(Last Updated On: April 28, 2016)

MUMBAI: Call it the scarcity factor, the growing demand for top level managerial talent, is adding a lot to the pay packages of budding CEOs.

According to Luis Moniz, head of the financial services practice at international search firm Heidrick & Struggles, “Today, the first reaction from a potential candidate is a categorical “no”. You need to spend a lot more time convincing them and selling them the story.”

What’s also gone up are compensation packages, often through the roof. Once, a crore a year was the glass ceiling.

Today, it’s routine for CEO salaries to start off with $200,000 (close to Rs 1 crore) for those heading business units and independent profit centres, soaring above $400,000 (nearly Rs 2 crore) for group CEOs. Of course, perks and pampering are extra.

“From sign-on bonus to equity grants to profit sharing to minimum guaranteed bonuses, companies are pulling out all stops to ensure that they are able to both attract and retain the best talent,” says Uday Chawla, managing partner, Transearch India.

Source: Times of india

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