"... We see a rise of 20 per cent to 40 per cent in salaries for high quality talent. The same is driven by very high insatiable demand of high quality talent with high end skills," Himanshu Aggarwal, CEO and Co-founder Aspiring Minds, an employability assessment company said.

According to global management consultants like HayGroup and Aon Hewitt, Indian companies are likely to offer average pay hikes of 10-18 per cent in 2015, which could be the second best in Asia after Vietnam.

Such high pay hikes in Asian countries are being attributed to the talent war in the continent, both for experienced hands and new graduates, experts said.

"Since market will improve there is possibility that companies adding some top up benefits beyond CTC including international & domestic trips, some jackpot prizes, ESOP's will be offered by the startup companies to attract the talent," leading search firm GlobalHunt MD Sunil Goel said.

Sudeshna Datta, Executive Vice President and Co-Founder, Absolutdata Analytics, a data analytics services provider, believes, in the year 2015 employers would get innovative with their compensation structures, they would attract, reward and retain high- performers massively by designing creative programmes like employee stock options, fringe benefits, deferred payments, hefty bonuses etc.

According to recruitment process outsourcing specialist, PeopleStrong HR Services some key trends that would define the job market include increased usage of social media channels for hiring, online assessments, video interviewing, data analytics, use of mobile phones and other technological devices.

According to technology hiring platform Talview.com, IT and Pharma would continue the upswing mode.

Sectors like engineering and consulting would also pick up if the new government delivers on its promises. Regulations would play a major role in further expansion in emerging sectors like E-commerce and Internet.

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