Even though average salary increase has fallen in 2019 compared to the last year, FMCD sector in Delhi and Ecommerce & Tech Start-Up sector in Bangalore are poised to provide maximum city-sector salary growth in 2019, said a report. While 11.11% salary raise is expected from FMCD sector, Ecommerce & Tech Start-Up will also witness a double-digit increase by 10.76%, a recent TeamLease report said. On the other hand, the salary increment this year will be more realistic and moderate, which will touch 10.95% on average, The Jobs & Salaries Primer 2019 said. The same stood at 11.46% in 2018.
Out of the 17 sectors surveyed for the report, eight have shown positive sentiments as far as salary hike is concerned. Similarly, six out of nine cities under survey were found to undertake salary raise this year. Only Bangalore and Chennai will witness sub 10% growth in over 10 sectors.
These sectors will also reward talent
Other than e-commerce and tech startups and FMCD (Fast Moving Consumer Durables) industry, Banking, Financial Services & Insurance (BFSI), BPO/IT Enabled Services, Educational Services, FMCG, Healthcare & Pharmaceuticals and the IT sector will also provide median salary hikes to talents working in these sectors. According to the TeamLease report, these sectors are expected to raise salaries by 10%.
However, there are certain sectors where employees will not receive even the average salary increase which is projected for 2019. Agriculture and Agrochemicals, Construction & Real Estate, Media and Entertainment, Retail & Telecommunication are projected to have less than 10% growth in salaries.
Speaking on the drop in average salaries hike this year, Rituparna Chakraborty, Co-Founder & Executive Vice President, TeamLease Services said that the year ahead will focus on consolidation after a year of unparalleled increments across various sectors in 2018. “ While hot jobs will continue to attract handsome rewards, median salaries and increments are not looking good enough,” she said.