According to TeamLease Services India, the role of most jobs in various sectors could be considered for the pay rise this year as compared to the last two years. Releasing the latest version of the jobs and pay primer report for FY’22, the company noted that pay increases are expected to be moderate though. According to the company, 14 of the 17 sectors it reviewed could witness single-digit growth.
Of the 17 sectors reviewed, 14 single units indicated an increase. Only three sectors: ecommerce and tech startups, healthcare and allied industries, information technology and knowledge services could witness salary increases of more than 10%.
The report also hints at a growing interest in hot and upcoming jobs in India. It noted that 9 out of 17 sectors have created new hot jobs and 6 sectors have created new upcoming jobs this year. Some of the hot jobs are – Field Scientist (Agriculture and Agrochemical), EV Technical Expert (Automobile and Allied Industries), KYC Analyst (Banking, Financial Services and Insurance), Digital Marketing Manager (eCommerce and Tech Start-up) among others.
According to Rituparna Chakraborty, Co-Founder and Executive Vice President, TeamLease Services, “Although the increment has not yet reached double digits, it is gratifying to see the level of pay cuts and stagnation in the job market. The market has almost come to an end in the last two years.
“The revival, with a growing appetite for roles across profiles and sectors, indicates that the modest approach will soon decline and push growth to reach pre-covid levels,” Chakraborty added.
The report further states that most of the sectors it has analyzed have recovered from the slowdown related to covid. At least 10 sectors indicated a growth rate of 7-10%, while others offered 5-7%.