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Pay packets are estimated to have grown by 10- 15 per cent in FY 2017-18, according to a survey by TeamLease Services.
The staffing company, in its annual report on ‘Jobs & Salaries Primer Report (FY-2017-18)’, said nine out of seventeen sectors surveyed have indicated double digit growth sentiments with overall positive sentiment.
The report relates these salaries to skills across select cities and industries for the period April 2017 to March 2018.
Majority cities, 7 out of 9, have also shown positive outlook towards salary growth. E-commerce sector in Bangalore (maximum 15.37%) and Educational Services sector in Mumbai (maximum 14.55%) exhibited the maximum salary growth across sectors.
Rituparna Chakraborty, Co-Founder & Executive Vice President, TeamLease Services, said, “The salary growth we have all been looking forward too is now happening in our country. Last year, employees across major sectors have been treated to a median salary increment of 11.5% which is a phenomenal growth."
The E-commerce and Tech Start up, educational, FMCG, FMCD, Healthcare and Pharma, IT, media and entertainment, retail and retail communication sector are the the biggest gainer with 10 per cent increase in the growth sentiments across the employers surveyed. Some of the other sectors with less than 10 per cent salary growth were Agriculture and Agrochemicals, Automobiles and allied services, BPO Services, Construction and Real Estate, Hospitality, Industrial Manufacturing and allied and Power and energy sectors. Kolkata and Ahmedabad were the only two cities that exhibited sub-10 per cent growth in more than 10 sectors.
KEY FINDINGS OF THE STUDY
- Salaries grew by a minimum of 10% and a maximum of 15.37% in 9 (out of 17 sectors) sectors and in 7 (out of 9 cities)
- Ecommerce & Tech Start-ups, Educational Services, FMCD, FMCG, Healthcare & Pharmaceuticals, IT, Media & Entertainment, Retail and Telecommunications exhibited growth in excess of 10%
- Agriculture and Agrochemicals, Automobile & Allied, BPO, Construction & Real Estate, Hospitality, Industrial Manufacturing & Allied, Power & Energy exhibited less than 10% growth
- Ecommerce in Bangalore (maximum 15.37%) and Educational Services in Mumbai (maximum 14.55%) exhibited the maximum salary growth across sectors
- Temp salaries have a hairline variance (less than 5%) with Perm salaries in 14 sectors
- Less than 5% variance in more than 25% of the job profiles: Agriculture and Agrochemicals, Automobile & Allied, BPO, Construction & Real Estate, FMCD, FMCG, Healthcare & Pharmaceuticals, IT, Hospitality, Industrial Manufacturing & Allied, Media & Entertainment, Power & Energy and Telecommunication
- Higher than 5% variance: Ecommerce & Tech Start-ups, Educational Services, Retail
- Significantly less than 5% variance: BFSI, Construction & Real Estate, FMCD, FMCG
- Median salary increment: 11.46% and Maximum salary increment: 18.16%
Profiles with greater than 15% salary increment:
o User Experience Designer (Retail – Mumbai, Bangalore, Delhi)
o Embedded Technologies Engineer (Power & Energy – Bangalore, Chennai, Delhi, Mumbai)
o Digital Marketing Head (IT – Bangalore, Mumbai, Hyderabad)
o CSR Manager, Product Development Manager (Healthcare & Pharmaceuticals – Hyderabad, Delhi)
Top paymasters [Greater than 13% salary growth]
o Ecommerce & Tech Start-ups, Educational Services, Healthcare & Pharmaceuticals, IT, Media & Entertainment, Power & Energy, Retail and Telecommunications
Bottom paymasters [Lesser than 13% salary growth]
o Agriculture and Agrochemicals, Automobile & Allied, BPO, Construction & Real Estate, Hospitality, Industrial Manufacturing & Allied
New, fast growth, profiles with salary growth
o Certified Ethical Hacker (Telecommunications | 18.16%)
o Embedded Technologies Engineer (Power & Energy | 17.29%)
o SAMI Developer (IT | 16.66%)
o Wellness Advisor (Healthcare & Pharmaceuticals | 16.27%)
o Merchant Relations Executive (Ecommerce | 16.19%)
o GM-Technology (Construction & Real Estate | 15.81%)
o Enterprise Architect (BFSI | 15.52%)
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