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The average salary hike in the current fiscal year 2016-17 will range between 11-13% across industries and functions, according to the TeamLease Jobs & Salaries Primer Report.

As per the report, unlike last year double digit salary growth will not be universal. Only 42% of the profiles will witness a significant increment in the pay package this fiscal.

From a sector perspective, employees in IT, agriculture and agrochemicals, FMCG, FMCD, healthcare & pharma, hospitality, retail and telecommunications will receive double digit salary hikes. However, companies across auto and allied industries, BFSI, BPO and IT enabled services, construction & real estate and power & energy will remain conservative.

The report listed Delhi, Bangalore, Pune, Mumbai, Hyderabad and Chennai as prominent on the scale of high increments. It, however, said Delhi leads the hyper-growth city-sector clusters that pay high salary increments. The report added that IT (13.65%), healthcare and pharma (13.28%) and telecommunication (12.67%) choose Delhi as the city to reward talent in best.

On the other hand, salaries in the blue collar domain see a steep rise for select profiles, with employers wanting to reward and retain specialized skills. According to the report, power and energy (electrician, supervisor) and hospitality (gym instructor, housekeeping) are cases where blue collar job profiles have garnered lofty salary increments this year.
Rituparna Chakraborty, senior VP, TeamLease Services, said, “The current stagnancy in salary growth is more of a course correction. The renewed focus on talent acquisition coupled with improvement in business scenario, will bring back the buoyancy in reward and compensation structure.”
Tata Consultancy Services, India’s largest IT services company, said salaries of employees in India would rise between 8% and 12% in FY17, marginally higher than the raise offered by its rival Infosys.

Bengaluru-based Infosys said on Friday it would hike wages by 6-12% for employees in the country. Even TCSBSE -0.03 % employees in other regions will fare better salary-wise, with TCS saying it was offering a hike of 2-6%, compared to the 1.5-2% wage increase announced by Infosys.

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