2016 Startup Scene Set To Witness A Record Salary Increase
Despite the fear of consolidation in the startup environment, the salary increase in this sector has been off the charts among all the sectors, this financial year. Aon Hewitt, which is the global talent, retirement and health solutions’ business of Aon plc., has concluded that there is a 15.6% increase in the salaries of new companies and startups. Aon Hewitt’s surveys points out how these firms continue to stand out though they are in their early years and continue to get hiked profits.
With a whopping 15.6% increase, the startups top the list of sectors that would witness a salary hike in 2016. The other sectors which would see a salary hike include Life Sciences, Media, Hi-tech industries and consumer products. A partner of Aon Hewitt, AnandorupGhosestated that increased availability of funding and the specialist needs have led to the salary increase in the startup environment. Overall, Hewitt has projected a 10.3 percent salary rise for India Inc. in 2016, compared to the 10.6 percent increase in the previous year. The data from about 700 countries across 19 industries was analyzed for this survey.
“With this year’s numbers, we are seeing a confirmation of our view that Indian companies are taking very clear steps to arrest the steady increase in compensation budgets. The lower inflation rates in the economy has also helped companies in deciding on the reduced salary increases without creating too much of a disruption in the lives of employees.”Ghose pointed out.