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Time of India
5 hours ago
- Automotive
- Time of India
EV boom drives salary surge in auto sector: Report
India's auto sector, particularly the electric vehicle (EV) and EV infrastructure segments, is set to see one of the highest salary increments in FY26, according to TeamLease Services' latest Jobs and Salaries Primer report. The study revealed that the EV and EV infrastructure domain is projected to register an average salary hike of 11.3 per cent in FY26 — the highest across all surveyed sectors — indicating strong hiring momentum and talent demand within the rapidly growing clean mobility space, reported news agency ANI . Based on insights from 1,308 businesses across 23 industries and 20 cities, the report pointed to a significant shift in compensation trends driven by India's accelerating transition to sustainable mobility. It noted that demand for skilled professionals in technical, engineering, and frontline roles was pronounced in the EV ecosystem, which is attracting both investor capital and policy attention. With favourable macroeconomic conditions, increased EV adoption, and the government's focus on green mobility through production-linked incentives and state EV policies, the auto sector is poised for both structural and human capital expansion in FY26. Other sectors which expect a boom? Closely linked sectors such as consumer durables and retail are also expected to post double-digit salary growth, 10.7 per cent each, while traditional automotive roles will see steady hikes of up to 9.5 per cent. Notably, Pune — a major auto and EV hub — leads the list of cities with the highest average increment, 10.4 per cent, underscoring its growing significance as a talent hotspot for mobility companies. 'EV is no longer a fringe vertical — it's becoming central to the Indian auto industry's future roadmap,' said Kartik Narayan, CEO - Staffing, TeamLease Services. He added that as new-age industries scale rapidly, they are witnessing a sharp shift in demand toward roles that blend engineering capabilities with immediate business impact. Even blue-collar roles such as mechanics and material handlers are now commanding double-digit wage hikes. The report also highlighted the continued expansion of engineering and IT roles in the auto sector, driven by the integration of AI, IoT, and connected car technologies. Engineering functions across industries are expected to see average hikes of 9.5 per cent, while IT roles are pegged at 9.2 per cent, indicating that digital transformation remains a key talent driver. The report concludes that as India's labour market evolves, the automobile industry — especially its EV vertical — will continue to be a bellwether for salary growth and talent innovation, reshaping the future of mobility careers.
Time of India
9 hours ago
- Automotive
- Time of India
Salary hikes: How much increment can you expect this year? Here's what a new report suggests
Representative AI-generated image Indian businesses are projected to offer average salary increases between 6.2 per cent and 11.3 per cent this financial year, as companies adapt their workforce approaches with enhanced focus on skill certifications and performance-based engagement, according to a report released on Tuesday. The TeamLease Services - Jobs and Salaries Primer 2025-26 report, cited by news agency PTI, indicates that while average salary increases will range from 6.2 per cent to 11.3 per cent across sectors, certain role-specific increments could reach 13.8 per cent. "The projected salary growth, ranging from 6.2 per cent to 11.3 per cent, signals a broader realignment in India's job and wage landscape. As new-age industries scale rapidly, demand is shifting toward roles that combine technical capability with immediate business impact," TeamLease Services CEO - Staffing, Kartik Narayan said. The analysis, incorporating data from 1,308 organisations across 23 industries and 20 cities, reveals highest salary growth expectations in EV and EV infrastructure (11.3 per cent), consumer durables (10.7 per cent), retail (10.7 per cent), and NBFCs (10.4 per cent). Leading positions with maximum salary increases include Electrical Design Engineer (12.4 per cent) in EV & EV Infrastructure, In-Store Demonstrator (12.2 per cent) in Consumer Durables, Relationship Executive (11.6 per cent) in NBFC, and Fashion Assistant (11.2 per cent) in Retail. