Expecting salary appraisal? Good news for you! Report indicates salary hike in most sectors this year

The report further said that among sectors that it has analysed, most have recovered from Covid related slowdowns.

The firm also had the highest annual net additions of 103,546 during the year.

Most job roles from across the sectors can be considered for salary hike this year, as compared to the last two years, according to TeamLease Services India. Releasing the latest edition of Jobs and Salary Primer Report for FY’22, the company pointed out that salary hikes, however, are expected to be moderate. According to the company, out of the 17 sectors that it has reviewed, 14 may witness a single digit hike.

Out of the 17 sectors reviewed, 14 have indicated a single digit hike. Only three sectors: Ecommerce and Tech startups, Healthcare and Allied Industries, Information Technology and Knowledge Services may witness salary growth of over 10%.

The report also indicated the growing interest in India in hot and upcoming jobs. It noted that 9 out of the 17 sectors created new hot jobs and 6 sectors created new upcoming jobs this year.Among the few hot jobs include – Field Scientist (Agriculture and Agrochemicals), EV Technical Expert (Automobile and Allied Industries), KYC Analyst (Banking, Financial Services and Insurance), Digital Marketing Manager (Ecommerce and Tech Start-ups), among others.

According to Rituparna Chakraborty, Co-Founder & Executive Vice President, TeamLease Services, “While the increments are yet to reach double digit hikes, it is heartening to see that the phase of salary de-growth and stagnation that have been hovering in the job market in the last two years is nearing its end.”

“The revival coupled with the growing appetite for roles across profiles and sectors indicate that the modest approach will soon taper off and push the increments to reach the pre-covid level,” Chakraborty added.

The report further said that among sectors that it has analysed, most have recovered from Covid related slowdowns. At least 10 sectors have indicated progression rate of 7-10%, while others suggest 5-7%.

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