Salary Hike: Good news for employees waiting for increment, salary may increase this year
Salary hike will reach the pre-covid level.
Salary Hike: According to the report of TeamLease, more than 10 percent growth is likely to be in sectors like e-commerce and technology startups, health and information technology.
There is good news for the people waiting for the increase in salary. Most of the employees in all sectors this year salary ,Salary Increment) may increase. According to TeamLease’s The Jobs and Salary Primer report for the financial year 2021-22, there may be an increase in the annual salary of employees working in almost all sectors this year as compared to the last two years. However, the salary hike (Salary Hike) will be limited. This year the salary of employees can increase by about 8.13 percent. 17 sectors have been reviewed in the report, out of which 14 sectors have expressed the possibility of less than 10 percent increase in salary. At the same time, the average salary increment is estimated to be 8.13 percent.
An annual report by TeamLease Services takes into account the salary payments of over 2,63,000 employees across 17 sectors and nine cities.
Salary will increase by more than 12 percent in these cities
According to the report, Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Mumbai and Pune are among the cities giving the highest salary hike of 12 percent and above on a geographical basis.
Apart from this, the biggest increase in salary on an annual basis is expected to be more than 10 percent in sectors like e-commerce and technology startups, health and information technology.
Here the salary increased by less than 10 percent
The report said that, Agriculture & Agrochemicals, Automobiles & Allied, Banking, Financial Services & Insurance, BPO & IT Enabled Services, Construction & Real Asset, Educational Services, Fast Moving Consumer Durables, Fast Moving Consumer Goods, Hospitality, Industrial The manufacturing and allied, media and entertainment, power and energy, retail and telecommunications sectors saw a growth of less than 10 per cent.
Pay cut period is over
Rituparna Chakraborty, co-founder and executive vice-president, TeamLease Services, said, however, the pay hike is still less than 10 per cent. But the good thing is that now the era of salary cut is over. With the revival, increasing demand in various sectors, the salary increment is on the way to reach the level of pre-covid.
Another trend was also highlighted in the report. This reflected India Inc’s growing interest in hot and upcoming jobs. Chakraborty said, out of 17 sectors in 2020-21, only five had created hot job roles, however, in FY22, 9 sectors had created cutting edge or new age roles. Companies did not hesitate to give decent hikes to skilled employees. have been. There has been an increase of 11 to 12 percent in the salary of super-specialized employees.