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Dubai villas | search ads Get Deals Undo The study identifies significant improvements in blue-collar compensation, driven by increased infrastructure investments, expanding EV sector, and recovery in real estate and manufacturing. Notable growth in blue-collar salaries includes mechanic (10.4 per cent), material handler (10 per cent), machine operator (9.9 per cent), and electrician (9.3 per cent). "In the upward momentum in blue-collar wages even the traditionally stable roles like mechanic and material handler are seeing double-digit hikes. We see this shift as a critical signal for employers to align hiring with new growth engines, and for job seekers to upskill toward relevance and resilience," Narayan said. Companies are revising their workforce strategies, emphasising skill certification, retention, and incentive-based engagement amidst growing competition for skilled operational workers. Specific roles in various cities show remarkable salary increases: Quality Control Inspector (13.8 per cent) in Pune, MIS Executive (13.4 per cent) in Hyderabad, Data Engineer (12.9 per cent) in Bengaluru, Electrical Design Engineer (12.6 per cent) in Mumbai and Sales Executive (12.4 per cent) in Gurgaon. Sales and marketing roles lead functional areas with projected average salary increases of 9.9 per cent, followed by engineering at 9.5 per cent. Other essential functions including finance, customer service and back office, blue collar, and HR and admin anticipate moderate increases between 8.2 per cent and 8.6 per cent, suggesting balanced growth across crucial business areas. Stay informed with the latest business news, updates on bank holidays and public holidays . Discover stories of India's leading eco-innovators at Ecopreneur Honours 2025
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Business Standard
10 hours ago
- Automotive
- Business Standard
India Inc to offer avg salary hike of 6.2-11.3% across industries: Report
Corporate India is expected to dole out average salary hike in the range of 6.2 per cent to 11.3 per cent this fiscal, as employers are reshaping their workforce strategies by focusing more on skill certification and incentive-led engagement, a report said on Tuesday. According to the TeamLease Services - Jobs and Salaries Primer 2025-?26 report, the average salary hikes is projected to be in the range between 6.2 per cent and 11.3 per cent across industries, while some role-level salary increments are expected to reach up to 13.8 per cent. "The projected salary growth, ranging from 6.2 per cent to 11.3 per cent, signals a broader realignment in India's job and wage landscape. As new-age industries scale rapidly, demand is shifting toward roles that combine technical capability with immediate business impact," TeamLease Services CEO - Staffing, Kartik Narayan said. The report, based on inputs from 1,308 businesses across 23 industries and 20 cities, noted that the highest salary increments are expected in sectors such as EV and EV infrastructure (11.3 per cent), consumer durables (10.7 per cent), retail (10.7 per cent), and NBFCs (10.4 per cent). Top roles within industries with the highest salary increment are Electrical Design Engineer (12.4 per cent) in EV & EV Infrastructure, In-Store Demonstrator (12.2 per cent) in Consumer Durables, Relationship Executive (11.6 per cent) in NBFC, and Fashion Assistant (11.2 per cent) in Retail, it added. The report also found a strong blue-collar rebound as this segment is now experiencing healthy increments, driven by rising infrastructure investments, the expanding EV ecosystem, and the ongoing revival in real estate and manufacturing. The fastest-growing blue-collar roles are mechanic (10.4 per cent), material handler (10 per cent), machine operator (9.9 per cent), and electrician (9.3 per cent), it stated. "In the upward momentum in blue-collar wages even the traditionally stable roles