It’s increment time! Are things looking up? We asked people in some representative sectors what kind of raise they were expecting. Illustration: Abhijeet Kini
The hospitality industry is very cheerful indeed. Some companies had already handed out increment slips in the 20 to 25 percent range. Those who haven’t got theirs yet are naturally expecting the same.
IT is, alas, rather gloomy; the most they were expecting was a 10 percent increase. Pessimists said that even the top tech companies were unlikely to raise pay more than around 5 percent.
Other sectors are cautiously optimistic. As an employee with a South India-headquartered infrastructure company said, “Last year, salaries were increased only for people below a particular designation and selectively. This year, there is talk of an across-the-board increase.”
Telecom insiders said that regardless of recession, increments remain around 12 to 17 percent; this year they are expecting 15 percent. Is the mood realistic?
E. Balaji, chief executive officer of Ma Foi Consultants, says that a 10 to 12 percent average increment in salary is what is reasonable to expect across all sectors. However, he added that most people tend to rather overestimate what they will get.
Watch this space!Research: Divya Subramaniam
(This story appears in the 16 April, 2010 issue of Forbes India. You can buy our tablet version from Magzter.com. To visit our Archives, click here.)