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India set to witness highest salary hike in world in 2023; Pakistan among lowest five
Asian nations make up eight of the top 10 countries forecast to see real salaries rise, led by India, up 4.6%, Vietnam rising 4.0% and China up 3.8%. Brazil’s 3.4% increase and Saudi Arabia’s 2.3% bump round out the top five.
Formal job creation dips in August after four bright months
Net new EPFO subscriber addition fell 7.1% to 1.69 million in August from 1.82 million in July, according to provisional payroll data from the National Statistical Office (NSO) under the statistics and programme implementation ministry, released on Tuesday. It was 1.83 million in June, 1.68 million in May and 1.53 million in April.
PM Modi takes on critics, says government working on all fronts to create jobs
The Centre handed over appointment letters to 75,000 newly inducted government employees on Saturday at a Rozgar Mela launched by Modi. Virtually addressing the beneficiaries, he assured the nation that the government is working "on several fronts" to create more jobs and such appointment letters will be handed over to thousands from "time to time".
Summer stipends at IIM-Kozhikode jump 25%
The highest stipend at ₹6.47 lakh is 73% more than last year's ₹3.74 lakh. This season witnessed participation from 122 recruiters that offered internships to 541 students. "The key highlight of this placement season was the participation from private equity and fund management firms," IIM-Kozhikode director Debashis Chatterjee said.
B-school summer hiring off to a strong start
At institutes such as IIMs Lucknow and Kozhikode, MDI Gurgaon, XLRI Jamshedpur, FMS Delhi, and TISS Mumbai, top pay for a two-month internship for the 2022-24 batch ranges anywhere between '4 lakh and '7 lakh. Average and median pay for most of these institutes has also hit record highs.
Morgan Stanley may ramp up hiring in India this year
The New York-based company, which has more than 10,000 employees in India across its campuses in cities such as Mumbai and Bengaluru, has been increasing its headcount by about a fifth over the past couple of years.
Commerce department to rope in 140 private sector pros
The lateral recruitment of private sector expertise and talent is a crucial element of the plan to help India reach $2 trillion of exports by 2030. This would expand the number of officers engaged in trade negotiations, officials said.