Shifting jobs may give you 15-40 percent salary hike
Shifting jobs this increment season will be a lucrative option. The average annual salary increase for senior executives this year is expected to be in the 7-12% range, while it may be much higher around 15-25%, if one is shifting jobs.
At junior levels too, average increment is expected to be higher around 25-40%, only when switching jobs. While in existing job, the average annual salary increase is expected to be around 7-20%.
Traditional industries are driving hiring activity, with manufacturing and operations roles continuing to be in high demand, says Michael Page’s salary guide for 2024. The focus this year is on renewables, electric vehicles, and automotive sectors, while demand for data, generative AI, and machine learning professionals is increasing across sectors, it adds.
A sense of resilience and positivity extends across various sectors, with consumerfocused companies, renewables, finance, and healthcare flourishing, bolstered by investments from local and domestic companies, says Nicolas Dumoulin senior MD, India, Philippines, