As per the conclusions of a recently conducted study, one of the most striking salary trend in the year 2013-2014 is going to be the lower yearly increment for employees belonging to all the sectors except pharmaceuticals. The overall median pay increment is estimated to be something around 11.3 per cent.Let us find out why it has been predicted thus.
Why has it been predicted that the employees working in the pharmaceuticals field are going to experience the most significant growth rate as per as pay packets are concerned? Let us find out.
The yearly median increment standing in the pharmaceutical sector at 13.1 per cent was the highest among the others like IT, consumer business, retail, real estate etc. The variable pay percent median at 18 percent was also greater than the entire cross-sector median.
The salary trends in the Information Technology Sector
- The overall median yearly increment is projected at 10.7 percent.
- Increment in the management level is on a rise from 9 percent in 2012-2013 to around 11.6 per cent in 2013-2014
- The junior level however might suffer a dip with 9.9 percent this year from 12 percent last year
Salary trends in the hospitality sector
2013-2014 is most likely to be a bright year for aspirants with increment figures expected to touch 11.1 per cent
ITeS Salary Trends
- Employees involved in the media and advertisement might expect a salary growth of 10.2 per cent which is a minor dip from last year (11 percent)
- For others the overall median annual increment will come down to 10.3 percent from 12 percent in the previous year.
This is perhaps one of those sectors where the lowest salary increments have been predicted. Employees here can expect an overall increment of 9.8 per cent.
Infrastructure and Real Estate
Again a dip from the previous years, the overall median increment stands at something around 10.6 per cent
The median annual increment here is the second highest at 12.4 per cent with variable pay at 16.5 per cent
The median yearly increment in this sector stands at its lowest at 9.6 per cent while the variable pay is 20.1 per cent (in the median level)
Trends in Attrition Rates
- The ITes sector is expected to experience the highest attrition rate with 25 percent in the junior levels and 17 percent all over.
- The average attrition in all the sectors will be something around 14 percent.
*Relevant information has been sourced from the study “Compensation Trends Survey 2013-14″ conducted by Deloitte.