India Inc To Get Double-Digit Pay Hike

Teamlease in its annual report suggests hike in salary for the year to be in two-digits. The highest hike is estimated for the FMCD space in country's capital Delhi of 11% while for Bengaluru it shall be the second highest at 10.8% for tech startup.

Other areas which pay handsomely to their staff with 13% plus pay hike include BFSI (Banking, financial services and insurance), BPO/IT services, e-commerce, FMCG, educational services, pharma and health care. Further, some of the positions which secure a higher hike of 15% include automobile design engineers, chief planning officers in construction, energy engineers, IT engineers across domains like IT, healthcare and pharma.

In contrast, a below 10% growth of all the nine top cities covered under the report, only Bengaluru and Chennai report such low growth in median salaries.

Further, the wage gap in case of temporary or blue-collar workers as well as permanent salaried professionals also narrowed this year. Rituparna Chakraborty, co-founder and executive vice-president, TeamLease Services said, "After a year of unparalleled increments across various sectors in 2018, the year ahead will focus on consolidation.

While hot jobs will continue to attract handsome rewards, median salaries and increments are not looking good enough. All the 17 sectors this report analyses have taken on new roles that are seeped in hi-tech and are the harbingers of tomorrow's talent landscape."

The sectors that have seen the highest wage gap between employees are tech start-ups, e-commerce, construction, BFSI, real estate, fast-moving consumer durables and fast-moving consumer goods (FMCG). Across sectors, professionals are expected to see a 10.95 per cent salary increase in 2019, which is lower than the 11.46 per cent recorded in 2018.
Also, while CTOs of tech start-ups and e-commerce company based out of Mumbai will see the sharp hike of the highest 17% while those employed in agriculture, agrochemicals, automobiles, construction, hospitality, industrial manufacturing, media, energy, retail and telecom business will get the lowest salary hike.

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