Unlike the past two years, in 2020 most positions from different sectors are considered for a salary increase, but the increases will be moderate. Of the 17 sectors surveyed, 14 reported a single-digit increase. The median salary increase is around 8.13 percent. E-commerce and tech start-ups, healthcare and related industries, information technology and knowledge services are the only three sectors with salary growth of more than 10 percent.
The survey covered jobs and pay trends in 8 positions, 2.63,000 temporary profiles, 17 industries and 9 cities. The salary increase for super-specialized positions ranges from 11 to 12 percent. Furthermore, from a geographical perspective, Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Mumbai and Pune are the highest paying cities (increases of 12 percent and more).
According to the analysis, most sectors have recovered from the slump caused by Covid. The majority or 10 of the analyzed sectors have indicated a progression rate of 7-10 percent and the rest are growing at a rate of 5-7 percent.
Top positions include field scientist (agriculture and agrochemicals), EV technical expert (automotive and related industries), KYC analyst (banking, financial services and insurance), digital marketing manager (e-commerce and tech start-ups), curriculum developer ( education services), food technologist (fast moving consumer goods) and SaaSops engineer (information technology and knowledge services).
Sales and IT roles continue to dominate. As entire industries transition to pre-Covid levels – some rapidly and others steadily – sales and IT functions remain critical to this phase of return to normalcy. The average salary growth for sales profiles is 7.41 percent and for IT profiles 9.23 percent.
Continuing the report, Rituparna Chakraborty, Co-Founder and Executive Vice President, TeamLease Services, said: “While increases have not yet reached double digits, it is encouraging to see that the phase of wage decline and stagnation that has witnessed the past two years over the labor market hovered, is nearing its end. The revival coupled with the growing demand for roles in profiles and sectors indicates that the humble approach will quickly wear off and push the steps to reach pre-Covid levels.”
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