Bengaluru, Feb 27 More than seven in 10 (77 per cent) of professionals in India anticipate significant salary growth in their industry, while 20 per cent expect no change and only 3 per cent foresee a decline, a report showed on Thursday.
The job market highlights a significant divide in salary satisfaction, with a large portion of professionals feeling dissatisfied with their compensation growth, while professionals in select industries reporting higher contentment levels.
According to the survey by jobs platform foundit (formerly Monster APAC and ME), 47 per cent of professionals are not satisfied with their salary growth, citing low increments and unfulfilled expectations. Meanwhile, 25 per cent of respondents remain neutral -- while they acknowledge limited salary growth, they do not see it as a pressing concern.
Only 46 per cent of respondents believe their salary is above average, while 40 per cent feel it is below industry standards.
Notably, 14 per cent remain unaware of salary benchmarks in their field. Overall, as professionals gain experience, salary awareness improves, and dissatisfaction steadily declines, said the report. In the entry-level (0-3 years), over half (51 per cent) lack awareness of salary benchmarks -- the highest among all experience levels.
About 31 per cent feel underpaid, with dissatisfaction peaking in BFSI (42 per cent). At the mid-level (7-10 years), dissatisfaction further declines to 18 per cent, 22 per cent consider their pay above industry norms, with IT-Software leading.
At the senior and executive (11+ years) level, 18 per cent of senior professionals and 18 per cent of executives believe their salaries exceed industry benchmarks, the report noted. When it comes to appraisal, 35 per cent of professionals expect only a minimal hike (0-10 per cent), highlighting conservative salary growth expectations across industries, and 29 per cent anticipate a moderate growth (11-20 per cent) increment.
Entry-level professionals are the most polarised, While 20 per cent expect a minimal hike (0-10 per cent), a notable 11 per cent anticipate a high appraisal (30 per cent and above). This reflects both early career pay stagnation and strong optimism among a select group.
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