Tech Firms To Offer Double-Digit Pay Hike In 2016: Report

by CXOtoday News Desk    Apr 21, 2016

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The year 2016 will not be fascinating on the salary front for employees except certain industry verticals which will see a descent salary hikes. According to TeamLease Jobs & Salaries Primer report, the average salary hike in the current fiscal year 2016-17 will range between 11-13 per cent across industries and functions. 

The payout scenario in Telecommunication, IT, Agriculture and Agrochemicals, FMCG, FMCD, Healthcare & Pharma, Hospitality, Retail will witness a overhaul this year. Employees working in these industry verticals will receive double digit salary hikes. Increasing mobile Internet usage is driving the Telecommunication sector to reward talent much better than the past two years, the report noted. 

However, companies across Auto and allied industries, BFSI, BPO and IT enabled services, Construction & Real Estate and Power & Energy will remain conservative, the report stated.

According to the report, salaries in the Blue Collar domain see a steep rise for select profiles, with employers wanting to reward and retain specialized skills. Power and Energy (Electrician, Supervisor) and Hospitality (Gym Instructor, Housekeeping) are cases where blue collar job profiles have garnered lofty salary increments this year. It also highlighted that transformative skills like decision making, strategy and planning and business transactional skills like repeat sales, relationship building will be highly valued skills at a workplace.

The report listed Delhi, Bangalore, Pune, Mumbai, Hyderabad and Chennai as prominent on the scale of high increments. Delhi leads the hyper-growth city-sector clusters that dole out high salary increments with 13.65 per cent salary hike in Healthcare and Pharma and 12.67 per cent hike in Telecommunication respectively. Pune will have 13.28 per cent growth in salary in the retail sector and 11.66 per cent hike in Agriculture and Agrochemicals. Hyderabad will have 12.19 per cent hike in FMCD, Bangalore will have 11.66 per cent salary hike Construction and Real Estate.