News: Median salary to increase positively over the next few months- Report

#Jobs

Median salary to increase positively over the next few months- Report

The report relates these salaries to skills across select cities and industries for the period April 2017 to March 2018. It further estimates a double digit salary growth with an increase of minimum 10% and maximum of 15%, for FY 2017-18.
Median salary to increase positively over the next few months- Report

Staffing company TeamLease Services released its annual report on ‘Jobs & Salaries Primer Report (FY-2017-18)’ which looks at providing an overview of the unified salaries across temporary and permanent hiring markets. The report relates these salaries to skills across select cities and industries for the period April 2017 to March 2018.  It further estimates a double digit salary growth with an increase of minimum 10% and maximum of 15%, for FY 2017-18.

According to the report, nine out of seventeen sectors surveyed have indicated double digit growth sentiments with overall positive sentiment. Majority cities, 7 out of 9, have also shown positive outlook towards salary growth. Ecommerce sector in Bangalore (maximum 15.37%) and Educational Services sector in Mumbai (maximum 14.55%) exhibited the maximum salary growth across sectors.   

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% increase in the growth sentiments across the employers surveyed. Some of the other sectors with less than 10% 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% growth in more than 10 sectors. 

Speaking about the report, 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. Jobs and Salaries Primer is our flagship annual report that tracks salary growth across major sectors and shares an in-depth analysis. Last year employees across major sectors have been treated to a median salary increment of 11.5% which is a phenomenal growth. India has come a long way from pay actions based on gut-decisions during the early 2000s, to analytically linking salaries to skills and performance during the 2010s, to handsomely rewarding sought-after skills in FY 2017-18. The gig economy has emerged wiser and stronger with reality replacing hype. Artificial Intelligence is being seen to displace tasks rather than entire jobs and a cumulative 1.3 crore jobs will be created across the 17 sectors in the next four years.”

The report further highlights that Certified Ethical Hacker in Telecommunications tops the list with 18.16% salary growth with Embedded Technologies Engineer in Power & Energy close behind with 17.29% growth. The in-depth analysis also indicated positivity for Wellness Advisor in Healthcare & Pharmaceuticals with 16.27% and Merchant Relations Executive in E-commerce with 16.19%.

The report interestingly details out the popular Blue Collar roles in sectors like Agriculture and Agrochemicals, Retail, Industrial Manufacturing & Allied Industries, Hospitality and Telecommunications. It further elaborates the job roles median salaries and skills sought by the industry, bifurcated as basic, intermediate and advanced. 

The latest Jobs and Salaries Primer from TeamLease in an endeavor to report unified salaries across temporary and permanent hiring markets, and relate these to skills across select cities and industries. For the year 2018, about 300,000 salary records, across 17 sectors and 9 cities, were analyzed to arrive at the insights. 

 

Topics: #Jobs, Talent Acquisition

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