<ul><li>HDFC Bank's wealth management arm is facing a talent shortage, leading to a surge in pay hikes of 40% to 50% to attract skilled professionals.</li><li>With assets under management totaling 6.47 trillion rupees ($77.2 billion), the bank is hiring retail bankers internally and externally to serve its wealthy clients. Rakesh K. Singh, group head for investment, private wealth, and international banking, noted that these aggressive pay increases may have long-term repercussions for the industry.</li><li>The shortage of wealth management talent is pushing firms to offer substantial incentives, potentially causing challenges in the future.</li></ul>

HDFC Says Wealth Manager Pay Hikes of 50% May ‘Haunt’ Industry

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