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Job market improves but salaries to hike moderately

By Swati Deshpande,

Added 18 April 2016

As per TeamLease Jobs & Salaries Primer Report–2016-17, with the job market showing signs of maturity, industries are getting smarter at rewarding. The report suggests that unlike last year, double digit salary growth will not be universal. Only 42 percent of the profiles will witness a significant increment in the pay package this fiscal.

As per TeamLease Jobs & Salaries Primer Report-2016-17, with the job market showing signs of maturity, industries are getting smarter at rewarding. The report suggests that unlike last year, double digit salary growth will not be universal. Only 42 percent of the profiles will witness a significant increment in the pay package this fiscal. The average salary hike in FY'16-17 will range between 11-13 percent across industries and functions.

According to the report, Delhi seems to have dethroned Bangalore as the top paying city. The city tops the growth chart in 6 of the 15 industries.

From a sector perspective, employees in IT, agriculture and agrochemicals, FMCG, FMCD, healthcare & pharma, hospitality, retail and telecommunications are expected to receive double digit salary hikes. However, companies across auto and allied industries, BFSI, BPO and IT enabled services, construction & real estate and power & energy are forecasted to remain conservative. With the highest annualised salary growth being a mere 9.28 percent, automobile & allied industries seems to be the lowest rewarding sector.