Worried about your yearly increments? This report says India will hire more, but pay moderately

With the Indian job market slowly showing signs of maturity, HR firm TeamLease came up with its ‘Jobs & Salaries Primer Report – 2016-2017’. According to this report, unlike last year, double digit salary growth will not be universal.

Only 42% employees will see significant increments this fiscal, and the average salary hike will range between 11-13% across industries and profiles. Interestingly, according to the report Delhi has dethroned Bangalore as the top paying city. The city tops the growth chart in 6 of the 15 industries.

Innovation captures the imagination of many sectors resulting in a 15% hike in the number of new types of jobs being generated. The previous year’s focus on analytical jobs is now broader, with the need for design, usability and financial analysis being the drivers of new job creation. Just 3 out of 15 sectors – Automobile, Construction and Real Estate and Healthcare are exceptions.

From a sector perspective, employees in IT, Agriculture and Agro-chemicals, FMCG, 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 will remain conservative. With the highest annualized salary growth being a mere 9.28%, Automobile & allied industries seems to be the lowest rewarding.

The study also states that blue collar profiles will garner lofty salary increments.

Image credit: Indiatimes