Overall Salary increase expected - 10.3 %
Industry-wise projections
Pharmaceutical - 13.5%
Life Sciences - 13.1%
Medical Devices - 12.6%
FMCG Sector - 12.3%
Consumer Business - 11.8%
BFSI Sector - 10.2%
ITES Sector - 10.1%
IT Sector - 9.6%
Salary hikes compared to 2012
Projected hikes are slightly less than 2012.
Attrition compared to 2012
Attrition level has come down in 2013, compared to 2012
Gap between Best & Rest
2013 salary projections show that gap between the talented employees (Hi-Pots., Hi-Performers and Critical Talent) and the rest of the employees is widening. The talented employee are expected to get an average hike of 14.1%.
Country-wise average salary-hikes
Venezuela - 25.6%
Argentina - 24.2%
Vietnam - 12.6%
Tanzania 10.6%
India - 10.3%
China - 9.3%
UK - 3%
USA - 2.7%
Sources:
1. Salaries set to rise over 10% this year: Survey, TNN Feb 21, 2013
2. Indian IT to give smaller salary increments in 2013: Report, TOI Feb 20, 2013
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