Hike in 2010: World is trying to overcome the recession and the year 2010 is expected that there will be a hike in hiring activities especially in India. It is expected that India will see a hike in hiring activity by 15 to 20 per cent in next four months as compared to year 2008. Market is showing improvement and companies are starting to hire people for the various functions. It will not be just year of hike in hiring activity but also about 20 per cent of salary hike is also expected. Salary hike will be different for various levels but overall it will be a good financial year for the nation and will improve the standard of living of people. India is second fastest growing economy at the time and it will be growing faster than previous year.
Survey regarding salary hike: According to the survey conducted there are hope of not only rise in hike in recruitment but also in hike in the salary and bonuses in the year 2010. The top management posts like managing directors, chief executives, chief financial officers, senior vice-presidents and executive directors can see a big hike of 15 to 20 per cent in their salary in the year. Last year world was going through the recession and there was drop in hiring activities and many companies had to take out their employees even but year 2010 is expected to be good for Asian countries where there will be maximum hike is expected in India. According to job site Naukri there is increase in hiring activities from November 2009 and it will continue in year and expectations are of double digit hiring growth in automobile, insurance and telecom sector in the year. Arunima Sharma, principal consultant at Execuzen said that the total package might not increase much but the other benefits like perks and variable pay may rise significantly.
Good financial impact on country: The rise in salary and hiring activity is good sign for the country and it will help the country to grow. It is expected the various companies from Europe and Japan are also looking to invest in India especially in the financial services and advertising sectors. The companies who had stopped hiring because of recession are also hiring now because of improvement in market conditions and to meet the market demands. The IT sector which was hit maximum during the recession is again rising and maximum growth of this sector is expected in 2010 with top level salary as Rs 1.5 to Rs 5 crore per annum while in manufacturing and engineering sector is expected to go around 80 lakh annually at the top levels. There will be also hike in salary in media and real estate sector. Aggrawal, CEO of ABC Consultants said that 2010 salaries will be based upon the performance and excellent performers will get the benefit in the year with good hike of about 20 percent in salary even.Share