Median salary to increase positively over the next few months: TeamLease

7 out of 9 cities have shown a positive outlook towards salary growth. The eCommerce sector in Bangalore (maximum 15.37%) and educational services sector in Mumbai (maximum 14.55%) exhibited the maximum salary growth across sectors.

Aug 16, 2018 02:08 IST India Infoline News Service

TeamLease Services
TeamLease Services, India’s largest staffing company released its annual "Jobs & Salaries Primer Report (FY-2017-18)," which provides an overview of the unified salaries across temporary and permanent hiring markets. The report relates these salaries to skills across select cities and industries over April 2017-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 a positive outlook towards salary growth. The eCommerce sector in Bangalore (maximum 15.37%) and educational services sector in Mumbai (maximum 14.55%) exhibited the maximum salary growth across sectors.   
 
The eCommerce and tech startup segments, educational, FMCG, FMCD, healthcare, pharma, IT, media, and entertainment, retail and retail communication sector are the biggest gainers 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.
 
Key findings of the study
  • Salaries grew by a minimum of 10% and a maximum of 15.37% in 9 (out of 17 sectors) sectors and in 7 (out of 9 cities)
  • Ecommerce & Tech Start-ups, Educational Services, FMCD, FMCG, Healthcare & Pharmaceuticals, IT, Media & Entertainment, Retail and Telecommunications exhibited growth in excess of 10%.
  • Agriculture and Agrochemicals, Automobile & Allied, BPO, Construction & Real Estate, Hospitality, Industrial Manufacturing & Allied, Power & Energy exhibited less than 10% growth.
  • Ecommerce in Bangalore (maximum 15.37%) and Educational Services in Mumbai (maximum 14.55%) exhibited the maximum salary growth across sectors.
  • Temp salaries have a hairline variance (less than 5%) with permanent salaries in 14 sectors.
  • Less than 5% variance in more than 25% of the job profiles: Agriculture and Agrochemicals, Automobile & Allied, BPO, Construction & Real Estate, FMCD, FMCG, Healthcare & Pharmaceuticals, IT, Hospitality, Industrial Manufacturing & Allied, Media & Entertainment, Power & Energy and Telecommunication
  • Higher than 5% variance: Ecommerce & Tech Start-ups, Educational Services, and Retail
  • Significantly less than 5% variance: BFSI, Construction & Real Estate, FMCD, FMCG
  • Median salary increment: 11.46% and Maximum salary increment: 18.16%

Profiles with greater than 15% salary increment:
  • User Experience Designer (Retail – Mumbai, Bangalore, Delhi)
  • Embedded Technologies Engineer (Power & Energy – Bangalore, Chennai, Delhi, Mumbai)
  • Digital Marketing Head (IT – Bangalore, Mumbai, Hyderabad)
  • CSR Manager, Product Development Manager (Healthcare & Pharmaceuticals – Hyderabad, Delhi)
 
Top paymasters (Greater than 13% salary growth)
  • Ecommerce & Tech Start-ups, Educational Services, Healthcare & Pharmaceuticals, IT, Media & Entertainment, Power & Energy, Retail and Telecommunications
 
Bottom paymasters (Lesser than 13% salary growth)
  • Agriculture and Agrochemicals, Automobile & Allied, BPO, Construction & Real Estate, Hospitality, Industrial Manufacturing & Allied 
New, fast growth, profiles with salary growth
  • Certified Ethical Hacker (Telecommunications | 18.16%)
  • Embedded Technologies Engineer (Power & Energy | 17.29%)
  • SAMI Developer (IT | 16.66%)
  • Wellness Advisor (Healthcare & Pharmaceuticals | 16.27%)
  • Merchant Relations Executive (Ecommerce | 16.19%)
  • GM-Technology (Construction & Real Estate | 15.81%)
  • Enterprise Architect (BFSI | 15.52%)
  
The latest Jobs and Salaries Primer from TeamLease is 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.

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