It’s that time of the year when employees think of the future of their pay packets. And given the optimism in the air, they are expecting them to get plumper than last year’s.
The manufacturing sector is the most optimistic and is talking about a minimum increment of 25 percent, with the best performers getting about 40 percent. Last year they were expecting increments of 20 percent. IT and telecom insiders seem to be thinking positive, with expectations of a 13 percent and 16-18 percent raise, respectively. The hospitality industry is expecting a 20-25 percent raise, same as last year.
Although the infrastructure sector feels optimistic, its expectation seems to have dropped from last year’s 20 percent. An executive from a South India-based infrastructure firm says, “I think we are in for a minimum hike of 15 percent.”
(Research by K.P. Narayana Kumar, Nilofer D’Souza and Prince Mathews Thomas)