Over 7 in 10 Indian professionals expect salary growth, 20 pc sees no change Report
The job market in India highlights more than seven in 10 (77 per cent) of professionals anticipate significant salary growth in their industry, while 20 per cent expect no change and only 3 per cent foresee a decline
- BENGALURU — More than seven in 10 (77 per cent) of professionals in India
anticipate significant salary growth in their industry, while 20 per cent
expect no change and only 3 per cent foresee a decline, a report showed on
Thursday.
-
- The job market highlights a significant divide in salary
satisfaction, with a large portion of professionals feeling dissatisfied with
their compensation growth, while professionals in select industries reporting
higher contentment levels.
-
- According to the survey by jobs platform foundit (formerly
Monster APAC and ME), 47 per cent of professionals are not satisfied with their
salary growth, citing low increments and unfulfilled expectations. Meanwhile,
25 per cent of respondents remain neutral -- while they acknowledge limited
salary growth, they do not see it as a pressing concern.
-
- Only 46 per cent of respondents believe their salary is
above average, while 40 per cent feel it is below industry standards.
-
- Notably, 14 per cent remain unaware of salary benchmarks in
their field. Overall, as professionals gain experience, salary awareness
improves, and dissatisfaction steadily declines, said the report. In the
entry-level (0-3 years), over half (51 per cent) lack awareness of salary
benchmarks -- the highest among all experience levels.
-
- About 31 per cent feel underpaid, with dissatisfaction
peaking in BFSI (42 per cent). At the mid-level (7-10 years), dissatisfaction
further declines to 18 per cent, 22 per cent consider their pay above industry
norms, with IT-Software leading.
-
- At the senior and executive (11+ years) level, 18 per cent
of senior professionals and 18 per cent of executives believe their salaries
exceed industry benchmarks, the report noted. When it comes to appraisal, 35
per cent of professionals expect only a minimal hike (0-10 per cent),
highlighting conservative salary growth expectations across industries, and 29
per cent anticipate a moderate growth (11-20 per cent) increment.
-
- Entry-level professionals are the most polarised, While 20
per cent expect a minimal hike (0-10 per cent), a notable 11 per cent
anticipate a high appraisal (30 per cent and above). This reflects both early
career pay stagnation and strong optimism among a select group.
