India Inc records 29% upswing in salaries offered to candidates: Survey
- IBEF
- December 7, 2021
According to an analysis of internal data from Careernet, India’s leading talent acquisition firm; India Inc. has recorded a 29% increase in salaries offered to candidates during the pandemic's recovery period. The figures are based on 14,000 job offers made in the first half of 2021-22. According to the findings, businesses' recruiting sentiment in the country has risen dramatically, the average wage hike granted to candidates has also increased. Professionals with 0-3 years of experience and those with 3-7 years of experience were found to be receiving the highest compensation increases.
The findings are based on average incomes for identical job families given by companies in the same industries during the early stages of the pandemic (April to September 2020), and April to September 2021, when the market was showing indications of recovery.
When compared to global businesses, domestic employers offered higher salary hikes to new employees. For entry-level and middle-level candidates, the average salary provided by domestic businesses has increased by 34% and 36%, respectively. In comparison, the global market saw only a 17% and 15% increase in entry-level and mid-level candidates, respectively.
The top four cities with the largest salary increases are Hyderabad, Bengaluru, Delhi/NCR, and Mumbai. Hyderabad had the largest income increases for candidates with 0-3 years of work experience, at 86%, followed by Bengaluru, Delhi/NCR, and Mumbai. Delhi/NCR had the biggest wage increases (41%) among candidates with 3-7 years of experience, followed by Hyderabad, Bengaluru, and Mumbai.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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