India inc sees 29 per cent average hike in salary; Up to 86 per cent at entry level

NEW DELHI:  It’s a favourable time for employees as a 29% upswing is being seen in the average salary hike offered to professionals during the first half of FY 2021-2022 as compared to the first half of FY 2020-FY2021.

An analysis of the internal data with talent solutions company CareerNet, based on 14,000 job offers that were rolled out during April – September ’21, reveals  professionals in the entry-level and middle-level, having 0-3 years and 3-7 years of work experience, are receiving the maximum hikes at 66% and 34% respectively on an average.

In terms of cities, Hyderabad, Bangalore, Delhi/NCR and Mumbai are the top four cities with the highest hikes in salaries offered, says the CareerNet report.

Candidates having 0-3 years of work experience, have received salary hikes of up to 86%, while for candidates having 3-7 years of work experience, Delhi/NCR recorded the highest salary hike at 41%. The increasing trend in salary hike is being observed by domestic employers, whereas, the hikes offered by global employers is comparatively less. 

The average salaries offered by domestic employers have gone up by 34% and 36% for entry-level and middle-level candidates, while the global market recorded only 17% and 15% hikes in comparison, according to the report.

Explaining this sentiment across domestic employers, Anshuman Das, CEO & Co-Founder, CareerNet says, “The pandemic, which pushed firms to go completely online, appears to have boosted the demand for tech talent. There has also been an inflection point of start-ups, which demands talent. Small indigenous players have come out with innovative solutions to solve customer problems, which require expertise. They are bringing out unknown, powerful tech to solve market problems that are leading to the democratisation of technology as well as talent.”