Median salary likely to see double digit growth

17 sectors and nine cities have indicated double digit growth, says Team Lease study

New Delhi, Aug. 14: Median salary of corporate India is expected to record a double digit growth with a minimum rise of 10 per cent over the next few months, says a report.

Staffing company Team Lease Services in its report on ‘ Jobs & Salaries Primer Report ( FY18)’ expects a double digit salary growth with an increase of minimum 10 per cent and maximum of 15 per cent for this fiscal.

The report further noted that certain profiles offer significantly high salary growth like certified ethical hacker in telecommunications ( 18.16 per cent) and embedded technologies engineer in power & energy ( 17.29 per cent), wellness advisor in healthcare & pharmaceuticals ( 16.27 per cent) and merchant relations executive in e- commerce with ( 16.19 per cent).

“The salary growth we have all been looking forward too is now happening in our country,” said Rituparna Chakraborty, co- founder & executive VP Team Lease Services.

According to the report, across 17 sectors and nine cities, nine sectors have indicated double digit growth, while seven cities have also shown positive outlook towards salary growth.

E- commerce sector in Bangalore ( maximum 15.37 per cent) and educational services sector in Mumbai ( maximum 14.55 per cent) exhibited the maximum salary growth across sectors.

“India has come a long way from pay actions based on gut- decisions during the early 2000s, to analytically linking salaries to skills and performance during the 2010s, to handsomely rewarding sought- after skills in FY 2017- 18,” Chakraborty added.

As per the report, top paymasters who offer greater than 13 per cent salary growth are e- commerce & tech startups, educational services, healthcare & pharmaceuticals, IT, media & entertainment, power & energy, retail and telecommunications. The bottom paymasters ( those who offer less than 13 per cent salary rise), are agriculture and agrochemicals, automobile & allied, BPO, construction & real estate, hospitality, industrial manufacturing & allied.

For the year 2018, about 3,00,000 salary records, across 17 sectors and 9 cities, were analysed to arrive at the insights.