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India Inc. has recorded a 29% upswing in salaries offered to candidates during recovery phase of the pandemic, according to an analysis of internal data from Careernet, India’s leading talent acquisition firm. The data is based on 14,000 job offers that were rolled out during the first halves of FY21 and FY22.

The analysis revealed that along with the hiring sentiment of employers in the country going north exponentially, the average salary hike offered to candidates also showed an upward trend. Professionals in the experience bracket of 0-3 years and 3-7 years were found to be receiving offers with the maximum salary hikes.

The findings are based on the average salaries for similar job families offered by companies in the same sectors during April – September ’20, the early phase of the pandemic and during April – September ’21 when the market showed promising signs of recovery.

Domestic employers offered higher salary hikes to new employees when compared to global employers. The average salaries offered by domestic employers have gone up by 34% and 36% for entry-level and middle-level candidates, respectively. In comparison, the global market recorded only 17% and 15% hike for entry and mid-level candidates, respectively.

Hyderabad, Bengaluru, Delhi/NCR, and Mumbai are the top four cities with the highest hikes in salaries offered. For candidates having 0-3 years of work experience, Hyderabad recorded the highest salary hikes at 86%, followed by Bengaluru, Delhi/NCR, and Mumbai. For candidates having 3-7 years of work experience, Delhi/NCR recorded the highest salary hikes at 41%, followed by Hyderabad, Bengaluru, and Mumbai.

 

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