The salaries of sales and technology professionals have increased significantly with a median increment of 7.12%, according to the latest TeamLease’s jobs and salaries primer report 2021. The increment in salaries for specialised jobs increased to 11% as these professions became very critical for business growth during the pandemic. According to the report, sales, IT functions and super-specialised jobs are being rewarded with handsome compensation.
The annual report which analyses the hiring and salary trends across industries has taken the salary payouts of over 2,63,000 candidates across 17 sectors and nine cities into consideration
The three sectors where the salaries have witnessed a 10% growth are BFSI (banking, financial services & insurance), healthcare & allied industries, and information technology & knowledge services.
Five out of the 17 sectors created new hot jobs and seven sectors created new upcoming jobs.
Hot jobs include artificial intelligence specialist (BPO and IT-enabled services), augmented reality expert (e-commerce and tech start-ups), genomic portfolio director (healthcare and allied industries), master edge computing (information technology and knowledge services), digital imaging leader (retail)
Super-specialised jobs are here to stay. High expertise-based job profiles have steadily grown in criticality, over the last 12 months, and are seen by employers to be indispensable. These attract around 11% salary increment or more, as compared with market averages ranging between 1.73% (minimum) and 14.07% (maximum) across sectors and cities.
Banking, financial services and insurance, healthcare and allied industries and information technology and knowledge services exhibited growth in excess of 10%
Top super-specialised profiles include banking trainer, compliance officer and software test specialist.
Sales and IT functions are all the rage. With technology becoming ubiquitous, and a necessary condition to operate during the pandemic, the IT function has grown in stature across businesses over the year. The hiring of Sales roles has gained momentum ever since the lockdowns were phased out.
Top Sales profiles: Brand center executive, merchant relationship executive, CRM, and sales administrator, and influencer marketer.
Top IT profiles: SQL analyst, UI designer, software test specialist, and IT infrastructure engineer.
In FY 20-21, Bangalore, Chandigarh, Chennai, Delhi, Hyderabad, Mumbai, and Kolkata are the top cities that drive job creation in urban centers.
Healthcare & Pharmaceuticals – Salaries grew by a maximum of 10.33% in Delhi\
Banking, Financial Services, and Insurance – Salaries grew by a maximum of 10.03% in Bangalore
According to the Teamlease report, cities like Bengaluru, Chandigarh, Chennai, Delhi, Hyderabad, Mumbai, and Kolkata are going to be the drivers of job creation as the country is coming out of the second wave. The economic revival is expected to be faster in these cities because the reach of vaccination is high there.
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Some joint life insurance plans offer fixed monthly payments to the spouse in case of the death of the primary insured
You’re not alone if you’re in this dilemma. It’s certainly a prudent financial decision to pre-pay the home loan at regular intervals.
The logical question then is why is there an insurance of deposits up to Rs 5 lakhs if all the savings are safe?
In a joint term insurance plan, not many insurers provide add-on covers along with a primary joint life insurance plan