In the season of the raise that matters, how much increment is awarded depends on which industry one works in and what's the pecking order of the employee in the company hierarchy - because the higher one gets on the corporate ladder, the lower the increments.While 9.6 per cent is the average increment expected this fiscal, those in the lowest rung of the corporate hierarchy and the freelancers will probably be the only ones seeing a double digit increase in their salaries.
Thanks to the high demand for chartered accountants, as companies struggle with the ever-evolving GST regulations, professional services sector will likely see the highest bump in their take home pay in the current fiscal.
Those working in a bank will be the hardest hit this year, with the increment in their salary no better than those working for a not-for-profit organisation.
Variable pay for the corner suite occupants is slowly but surely inching toward the quarter mark - in fact, variable pay as a percentage of the total cost to company will see an increase across all levels in the hierarchy.
Appraisal time is also the time when employees jump ship for better offers, though this fiscal will see a slight decline in attrition, from 13.4 per cent in 2017-18 to 13.1 per cent in 2018-19. Freelancers and those at the junior management level will be more prone to move on from their present job.