like mechanic and material handler are seeing double-digit hikes. We see this shift as a critical signal for employers to align hiring with new growth engines, and for job seekers to upskill toward relevance and resilience," Narayan said. Amid increasing competition among skilled operational workers, employers are reshaping their workforce strategies by focusing more on skill certification, retention, and incentive-led engagement, the report said. A few of the roles within cities are expected to show exceptional salary increments -- Quality Control Inspector (13.8 per cent) in Pune, MIS Executive (13.4 per cent) in Hyderabad, Data Engineer (12.9 per cent) in Bengaluru, Electrical Design Engineer (12.6 per cent) in Mumbai and Sales Executive (12.4 per cent) in Gurgaon among others, it added. The report further noted that across functional areas, sales and marketing roles are projected to see the highest average salary increment at 9.9 per cent, followed closely by engineering (9.5 per cent). Other core functions, such as finance, customer service and back office, blue collar, and HR and admin, are expected to receive moderate hikes of between 8.2 per cent and 8.6 per cent, indicating a balanced growth trend across business-critical areas. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Time of India
11 hours ago
- Automotive
- Time of India
Tech, EVs, retail to drive India's salary boom in FY26: TeamLease
Academy Empower your mind, elevate your skills India's salary landscape is poised for a transformation in FY 2025-26, with Electric Vehicles (EV), Consumer Durables, and Retail sectors leading the pay hike parade, according to the latest "Jobs and Salaries Primer" report of TeamLease Services The report, which surveyed 1,308 businesses across 23 industries and 20 cities, identifies EV & EV Infrastructure as the frontrunner, with an average projected salary increment of 11.3%, followed closely by Consumer Durables and Retail at 10.7% each. Non-Banking Financial Companies (NBFCs) are also among the top paymasters, registering 10.4% growth. The report attributes this surge to robust demand in frontline and technical industries such as Construction, Automotive, Travel & Hospitality, FinTech, and Healthcare Industry will see increments between 8.1% and 9.5%.At the other end of the spectrum, sectors like Manufacturing, Media, BPO, and Educational Services are expected to show restrained salary growth, ranging between 6.2% and 7.9%.Geographically, Pune leads all cities with the highest projected average increment of 10.4%, driven by its concentration of EV, Automotive, and Consumer Durable companies. Mumbai, Hyderabad, Bengaluru, and Gurgaon follow closely, all clocking average hikes above 10%.In terms of functions, Sales & Marketing is expected to top the growth chart with an average increment of 9.9%, followed by Engineering at 9.5%. IT roles are also witnessing consistent growth with 9.2% average hikes, indicating the continued digital transformation across the report highlights a trend of rising salary parity between temporary and permanent positions across several industries, especially in sectors like Insurance, Banking, and on the findings, Kartik Narayan, CEO- Staffing, TeamLease Services, said, "As new-age industries scale rapidly, demand is shifting toward roles that combine technical capability with immediate business impact. What's equally telling is the upward momentum in blue-collar wages, where even traditionally stable roles like mechanic and material handler are seeing double-digit hikes. We see this shift as a critical signal for employers to align hiring with new growth engines, and for job seekers to upskill toward relevance and resilience."The report emphasised the ongoing shift in India's labour market dynamics, where both digital and core infrastructure sectors are reshaping compensation trends. "Roles that were once seen as support functions are now taking centre stage in driving growth," it India's macroeconomic indicators showing resilience and growth-focused sectors betting big on skilled talent, FY26 is likely to be a year of optimism for job seekers, particularly in high-growth cities and innovation-led industries.
