Expect 15-25% pay hike while shifting jobs at senior level, shows Michael Page report
The report that was released recently reports 7-12% annual salary increases within current jobs. Manufacturing and operations roles are in demand, so are talents for data, generative AI and machine learning roles. Sustainability and compliance skills have become hot topics in hiring. Renewables, electric vehicles (EVs) and the auto sector are expected to be in focus. Global capability centres (GCCs) are seeing a talent increase, it says.
Senior-level hiring and salary insights
In banking and financial services, some of the senior-level roles in demand include chief technology officer (CTO), head of engineering and VP-engineering. This shows the importance of technology integration in the sector. Vice president roles are also in demand in PE/VC funds.
Banks and insurance companies have the highest hiring requirements in this sector. The average salary increases while switching jobs at a senior level is 20-25% in the banking and financial services segment.
India Inc CXOs’ pay packets are getting fatter
In engineering and manufacturing, some of the skills in demand are around chemical, mechanical, electrical, mechatronics engineering and plant operations. The top hiring has happened from renewables, automobiles and automotive. Some of the senior level roles are head of R&D, technology heads and design heads. The salary increases while switching jobs here at a senior level is 20-25%.
In finance and accounting, the skills in demand are around IPO, fundraising and business finance. Controllers and
