Over 41 per cent of job profiles in various industries have a pay difference of just 5 per cent between permanent and temporary roles, according to a report by TeamLease Services.
As organisations continue to focus on growth and digital transformation, the demand for sales and IT roles has remained quite high, the report noted.
Majority of industries included in the survey have indicated the creation of “hot jobs” that offer lucrative salaries, and nearly half of the industries are developing cutting-edge positions that are a right fit for the future. In fact, Bengaluru has a growth rate of 7.79 per cent compared to last year.
However, sectors such as BFSI witnessed a decline in average salaries this year after two years of steady growth. Despite a decrease in pay-outs, the BFSI industry is still creating a diverse range of job profiles that are both hot and longstanding, while also implementing measures to optimise salaries.
Despite a dip in average salaries in the telecom industry as well, the report highlights a 10.19 per cent hike in the relationship manager role in the sector in Bengaluru, making it the highest-paying job in the market. Following closely is the game developer’s role in media and entertainment, with a hike of 9.30 per cent, also in Bengaluru. Across sectors, while the median salary increment stood at a steady 8.03 per cent, the maximum increment of 10.19 per cent was slightly lower than the previous year.
New job roles
“Due to socio-economic factors such as global lay-offs and the funding winter, median salary growth has been slightly lower than last year. Yet, as the Indian job market continues to evolve, we see an influx of new job roles that have gained momentum from a salary perspective,” said Kartik Narayan, Chief Executive Officer - Staffing, TeamLease Services.
Further, according to the report findings, over the last five years, there has been impressive double-digit growth in the average salary of five out of eight industries in the manufacturing sector and three out of nine in the servicing sector, with healthcare and allied industries having the highest growth of 20.46 per cent and education 51.83 per cent. Moreover, industries such as hospitality, automobile and allied industries, e-commerce and tech start-ups, and media and entertainment have witnessed a dip.
“The industrial manufacturing and allied sector are looking particularly exciting, with lucrative salaries being offered for cutting-edge roles. In addition, the media and entertainment industries are creating a host of new-age hot jobs that come with attractive salaries,” said Sumit Sarabhai, Business Head, TeamLease Services.
In terms of job roles, 11 out of the 17 industries created new hot jobs, and seven industries created new upcoming jobs. These profiles include some previously unheard-of roles such as Sr. Golang Developer in the telecom industry, Sr. Biostatistician in Healthcare and Pharmaceuticals, Lead Magento Developer in e-commerce and tech start-ups, and Robotics Instructor in Educational Services. On the blue-collar side, popular profiles in 2023 include sales executives, electricians, AC technicians, and forklift operators.
Additionally, there are several exciting emerging job roles, including Data Science Consultant in BFSI, Media Operations Executive in FMCG, DevOps Engineer in IT & Knowledge Services, Content Specialist-Game in Media and Entertainment, and eMobility Charging Executive in the Automobile & Allied Industries, among others.
The Jobs and Salary Primer Report FY22 delves deep into the salary trends of the past five years, covering 403 unique employers and 357 unique employees across nine hub cities and 17 industries, highlighting the median salary increment of around 8.03 per cent.