Dull pay hike prophecies this year may refuse to die down for now, but for some niche profiles, handsome hikes and rewards are in order, as corporates look to retain this pool of scarce talent.
Profiles like that of management accountants, data scientists, app developers and marketing managers are expected to be rewarded significantly in the current appraisal season, more or less in line with last year’s levels.
The profile of a data scientist is among the hottest across sectors and hikes can range from 30% to 50%, says Subeer Bakshi, director oftalent and rewards at Towers Watson India. “As much as 90% of the world’s data was created in the past two years and these professionals are in short supply, which gives them the ability to write their own pay cheques,” he says.
Sectors like retail will have tons of data, and these professionals can help them with data assessment and analysis. Layout designers in retail companies and media managers who can formulate strategies based on insights from data scientists can expect hikes ranging from 20% to 30%.
Consulting firm Mercer estimates that roles like that of experienced marketing analyst and sales representatives in sectors like automobiles, consumer durables and pharmaceuticals will continue to be on companies’ priority list. In information technology, salary hikes will be dominated by profiles in mobility, cloud and security, says technology and market research firm Forrester‘s VP and country manager for India, Manish Bahl.
“There will be more spending on security as a skillset,” he says. With greater focus on customer experience, mid-to-senior IT roles like app development and business consulting can fetch hikes of 15% to 17% compared with average hikes of 10% to 12%, he says. Hikes in IT were in the range of 10% to 11% last year, according to Forrester estimates.