Switching Jobs? Here Are The Sectors Which Will Give You Maximum Pay Hike!

There was an era when people got appointed at an office and stuck there till their retirement. Now, employees seek change, and employers want better talent at their offices, too. There are some specific sectors that give huge pay hikes for talented employees to get them to switch jobs.

Read on to know all about these sectors!

Sectors and Their Offerings

As per reports, technology, e-commerce, digital, fintech, consumer, IT and manufacturing are the sectors that at the top of the list as they offer as much as 30 – 40 percent pay hike, which is in no way a small amount! This was confided by around half a dozen headhunters and recruitment firms.

Where skills and roles are concerned, cybersecurity experts, cloud architects, data scientists, new market entry/city heads, AI experts, blockchain professionals, CFOs and general counsels are the sectors which are the most in demand. In these industries, switching jobs will gain a person around 40 – 50 percent hike in salary.

Those employees who are not in any of the sectors mentioned above can expect a hike of about 12 – 20 %  on switching jobs.

Switching a job is an important decision for the growth of career and people believe in switching jobs especially for a pay rise. At the time of annual appraisals and bonuses, employees opt to collect the bonuses and then switch to another company.

Also, the time period from January to March is traditionally a high hiring quarter for mid and senior talent.

Recruitment Firms and Headhunters

The co-founder of specialist staffing firm, Xpheno, Kamal Karanth said, “This year, the increase in hiring is fuelled by startups, fintech, newly funded consumer internet firms and IT captives.” According to Karanth, full-stack developers, cybersecurity, cloud architects and data scientists are the roles in IT in which employees are offered a hike as much as 30 – 50 percent.

Whereas, Aditya Narayan Mishra, director at CIEL HR Services said, “The hikes on job switches are much more at the middle manager level, which are professionals in the 4-10 years’ experience bracket.” He remarked that pay hikes will be lower in power, infrastructure, and BFSI.

Another recruitment expert, Rituparna Chakraborty, who is the co-founder of TeamLease Services, said that the top sectors that give the most hike are e-commerce and tech startups, FMCD/FMCG, healthcare professionals and IT. employees demand job roles of finance controllers, chief planning officers, and digital marketing heads.

Is pay hike the only factor that should be considered while switching a job? Share your opinions with us in the comments section!