!
From India, Pune
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47From India, Pune
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Dear Prashant,
I have to give a recommendation to my client on the salary range they can consider. As I work in the service industry, I do not have much knowledge about the automobile domain. However, would the below information help you suggest an approximate range:
- The candidate for the MD position has a total of 18 years of experience and holds a postgraduate degree in Engineering.
- The individual for the HR role has 3.5 years of relevant experience and is an MBA.
Regards,
SV Erady
From India, Pune
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I have to give a recommendation to my client on the salary range they can consider. As I work in the service industry, I do not have much knowledge about the automobile domain. However, would the below information help you suggest an approximate range:
- The candidate for the MD position has a total of 18 years of experience and holds a postgraduate degree in Engineering.
- The individual for the HR role has 3.5 years of relevant experience and is an MBA.
Regards,
SV Erady
From India, Pune
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Dear Sverady, I was searching something similer to your requirement over Cite HR and sharing what I found with you. Hope it will help you in some way. Kavita
From India, New Delhi
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From India, New Delhi
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Hello S V Erady,
I work in Dubai. In Dubai, we participate in submitting our company data to consultants (such as HayGroup, Mercer, etc.) who conduct market surveys on salary and HR practices and submit a report to all participating clients on salary ranges for benchmark positions and the best practices. They also classify the report for different industries such as Oil & Gas, FMCG, Multinational, Government, etc.
This will be good guidance and a tool for Compensation & Benefits professionals to make suitable recommendations to management regarding any specific positions in line with market pay.
Although I didn't provide a direct answer to your request, I hope you find it useful. I would also like to know if a similar practice exists in Mumbai/Pune/India. If yes, please share the processes with some consultant names and what the charges are.
Thank you and best regards,
Nellaiappan S Pillai
HC Manager - Compensation & Benefits
DIFC - DUBAI.
From United Arab Emirates, Dubai
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I work in Dubai. In Dubai, we participate in submitting our company data to consultants (such as HayGroup, Mercer, etc.) who conduct market surveys on salary and HR practices and submit a report to all participating clients on salary ranges for benchmark positions and the best practices. They also classify the report for different industries such as Oil & Gas, FMCG, Multinational, Government, etc.
This will be good guidance and a tool for Compensation & Benefits professionals to make suitable recommendations to management regarding any specific positions in line with market pay.
Although I didn't provide a direct answer to your request, I hope you find it useful. I would also like to know if a similar practice exists in Mumbai/Pune/India. If yes, please share the processes with some consultant names and what the charges are.
Thank you and best regards,
Nellaiappan S Pillai
HC Manager - Compensation & Benefits
DIFC - DUBAI.
From United Arab Emirates, Dubai
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As there is no fixed format or structure for the same, it all depends on how much money your organization wants to shell out from its pockets. Moreover, the salary would be negotiated based on the person's current salary. So depending on that, you need to determine the appropriate pay package.
From United Kingdom
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From United Kingdom
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Dear SV Erady,
Payment of salary depends on your business and financial standards. However, one should follow the minimum wages as per the particular state. It is ultimately at the will and discretion of the employer to offer more than the minimum wages.
Regards,
Gopi Krishna J
09618111567
From India, Mumbai
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Payment of salary depends on your business and financial standards. However, one should follow the minimum wages as per the particular state. It is ultimately at the will and discretion of the employer to offer more than the minimum wages.
Regards,
Gopi Krishna J
09618111567
From India, Mumbai
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Hello N S Pillai,
In India, especially in the IT sector, salaries are market competitive. We conduct market surveys and benchmark them. After obtaining the results, companies position themselves on the market percentile basis depending on factors such as company revenues, budget, etc. Organizations like Ernst & Young, Hewitt, and Mercer conduct these surveys. I am unable to disclose the charges as I am not part of the compensation team and do not directly engage with the vendors.
Regards, Anshu
From India
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In India, especially in the IT sector, salaries are market competitive. We conduct market surveys and benchmark them. After obtaining the results, companies position themselves on the market percentile basis depending on factors such as company revenues, budget, etc. Organizations like Ernst & Young, Hewitt, and Mercer conduct these surveys. I am unable to disclose the charges as I am not part of the compensation team and do not directly engage with the vendors.
Regards, Anshu
From India
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Hey Kavita, Thank you very much for sharing the information. It is very useful one and give complete insight in to Compensation structure. Regards Anshu
From India
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From India
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Hi,
First of all, we need to know the meaning of remuneration so that we can clear our doubts. In my understanding, we should prepare a grade structure with an employee matrix. This is an HR policy preparation and implementation process that will be standardized for all employees. By establishing such an HR policy, we can avoid the need for salary negotiations and any other potentially embarrassing situations.
Best regards,
SKD
From India, New Delhi
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First of all, we need to know the meaning of remuneration so that we can clear our doubts. In my understanding, we should prepare a grade structure with an employee matrix. This is an HR policy preparation and implementation process that will be standardized for all employees. By establishing such an HR policy, we can avoid the need for salary negotiations and any other potentially embarrassing situations.
Best regards,
SKD
From India, New Delhi
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Dear S V Erady,
Normally, salary is paid depending on the industry, industry growth, employees' seniority, experience, previous job salary structures, etc. However, when it comes to the Managing Director, you should seek advice from the Company Secretary as there are some sections to be considered in this respect.
Thank you.
From India, Mumbai
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Normally, salary is paid depending on the industry, industry growth, employees' seniority, experience, previous job salary structures, etc. However, when it comes to the Managing Director, you should seek advice from the Company Secretary as there are some sections to be considered in this respect.
Thank you.
From India, Mumbai
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These are some of the primary steps that need to be completed to fix numbers of MD and the Manager - HR.
1. Organisation's ability to pay based on the turnover.
2. Create job descriptions for the position.
3. Evaluate the job requirements - engineering graduate from a B-School etc.
4. The experience range.
5. Market study of the profession and locality where the firm is located. It differs from city to city; practically make some calls to manpower consultants.
6. Visit similar industries to get contact info.
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1. Organisation's ability to pay based on the turnover.
2. Create job descriptions for the position.
3. Evaluate the job requirements - engineering graduate from a B-School etc.
4. The experience range.
5. Market study of the profession and locality where the firm is located. It differs from city to city; practically make some calls to manpower consultants.
6. Visit similar industries to get contact info.
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Compensation Benchmarking Survey.doc
Compensation Structure.ppt