Executive-Level Roles in India: 2024 Statistics and Insights
In 2024, the landscape for executive-level roles in India is undergoing significant transformations, driven by economic growth, technological advancements, and evolving workforce dynamics. This article explores key statistics and insights about executive roles in India, drawing on recent research and data.
Rising Demand for Executive Talent
According to industry research, the demand for C-suite executives in India is expected to surpass supply this year. Executive search mandates for CXO roles are anticipated to rise by 20-25% as companies seek strategic leaders to navigate complex business environments and drive growth. This trend is particularly evident in sectors such as industrial, digital, consumer, healthcare, manufacturing, and renewables (Source: Economic Times).
Salary Trends and Economic Sentiments
Sources indicate that executive roles in India are set to experience a notable pay increase, with an average hike of 20% for senior-level positions. This surge is attributed to positive economic sentiments and increased investments in talent development and innovation across various sectors. The average salary for an Executive Director in India is reported to be approximately ₹3,873,479 in 2024, though this varies based on experience and industry (Source: Economic Times).
Sector-Specific Insights
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Global Capability Centres (GCCs): Research shows that India accounts for nearly 50% of the world's GCCs, with this sector expected to see a rise in leadership roles. It is projected that over 60 CIOs and SVP leaders will be based in India, leading global functions (Source: Economic Times).
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Emerging Technologies: There is a growing demand for leaders skilled in data analytics, generative AI, and machine learning, reflecting the evolving needs of industries for innovation and efficiency (Source: Economic Times).
Diversity and Inclusion in Leadership
According to recent surveys, the representation of women in leadership roles has improved significantly, with 83% of organisations reporting higher representation in 2024 compared to a decade ago. However, challenges persist, as only 50% of women leaders reportedly enjoy pay parity with their male counterparts, highlighting the need for ongoing efforts to promote diversity and inclusion (Source: Times of India).
Conclusion
The executive landscape in India is poised for dynamic growth in 2024, with increasing demand for skilled leaders across sectors. Businesses need to adapt to these trends by investing in talent development and fostering inclusive environments to attract and retain top executive talent. As the market evolves, staying informed about salary trends and industry demands will be crucial for both organisations and professionals aiming to thrive in this competitive environment.