'Employees to get 14% average pay hike in 2012'
Employees can look forward to an average salary hike of 14% in 2012, up from 11% last year, while hiring activities would be robust in various services sectors, such as banking, experts believe.delhi Updated: Jan 04, 2012 18:13 IST
Employees can look forward to an average salary hike of 14% in 2012, up from 11% last year, while hiring activities would be robust in various services sectors, such as banking, experts believe.
Sectors like infrastructure could see average salary hike of as high as 16%, but the increments could be lower at 5% in a few segments like aviation and textiles.
Across all the sectors, the companies are expected to dole out an average pay hike of 14% -- higher than 11% in 2011, but slightly below a record 14.5% average increment given to the employees in 2007.
"The 2012 is yet another year where job seekers are going to experience positive hiring and double-digit or an average of 14% pay hike, along with handsome incentive, bonuses and perks," MyHiringClub(dot)com CEO Rajesh Kumar said.
"India Inc is also trying very hard to come out with uncertainties in this year and planning to give more concentration on front of employees satisfaction," he said.
Echoing similar views, Concord HR World CEO Shekhar Ghotgalkar said that hiring activities are set to increase in 2012, especially in the services sector, and salaries are expected to rise by 10 to 12%.
Most new jobs are expected in IT, retail, FMCG, auto, infrastructure, construction, engineering and banking sectors.
"Banking recruitment numbers will see growth. As the government wants to open up the sector, a large number of jobs will be created if new licenses are issued," Ghotgalkar said.
The experts believe that hiring activities would be better than 2011 across all the sectors, barring aviation.
In terms of sectors, infrastructure space would see an estimated 16% salary rise, while the textile and aviation sectors would be at the lower end of the spectrum with an average of 5% hike, Kumar said.
The IT sector might see a 14% salary increment, followed by 13% in healthcare sector, 12% in retail and 11% in engineering and manufacturing.
The consumer durables and FMCG sectors would also see double-digit salary hikes.
Commenting on the trends in the IT sector, Zeeways' CEO and MD Syed Farooq said: "We are in process to increase our headcount in India as well our overseas offices also."
"Mid-size IT companies like us were scared in the previous (global economic) crises, but now things are over in Indian market. We have started focusing on creating new potential clients with a geographic mix-up suited to safeguard our sales and revenues," he added.
The increments would be promising not only at junior and middle levels, but senior management level employees are also expected to get 12-14 salary hikes this year.
Besides, functions such as sales, marketing, engineering, finance and human resources are expecting better salary increments in 2012.