Salaries to go up 10.7%, star performers to gain handsomely: Study
Salaries are likely to jump by an average 10.7 percent in July-December, with e-commerce and life science sectors expected to hand out bigger pay packets, says a study.
New Delhi: Salaries are likely to jump by an average 10.7 percent in July-December, with e-commerce and life science sectors expected to hand out bigger pay packets, says a study.
The projected salary hike for 2016 is nearly the same as last year's though the hiring figure so far this year has dipped in comparison with 2015.
"In the second half of the year, companies are expected to sharply differentiate among high, average and low performers and implement variable pay plans that lay more emphasis on the organisation's performance," said Ajay Kolla, founder and CEO of Wisdomjobs.com, which conducted the study.
Top performers stand to gain handsomely as they are expected to receive much more across sectors.
"With an increasing number of companies moving away from bell-curve appraisals, the onus will be on individual performance rather than the group's median performance," Kolla said.
Despite the recent slowdown, e-commerce tops the projected average salary hike list, with 15.6 percent. Life sciences is ranked second at 11.8 per cent, followed by media and entertainment (11.3 percent), technology (10.9 percent) and consumer products (10.5 percent).
Industries that could see minimum pay hikes are cement (9.5 percent), transportation and logistics (9.2 percent), telecom (9 percent), metals and gems (8.8 percent) and BFSI (8.5 percent).
The study by Wisdomjobs.com covered various industries across Delhi-NCR, Mumbai, Bengaluru, Chennai, Hyderabad, and Kolkata.