Salaries will go up, hiring will rise: Survey

New Delhi, Oct 12: A survey done by global HR consultancy, Mercer India Monitor has given optimistic news to India Inc. While the salaries will see a hike of 8 per cent in 2009, about 50 per cent of companies have massive hiring plans in the coming months, the survey said.

"Despite the fact that past year saw slowest growth in a long time, the economy is expected to grow at over six per cent and industry is estimated to see overall average salary hikes at 8 percent for 2009," Mercer's information product solutions business India leader Gangapriya Chakraverti said.

Assuring that the growth will not end with the year, the quarterly survey showed that salaries are expected to rise by as much as 10.9 per cent in 2010.

"Overall forecast for 2010 is at 10.9 percent compared to eight per cent this year. Most sectors are forecasting double digit increases for next year," Chakraverti added.

The IT sector which has seen a consistant zero per cent salaray hike in 2009 will see increment by a few percentage points in 2010, while salary rise in the pharmaceutical, consumer and manufacturing sectors have been in excess of seven per cent, the report noted.

Automobile/auto component industry, chemical sectors have seen a good year, the survey said.

However, despite the worst affected sector being IT, telecom 's fairly good performance took the overall increase in the Hi Tech arena to about five percent.

When it comes to hiring, pharmaceutical, chemical and IT sectors have shown intention of recruiting personnel. But few companies in manufacturing and pharma sector would be cutting down the headcount over the next three months, the survey said.

OneIndia News