~ Majority cities (7 out of 9) have shown double digit salary growth~
~ Salaries grew by a minimum of 10% and a maximum of 15.37% in 9 out of 17 sectors ~
National, August 16, 2018: TeamLease Services, India’s largest staffing company released its annual report on ‘Jobs & Salaries Primer Report (FY-2017-18)’ which looks at providing an overview of the unified salaries across temporary and permanent hiring markets. The report relates these salaries to skills across select cities and industries for the period April 2017 to March 2018. It further estimates a double digit salary growth with an increase of minimum 10% and maximum of 15%, for FY 2017- 18.
According to the report, nine out of seventeen sectors surveyed have indicated double digit growth sentiments with overall positive sentiment. Majority cities, 7 out of 9, have also shown positive outlook towards salary growth. Ecommerce sector in Bangalore (maximum 15.37%) and Educational Services sector in Mumbai (maximum 14.55%) exhibited the maximum salary growth across sectors.
The E-commerce and Tech Start up, educational, FMCG, FMCD, Healthcare and Pharma, IT, media and entertainment, retail and retail communication sector are the the biggest gainer with 10%
increase in the growth sentiments across the employers surveyed. Some of the other sectors with less than 10% salary growth were Agriculture and Agrochemicals, Automobiles and allied services, BPO Services, Construction and Real Estate, Hospitality, Industrial Manufacturing and allied and Power and energy sectors. Kolkata and Ahmedabad were the only two cities that exhibited sub-10% growth in more than 10 sectors.
KEY FINDINGS OF THE STUDY
• Salaries grew by a minimum of 10% and a maximum of 15.37% in 9 (out of 17 sectors) sectors and in 7 (out of 9 cities)
• Ecommerce & Tech Start-ups, Educational Services, FMCD, FMCG, Healthcare & Pharmaceuticals, IT, Media & Entertainment, Retail and Telecommunications exhibited growth in excess of 10%
• Agriculture and Agrochemicals, Automobile & Allied, BPO, Construction & Real Estate, Hospitality, Industrial Manufacturing & Allied, Power & Energy exhibited less than 10% growth
• Ecommerce in Bangalore (maximum 15.37%) and Educational Services in Mumbai (maximum 14.55%) exhibited the maximum salary growth across sectors
• Temp salaries have a hairline variance (less than 5%) with Perm salaries in 14 sectors
• Less than 5% variance in more than 25% of the job profiles: Agriculture and Agrochemicals, Automobile & Allied, BPO, Construction & Real Estate, FMCD, FMCG, Healthcare & Pharmaceuticals, IT, Hospitality, Industrial Manufacturing & Allied, Media & Entertainment, Power & Energy and Telecommunication
• Higher than 5% variance: Ecommerce & Tech Start-ups, Educational Services, Retail
• Significantly less than 5% variance: BFSI, Construction & Real Estate, FMCD, FMCG
• Median salary increment: 11.46% and Maximum salary increment: 18.16%
• Profiles with greater than 15% salary increment:
o User Experience Designer (Retail – Mumbai, Bangalore, Delhi)
o Embedded Technologies Engineer (Power & Energy – Bangalore, Chennai, Delhi, Mumbai)
o Digital Marketing Head (IT – Bangalore, Mumbai, Hyderabad)
o CSR Manager, Product Development Manager (Healthcare & Pharmaceuticals – Hyderabad, Delhi)
Top paymasters [Greater than 13% salary growth]
o Ecommerce & Tech Start-ups, Educational Services, Healthcare & Pharmaceuticals,
IT, Media & Entertainment, Power & Energy, Retail and Telecommunications
Bottom paymasters [Lesser than 13% salary growth]
o Agriculture and Agrochemicals, Automobile & Allied, BPO, Construction & Real Estate, Hospitality, Industrial Manufacturing & Allied
New, fast growth, profiles with salary growth
o Certified Ethical Hacker (Telecommunications | 18.16%)
o Embedded Technologies Engineer (Power & Energy | 17.29%)
o SAMI Developer (IT | 16.66%)
o Wellness Advisor (Healthcare & Pharmaceuticals | 16.27%)
o Merchant Relations Executive (Ecommerce | 16.19%)
o GM-Technology (Construction & Real Estate | 15.81%)
o Enterprise Architect (BFSI | 15.52%)
Speaking about the report, Ms. Rituparna Chakraborty, Co-Founder & Executive Vice President, TeamLease Services, said, “The salary growth we have all been looking forward too is now
happening in our country. Jobs and Salaries Primer is our flagship annual report that tracks salary growth across major sectors and shares an in-depth analysis. Last year employees across major sectors have been treated to a median salary increment of 11.5% which is a phenomenal growth. India has come a long way from pay actions based on gut-decisions during the early 2000s, to analytically linking salaries to skills and performance during the 2010s, to handsomely rewarding sought-after skills in FY 2017-18. The gig economy has emerged wiser and stronger with reality replacing hype. Artificial Intelligence is being seen to displace tasks rather than entire jobs and a cumulative 1.3 crore jobs will be created across the 17 sectors in the next four years.”
The report further highlights that Certified Ethical Hacker in Telecommunications tops the list with 18.16% salary growth with Embedded Technologies Engineer in Power & Energy close behind with 17.29% growth. The in-depth analysis also indicated positivity for Wellness Advisor in Healthcare & Pharmaceuticals with 16.27% and Merchant Relations Executive in Ecommerce with 16.19%.
The report interestingly details out the popular Blue Collar roles in sectors like Agriculture and Agrochemicals, Retail, Industrial Manufacturing & Allied Industries, Hospitality and
Telecommunications. It further elaborates the job roles median salaries and skills sought by the industry, bifurcated as basic, intermediate and advanced.
The latest Jobs and Salaries Primer from TeamLease in an endeavor to report unified salaries across temporary and permanent hiring markets, and relate these to skills across select cities and industries. For the year 2018, about 300,000 salary records, across 17 sectors and 9 cities, were analysed to arrive at the insights.
About TeamLease Services Pvt. Ltd
TeamLease Services established in 2002, is one of India’s leading human resource service companies in the organized segment. A Fortune India 500 company listed on both NSE & BSE markets, TeamLease has a presence in 8 locations, with over 2500+ clients and 1900 employees across the country. It is a one-stop provider of human resources services to various industries and diverse functional roles, offering staffing, payroll processing, recruitment, compliance and training services. TeamLease set in motion the larger company mission of ‘Putting India to Work’ by focusing on its vision of 3 E’s – Employment, Employability and Education.
The Company in partnership with the Government of Gujarat set up TeamLease Skills University (TLSU), India’s first vocational university, at Vadodara. In FY2015, TeamLease rolled out NETAP (National Employability through Apprenticeship Program) to provide on-the-job training to apprentices. The company at present has over 170,000 associates/trainees spread across the country and has till date given employment to 1.7+ million people with an aim to hire millions more.