Source | economictimes.indiatimes.com | Rica Bhattacharyya, ET Bureau
Employees at India’s top brokerages are in for a windfall as several are doling out hefty payouts, along with promotions. Bonuses at some of leading broking firms could range from three to seven months of pay, said top executives. Increments are in the range of 15-20%, they said.
High performers in tech and digital roles may take home increments as high as 30%, they said.
A few companies have just announced bonuses while some are in the process of finalising them.
Despite volatile markets and an erosion in stock prices from all-time highs, broking houses booked higher earnings in the last fiscal year thanks to elevated trade volumes and gains in proprietary books. Broking houses with nonbanking finance company (NBFC) linkages have also gained from products such as margin financing and initial public offer (IPO) funding. The sale of wealth products such as portfolio management services (PMS) and alternative investment funds (AIFs) have also improved the fee-based incomes of broking companies.