Recruits for mid to senior level positions in key sectors are likely to get 15-20 per cent hike in compensation this year, staffing firm Kelly Services said today.
According to Kelly Services’ annual Indian Salary Guide 2013-14, mid to senior level recruits in key sectors will get good salaries and double-digit hike even amidst challenging economic conditions.
“All progressive corporates need to remain competitive in terms of their salary positioning as it is a key component of Employee Value Proposition,” Kelly Services India MD Kamal Karanth said.
Karanth further said “at one level you have to address critical roles which are emerging due to business situations and at another level you need to retain your top talent. Both need to be addressed partly by addressing compensation needs of role and talent“.
The survey noted that the relationship managers’ salaries in the banking and financial sector will see year on year increase in double digits. Moreover, oil and gas engineers in the EPC experience would command 15-20 per cent hikes in compensation.
Some of the jobs that would attract good salaries include product managers in consumer retail, information technology people with big data experience from 4-10 years and quantitative & qualitative analysts in the ITES sector.
He added that “with the economic downturn, many sectors have taken a heavy hit which has resulted in single-digit hike for many employees. Despite the slump, IT, engineering, pharma and healthcare have witnessed double digit salary hike in critical skills.”
The Kelly Services’ Indian Salary Guide 2013-14 gives a detailed summary of the jobs/skills in demand in India along with the right salary benchmarking in each sector.