Salary hikes projected to be 9.8% in 2019: Wisdom jobs survey

Posted on 15th Mar 2019 | 1354 views

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Salary hikes projected to be 9.8% in 2019: Wisdom jobs survey

Wisdom jobs, Hyderabad based online career portal stated that top paying performers for 2019 would be consumer internet, professional services, financial institutions, hi-tech and ITeS.

Salary hikes projected to be 9.8% in 2019: Wisdom jobs survey stated that it surveyed 1000companies across 15 industries and 12 among them highlight the salary hikes compared last year. Those sectors including IT, retail, hospitality, FMCG, healthcare, automobiles, infrastructure, education, ITeS and BFSI etc.

It added that this year pay hikes expected to be higher than last year says wisdom jobs, online job recruitment and career solution portal survey report. The survey report predicted that average salary increment of 9.8% for 2019 compared to 9. 6% last year

HR consultancy firm Wisdom jobs says that employees in India got an average salary hike of 9.6% 2018, which is same as 2017. Companies are focusing on performance so top talent expected to get an average appraisal of 15.6%.

According the survey report the projections for 2019 are expected to be stable and over9.8 percent as many companies expect a positive economic outlook with the advantage of high economic growth expectation, high domestic demand and low inflation. There a decline in attrition rate and there a rise in hiring continue to grow.

While, salary hikes are depending on multiple factors such as an employee performance, size of the company, business dynamics and nature of talent requirements etc said Ajay Kolla,CEO of wisdom jobs.

The study observed that those skills for 2019 including big data analytics, Digital cloud computing, AI and Machine learning and cyber security etc. will determine salary growth and pay hikes.

Wisdom jobs survey noted that most industries, including life sciences, chemicals, energy, engineering manufacturing, metals, engineering design are part of manufacturing and hi-tech, retail, and financial institutions considered under services sector have expected to see great salary hikes for 2019.

Ajay Kolla, CEO, Wisdomjobs stated that Companies are reconsidering their recruitment strategy and highlighting the key skills which provide success in the longer term.

The survey mentioned that digitization is common process and companies are looking for the candidates who fit, companies are revamping their hiring strategies according to the changing business scenario.

The survey report further noted that sectors such as consumer internet companies, professional services, life sciences, automotive and consumer products are expected to get double-digit increment for 2019. It was also known that salary hikes across manufacturing and services sectors continue to rise and projected salary hikes will be less than 1% on an average.

Wisdom jobs survey found that the attrition rate has declined to 16.1 percent in 2018 from 17.9 percent in 2013 There no remarkable change in this year salary hikes , expected to see that the double-digit pay will happened soon in India Inc. which indicates marginal growth in balancing economic and political cycles." Says Wisdom jobs Founder and CEO, AjayKolla.

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