Mint
21-06-2025
- Business
- Mint
As job freeze grips India, mid-level managers feel the chill
Next Story Devina Sengupta India's corporate sector is experiencing a significant hiring slowdown, affecting mid-level managers and driven by geopolitical crises and business realignment amid AI's impact. Hiring mandates have dropped by 18-20% across many sectors, with overall unemployment rising to 5.6%. The warning that the hiring mandates in the contract staffing space are going down comes within days of government data showing the unemployment rate rose to 5.6% in May from 5.1% in April. Gift this article From boardrooms to back offices, India Inc. is hitting the brakes on hiring. This time, it's not just about IT—mid-level managers are feeling the freeze, while top roles remain the only sure bet. From boardrooms to back offices, India Inc. is hitting the brakes on hiring. This time, it's not just about IT—mid-level managers are feeling the freeze, while top roles remain the only sure bet. The crisis in the Middle East, poor visibility and business realignment as companies measure the impact of artificial intelligence have caused hesitancy in the job market. Slower hiring in India's private sector mirrors the overall increase in unemployment, driven by fewer rural jobs. 'There is a degrowth in many sectors in terms of headcount addition. When compared quarter on quarter, most of the sectors have shown an 18-20% dip in hiring mandates," said Guruprasad Srinivasan, group chief executive officer (CEO) of staffing firm Quess Corp. 'The sectors are showing a kind of withdrawal symptom from hiring. The year-on-year numbers do not look encouraging either. Quess has about 1,300 open mandates in the IT and Global Capability Center (GCC) sector, about 18% down from the April-June period of last year. Banking and financial services (BFSI) mandates have fallen by at least 20%, while auto and engineering by 13% in the first quarter of the fiscal year, when compared on a like-for-like basis. Srinivasan pointed out that the consumer and retail sector remains flat, while the only sector showing some growth is manufacturing and construction. The drop in hiring mandates at contract staffing firms reflects the increase in the unemployment rate to 5.6% in May from 5.1% in April. It was the domino effect of a shift in rural employment away from agriculture, according to data released Monday by the ministry of statistics and programme implementation (MoSPI). According to the MoSPI, the contraction in agricultural activity affected both men and women in rural areas. Changing tack Quess' rival TeamLease Services has also cautioned about a damp hiring environment. 'There is a relative slowdown in private sector hiring. Of the 600 million people participating in India's labour force, 80 million are employed in the formal sector. When further distilled, 6 million of the 80 million fall into the third-party contract staffing space," said Balasubramanian A., senior vice-president and business head at TeamLease Services. 'There may not be large-scale layoffs, but a measured approach in hiring." Also read: TCS offers vendor bonus to speed up quality hiring According to the Teamlease Employment Outlook report, 47% of employers anticipate workforce expansion, 25% expect reductions, and 28% foresee no change, resulting in net employment change (NEC) of +2.8% in the April-September months of this fiscal. The NEC for the earlier six months (October 2024-March 2025) was +7.1%, signalling a 'deliberate pivot toward demand-sensitive and cost-conscious hiring". The hiring industry includes staffing firms that provide a third-party workforce, where the employee works for a firm but is on the payroll of the hiring vendor. Then, there are recruitment companies that place junior and middle-management executives in companies. Search firms look at hiring top-level executives. Mint detailed in May how large tech-enabled businesses such as Zomato, Cars24, and Gupshup, among others, have laid off employees over the past quarter. Many others, such as Swiggy and Flipkart, have pruned divisions and reassigned staff to other roles. Globally, too, big tech firms like Microsoft are pruning their workforce. Mid-level executives Job opportunities for the middle-order executives were scarce in the April-June period. 'There is a 15% dip in the hiring mandates of executives who have four to eight years of experience in the consumer, pharmaceutical, hospitality and financial services," noted Anshuman Das, chief executive and co-founder of Careernet, a talent solutions provider. But a year-on-year comparison may be unjustified, as Das pointed out. 'When one compares on a like-to-like basis, the drop in hiring mandates will widen because there were no tariff-related challenges and the global uncertainty was still limited to the Russia-Ukraine war." Leadership hiring is turning out to be a mixed bag and some businesses are urgently looking for CXOs. In fact, Mint wrote this week that even in the case of open positions, job seekers are hesitant about joining a new firm as they are afraid of sudden changes in the firm's need for a new person as the geopolitical climate and global economy play truant. The last man in will be the first one out—a fear that has gripped many. 'It is client specific and we are seeing good traction in industrial manufacturing, pharmaceutical, automotive and auto ancillary and Indian firms who want to set up base in Africa and Latin America," said K. Sudarshan, managing director for the search firm EMA Partners India Ltd. He pointed out that the FMCG hiring, on the other hand, is 'tepid". Topics You May Be Interested In Stay updated with the latest Trending, India , World and United States news. Get breaking news and key updates here on Mint!
