The Top Paymasters

Only half the companies among 2005's top 20 paymasters have
been able to retain their presence amongst this year's Top 20. As a result,
there are 10 new entrants in the 2006 Top 20 list including Flextronics, Kanbay,
Geometric, and Xansa. Most notable is Moser Baer's entry, indicative of rising
salary thresholds in the manufacturing segment. However, conspicuous by their
absence this year are some bigwigs like Infosys and HCL Infosystems.

The growing disconnect between the salary and level of
satisfaction with the salary is in continuum with last year's trends. The
salary and the corresponding satisfaction levels with it are not aligned in a
majority of the cases. Interestingly, only six companies in the Top 20 list
boast of satisfaction ranks within the first 10.

Despite rising salary levels, the discontent is very apparent
and becoming even more marked. This may lead to a further rise in the average
salary bar. However, the satisfaction levels are not likely to be perfectly
aligned with it considering the growing employee expectations and increasing
salary competitiveness.

Salary satisfaction over the years has emerged as a variable of various
factors other than just the pure paycheck that an employee takes home. One
possible factor could be if the salary is aligned with the area/domain of work
and designation, and is in accordance with industry standards. Further, average
hike trends, salary structure, and tax efficiency may be the other determining
aspects. Even though the average salaries being paid by companies on top are
among the highest in the industry, it may not be aligned with the factors
mentioned above.