New Delhi: Employees in India are likely to see their salary rise by an average 11.3 per cent this year with FMCG and chemical industry expected to lead the market, according to global management consultancy Hay Group.
The year 2015 is likely to see an average pay increase of 11.3 per cent across job roles, slightly higher than actual average salary rise of 10.9 per cent across INDIA INC in 2014.
“The study that we have conducted predicts that the pay raise in 2015 will remain in double digits. At this point, the general market can expect the median salary increase and salary hike figure to stay between 10-11 per cent,” HAY GROUP India Country Manager, Productised Services, Amer Haleem said.
According to Hay Group, clerical and operations professionals are expected to beat the average across job levels, standing at 11.9 per cent, while middle management professionals can expect an increase of about 11.1 per cent.
Across all four employee levels, the increments range between 10.6 per cent and 11.9 per cent.
“The outlook is positive and organisations are putting hiring plans in place. Our detailed analysis also highlights that in terms of specific sectors, FMCG and chemicals are expected to lead the market,” Haleem added.
Typical hiring salary for a graduate with a Bachelor Degree on an average is 350,000 in local currency. The figure for a graduate with a Masters degree is 470,000.
The sectors are such as Industrial goods, automobiles, oil & gas, FMCG, chemical, transport , rental and others.