The demand for senior level executives is on the rise and primarily those with experience in business and stakeholder management will see an increase in job offers that will be more rewarding in comparison to yester-years, as per a report.
The increase in job offers in these areas will be due to increase in e-commerce and fin-tech business in India. The salary benchmark 2019 report released by Michael Page says that the growth in these areas has fuelled the movement of seniors from established industries to such new ventures. Also, another trigger adding to job offers for senior level hiring is the inflow of fresh funds into the private equity space.
"This has led the employers to pay a higher price for them. Professionals moving jobs at this management level can expect 20% to 25% increase on their compensation package," said Nicolas Dumoulin, Managing Director at Michael Page India. And as the demand is much higher than the availability of senior level executives, there is an acute shortage of professionals at this level.
Hiring will be seen in large number primarily in mid and large manufacturing companies that specialize in chemicals, building materials and domestic consumer companies. Technology and software sector will also opening of new roles of Chief Technical Officer and Chief Information Officer.
Also skilled seniors in the areas of big data, machine learning, artificial intelligence and the internet of things will also see an increase in demand. There will be also more hiring at senior level for business partnering functions, including human resources, finance and legal.