New Year Cheer: 8.5 Lakh New Jobs, 20 Percent Pay Hike, Experts Say

With regards to salary, the average hike for most sectors is expected in single digits, while top performers can expect pay rise of around 15-20 per cent in 2014, experts say.

"This New Year is going to bring cheer for employees with a salary hike of double-digit of at least 10-12 per cent. In 2014, companies are expected to revise the compensation package and explore a more motivational approach," Indian Staffing Federation vice-president Rituparna Chakraborty said.

"All indications are that the average increase will be around 10 per cent across the industries. However, as pressure is mounting on companies to keep its growth intact, high achievers will be getting increase better than last year, which may range between 15-18 per cent in different sectors," GHCL Ltd VP and head-human resources Rajesh Tripathi said.

Echoing similar sentiments, Vdopia's spokesperson, Preetesh Chouhan, VP-APAC, believes ideally a high performer receives an incremental hike of 12-15 per cent in comparison to an average rise in salary.

According to Changeyourboss.com CEO Bhupender Mehta, sectors like services, mining, construction and infrastructure are expected to up their hiring activities and companies are expected to give 12 per cent average salary hike.

Lighthouse Partners' managing partner Rajiv Burman said a new government in 2014 should emphasise on promoting growth and therefore hiring trends will also improve. The pay hikes could be 5 per cent for average performers and 10-20 per cent for high achievers, he said.
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