Reduced salary increments from Indian IT in 2013

The result of the 17th edition of the Annual Salary increase Survey was announced on February 20th by Aon Hewitt.

India projected an average salary increase of 10.3 percent for 2013, while IT sector is likely to dole out lower increments as compared to 2012.

Margin compression, a caution outlook in terms of the global economic state and large bench strength have led to IT service organizations projecting a conservative salary increase of 9.6 percent.

IT product organizations, fuelled by growth opportunities in the domestic market and greater penetration in Tier II cities have posted comparatively higher salary increase of 11.2 percent.

An average increase in salary for 2013, of Indian ITeS has been projected to be 10.1 percent and a 10.2 percent salary increase projected by BFSI captives and other captives.

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Moreover, an 8.9 percent increase has been posted by third party service providers, over an average salary increase of 10.5 percent by high-tech industries.

Attrition stood second highest in ITeS industry, at the same time the second lowest rate in 2012 was posted by telecom sector.

In order to safeguard this talent group, organizations were reshaping their strategies.

Organizations were creating sharp differentiation in salary increases between their key talent and the rest of the population and this gap has been widening for over the years.

Key talent is projected this year in order to get an average increase of 14.1 percent. Whereas, the report also said that technology and outsourcing sectors had been among the most volatile and would be cautious in the coming year.

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