Double-digit salary growth for industries in this FY: Team Lease Report.
About 300,000 salary records, across 17 sectors and 9 cities, were analyzed to arrive at the insights.
Staffing company Team Lease revealed it's annual report on Jobs and Salaries (FY-2017-18). The report shows the relation of 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 a maximum of 15%, for FY 2017-18.
As per this report, nine out of the total seventeen industries have reclined to double-digit growth with aggregate positive results. Major cities have also shown salary growth, like 15.37% in Bangalore E-commerce sector and 14.55% in the Educational sector in Mumbai.
Rituparna Chakraborty, the Co-Founder & Executive Vice President of TeamLease Services, said speaking about the report,“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.”
A 10% increase in the growth was shown in the report in E-commerce and Tech Startup, educational, FMCG, FMCD, Healthcare and Pharma, IT, media and entertainment, retail and retail communication sector. 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.