15-Nov-2012
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When share of salaries in sales were compared for September this year’s and last year’s it was found that most banks are paying lesser salaries and the same amount of bonus this year.
When share of salaries in sales were compared for September this year’s and last year’s it was found that most banks are paying lesser salaries and the same amount of bonus this year. The trend is:
Bank Share of salary in sales, 09-2011 Share of salary in sales, 09-2012 HDFC 12.25% 11.3% ICICI 10.33% 9.63% Axis Bank 9.45% 8.64% Bank of Baroda 8.92% 8.61% Kotak Mahindra 14.69% 12.62% Punjab National Bank 13.86% 13.69% This trend is attributed to the high correlation of the economy with banking sector and hence any slowdown reflects in the sector too, as is noticeable from the reducing share of salaries in sales of most banks.
Source: www.economictimes.com, November 14, 2012. “Banks paying less salaries this year”