Top 10 sectors that are expected to give highest hikes & hire in large number



It is that time of the year again. Appraisal forms have been filled and you must be eagerly waiting for the appraisal highest hikes announcements now.

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With positive growth outlook across sectors, industry experts are expecting improvements in the salaries and bonuses for employees in 2014. While entry level candidates and freshers can be expect to receive moderate salary hikes, mostly in single digits, employees in the middle and senior level positions can expect salary increments ranging between 10% and 14%. “Lately, we are seeing a trend where companies are proportionately adjusting the variable component to encourage high performance and retain key talent,” says Moorthy K Uppaluri, CEO, Randstad India.

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“From our observation of the current economy and industry trends, we believe the sectors that are expected to draw the highest increase in salaries are banking, financial services and insurance (BFSI), pharma & healthcare, IT & ITES, fast-moving consumer goods (FMCG) and manufacturing sectors, including automobile and engineering,” adds Uppaluri.

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As per Randstand data, while the BSFI and IT sectors are expected to give 10-12% hikes, the healthcare and parma sectors are expected to give between 10 and 14%. FMCG and the manufacturing sectors will give up to 10% hikes.

How Much Hike Will You Get In Sectors?

Are you in line for a pay raise this year and, if so, by how much? Here are the top 10 sectors that are expected to give highest hikes this year.

Industry Mid-Senior Level Hikes Junior Level Hike IT 10-12% 15-20% Analytics 10% – 12% 15% – 20% Education 11%-15% 15%-20% Power 15-20% 20-25% Pharmaceutical 10% – 12 %plus bonus or perks 13% – 15% Healthcare 10%- 12% plus bonus or perks 12% – 14% Processed Foods 8% – 10% plus bonus or perks 10% – 12% Beverages 8% – 10% plus bonus or perks 10% – 12% Chemicals 7% – 8% plus perks 9% – 11% Banking 11% to 16% – NBFC (Lending Business) 15% –Source: TeamLease Services

With the economic slowdown bottoming out and firms across sectors showing positive signs of recovery, hiring is expected to be on upswing this year. BFSI, pharma & health care, IT & ITES and agro-based industries are some of the sectors to watch out for in terms of hiring.

“Currently we also see great demand for niche’ profiles such as personal financial advisors, social media specialists, data scientists and analytics professionals, innovation and design engineers, patent technologists and loan officers” says Uppaluri.

Randstand’s research also indicates an increased pace of hiring among emerging sectors such as e-commerce, analytics and mobility. There is also a demand for professionals across levels with skills in emerging technologies such as big data, cloud computing etc.

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With growth picking up in hospitality, legal, education and other development sectors, we can expect moderate hiring in these industries.

According to a recent survey conducted by Mercer across ten industries (asset management, auto and auto components, chemical, consumer goods, engineering design, manufacturing & engineering, oil & gas, pharmaceutical and medical equipment and shared services) 78% of the organizations in the IT and ITes sector indicate their intent to increase manpower numbers in 2014. 76% of pharmaceutical firms and 66% of the automobile companies surveyed echoed similar hiring sentiment, followed by chemical and consumer at 57%.

“With prospects of good growth in the IT industry, entry level hiring of engineers in large numbers is expected. The medium and small sized IT players are on a hiring spree, to grow their talent base,” says Shanthi Naresh, India Business Leader, Information Solutions, Mercer India.

“Mobile developers like IOS/Android /windows and experts with proficiency in .NET/ Java – Sharepoint, C#, PHP, Python, Ruby on rails, JavaScript, HTML, CSS, IT security professionals are some specific profiles that will be sought after,” says Rituparna Chakraborty, Co-Founder and Sr. VP, TeamLease Services, and President of Indian Staffing Federation.

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Sustaining an adequate pipeline of critical talent continues to be seen as a concern across sectors. “As companies continue to deal with the double edged sword of attracting and retaining talent, jobs in the sales & marketing function emerge as the ‘hot jobs’. Entry level sales jobs and mid-manager level marketing jobs remained the most sought after in pharmaceutical as well as consumer sector. Experienced professionals in the engineering and R&D Functions also continue to be in the hot job list,” says Shanthi Naresh, India Business Leader, Information Solutions, Mercer India.

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