Good news for employees of all sectors - Salary increment expected; IT professionals to benefit the most

According to a recent report of Conferry India, employees may get an increment of 10 per cent in their salary. It says that after the COVID-19 situation slowed down in the country, several industries have seen drastic growth, which can benefit the working class of the country too. 

The financials of the companies have also grown strong. In the pre-covid era, 2019, the increment was around 9.25 per cent, while in 2021, it was around 8.4 per cent. It is expected to grow up to 9.5 per cent in this year. The reason behind the salary hike is clear -after the COVID-19 situation in India, consumer confidence has increased, and the company has made some good gains. As a result, the business and profit had witnessed speedy growth.

Companies are said to put a part of their profits into the salary basket. Around 46 per cent are planning to offer health and wellness benefits and additional benefits. 43 per cent of the companies are ready to pay for home office set up and allowance. While 60 per cent of companies are ready for the wifi and utility bill as well due to the work from home scenario in the country. 

This is also because 40 per cent of the people are on the verge of changing their jobs because of getting better offers from other companies in the market. The move is influenced by looking at the current trend of employees changing company. 

Here are sector-wise expected increments in the salary as per the report:

IT Sector: 10.5 per cent

Consumer Sector: 10.1 per cent

Life Science Sector: 9.5 per cent

Auto and chemical sector: 9 per cent

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