The study examined about two lakh salary records across 17 sectors in the top nine cities of the country. The report predicts maximum growth (11 per cent) for the fast-moving consumer durables (FMCD) sector in Delhi, followed by the tech start-up space in Bengaluru (10.8 per cent).
The banking, financial services and insurance (BFSI) sector will also see significant growth along with the other sectors, such as BPO/IT services, e-commerce, fast-moving consumer goods (FMCG), educational services, pharma and healthcare. These sectors are expected to dole out a 13 per cent pay hike or even more.
Automobile engineers, energy engineers, design engineers, and chief planning officers in construction as well as IT engineers from across the IT, pharmaceuticals and healthcare sectors are expected to receive a pay hike of 15 per cent. The chief technical officers (CTOs) of e-commerce and tech startups in Mumbai are expected to enjoy the highest pay increments of 17 per cent.
While the IT and tech companies in Bengaluru pay very high salaries, the median salary across sectors is low. Also, the wage gap between the temporary staff/blue-collared workers and the employees on the rolls has decreased.
The wage gap is widest between employees in the tech start-ups, e-commerce, construction, BFSI, real estate, and FMCG sectors. Across sectors, professionals can look forward to a 10.95 per cent salary increase in 2019. However, compared to last year, when it was 11.46 per cent, this is much lower.
All in all, while the top jobs will definitely receive high remuneration, the figures for median salaries and increments are predicted to be disappointing.
The lowest remuneration will be paid by companies in the agriculture, agrochemicals, automobiles, construction, hospitality, industrial manufacturing, media, energy, retail and telecom space.