India Inc. loosens its purse strings for Sales and IT functions states TeamLease Report. With technology and Sales becoming critical functions required for business continuity and recovery, not only has the demand for the IT and Sales profiles grown, but the salaries that they command have also increased significantly as per the latest ‘TeamLease Jobs & Salaries Primer Report 2021’. According to the report, while the median salary increment was 7.12%, the average growth of salary for talent in IT and Sales functions has been 8.55% and 9.82% respectively.
As the leading in-depth analysis of the job market, TeamLease Jobs & Salaries Primer Report 2021 brings to light the dynamics that govern payout related decisions across 8 functions, 2,63,000 temp profiles, 17 industries and 9 cities. As per the report, the positivity is not restricted to Sales and IT functions alone, but also to super specialised jobs that are being rewarded handsomely. Super specialised jobs have commanded a salary increment of over 11%. Similarly, COVID proof jobs also echo similar sentiments. COVID proof job profiles have not only come out unscathed even through the second wave but are experiencing a steady growth in demand.
Out of the 350 job roles surveyed, 35 have stood the test of COVID and have seen a healthy salary growth of more than 8%. In fact, some of these profiles are expected to continue to witness a healthy growth in FY 2021-22 as well.
While there is exuberance in certain sections, the sentiment is definitely not universal. In fact, a significant number of profiles across sectors are still under the scrutiny for increments and fall in degrowth or stagnant (0-3%) category. Out of the 17 sectors studied, only 3 sectors seem to have been generous on hikes.
The 3 sectors where the salaries have witnessed a 10% growth are namely Banking, Financial Services & Insurance, Healthcare & Allied Industries and Information Technology & Knowledge Services. From a geographic spread perspective, the top paying cities (increments of 12% and above) were Bangalore, Chandigarh, Chennai, Delhi, Hyderabad, Mumbai and Kolkata.