BENGALURU: “Salary credited” these are the two golden words which every employee eagerly anticipates to hear at the beginning of each month. While often there are people who pursue their passion over a fat salary, every individual should be paid what they deserve. The 20th edition of the Annual Salary Increase Survey in India has projected an average of 10.3 per cent salary increase across sectors for 2016. India's status quo in salary increase in the last five years shows the sign of market maturity. Let's look at top 5 sectors that will witness a salary hike in 2016, as told by the Economic Times.

Aon Hewitt, a provider of human capital and management consulting services reveals a 15.6 per cent pay hike for early-stage companies and start-ups. The other sectors that will witness a salary increase are Life Sciences at 11.6 per cent, media and entertainment at 11.2 per cent, hi-tech at 10.8 per cent and consumer products at 10.8 per cent. Additionally the automotive, retail, and chemicals industry are likely to receive a salary escalation of 10.7 per cent. The overall salary raise around the country has observed a 10.3 percent rise as opposed to the 10.6 percent rise in 2015.

Since the payout gap between an average performer and key skills is growing with each passing year, investing in key talent has emerged as an important trend. Rewards still continue to be the top tool for talent retention. However, leadership programs, coaching, and overseas assignments are fast catching up.

Anandorup Ghose, Partner at Aon Hewitt India, said, “With this year’s numbers, we are seeing a confirmation of our view that Indian companies are taking very clear steps to arrest the steady increase in compensation budgets. The lower inflation rates in the economy has also helped companies in deciding on the reduced salary increases without creating too much of a disruption in the lives of employees.”

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