New story from Business Standard published by Mortimer Goth October 13, 2009
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'Do Indian CEOs overpay themselves?'
India’s top honchos could not have had it better. High salaries, perks, fancy cars, club memberships, and a lot more are all for them to keep. A demand-supply gap for senior talent has resulted in very high CEO salary levels in good times and now, in tough times, these numbers have begun to look ‘indecent’. In the past, each person hired was benchmarked against the best available candidate and the best company, and this pushed up compensation levels to unreasonable limits, irrespective of competence. While CEO salaries grew with quantum jumps in profits and market capitalisation of companies, a fall in profits in recent times has not resulted in a proportionate fall in salary levels. More: http://tinyurl.com/compensation154
