Indian Employees Salary Appraisal Will Be 9% In 2022, Up From 7% Last Year: These Skills In High Demand!
This year, Indian firms are most likely to give an average hike of 9 per cent salary hike, as per a latest report .
Michael Page Salary Report 2022
This is possible due to a more favorable investment outlook, especially in manufacturing and infrastructure development.
Which is a straight 2 percent hike against 7 per cent in the pre-pandemic year of 2019.
Further the report mentions that unicorns, startups and new-age corporations, all together are set to lead this trend with a commonly estimated hike of 12 per cent.
Here, growth sectors include the banking and financial services industry, property and construction, and manufacturing, as per the report.
IT Professionals In High Demand
The report noted that senior-level professionals with computer science backgrounds would be in an excellent position to negotiate for some of the highest paying jobs in India.
This growth is mostly affected by the growth of e-commerce and other sectors undergoing digital transformation.
Moreover, data scientists (especially those familiar with machine learning), web developers, and cloud architects would be in high demand.
Especially, if they hold a bachelor’s degree or a master’s degree from a top-rated university.
Higher Salary Expected
The report noted that the average salary of technologists is expected to be higher than professionals with similar educational qualifications in other job functions.
Here, the Michael Page Salary Report 2022 is based on the information and facts derived from its proprietary data and network in India, including job advertisements and placements made in 2021, incorporating salary projections for 2022.
The companies are now looking at retaining top performers with various offers, including shorter – quarterly or half-yearly – appraisal cycles, promotions, variable pay-outs, stock incentives, retention bonuses, and mid-term increments, as per the report.
Now, employers are not expecting any further significant impact of the pandemic on the market and are buoyant about future business plans, the report observed.
Further adding that the high-performing individuals and employees with niche skills can expect above-average increments (20-25 per cent or even more on a case-by-case basis).
It seems that most organisations have become nimble to retain their top talent, as per the report.