Spurred by the funding, e-commerce and early stage start-ups are set to give the highest annual increment of more than 15% in salary in 2016, according to a report by Aon Hewitt.
In the past couple of years, Indian unicorns, including Flipkart, Ola, Snapdeal, Zomato and others have hired top talent from global MNCs such as Google, Microsoft, P&G, Bharti Airtel, etc. According to the documents filed with the Registrar of Companies, Flipkart Internet paid over R1 crore as annual remuneration to 23 employees in 2014-15.
“The ‘Early stage companies/Start Ups’ stand out despite being in the pre-profit stage for over three years and continue to have an aggressive stand on pay. At 15.6% salary increase projected for 2016, they feature as number one, with the closest second being Life Sciences at 11.6%,” the report noted.
IT sector that was considered to be the highest paid industry in India is projected to give 10.3% increase in salary and is ranked 9th on the list. “At an average pay increase budget of 10.3% across India, HR managers will be pushed to ensure they are being more innovative and thoughtful in how they reward their top performers while ensuring they are able to retain and motivate the rest of the organization as well,” said Anandorup Ghose, Partner, Aon Hewitt India.