pay raise: Due to a more positive outlook on investments by Indian companies, salaries are expected to increase by an average of nine per cent this year. According to a report, this is being expected with a hike of up to 12 per cent in salaries.
Average wage growth expected to be 8-12 per cent in 2022: Report
According to Michael Page’s salary report, the average wage increase is expected to be nine per cent in 2022, up from seven per cent in 2019 due to the pandemic. Along with Unicorn, startups and new-age organizations will lead the growth with an average growth of 12 percent, the report said.
Wages will increase in banking and financial services sector
According to the report, the areas of growth include banking and financial services, real estate and construction, as well as the construction industry. Senior professionals with a background in computer science will be in a position to find high paying jobs due to the growth in e-commerce and other sectors that are undergoing digital transformation in India.
In addition, there will be a lot of demand for data scientists, web developers and cloud architects. Salary increases and higher wages are expected in these sectors.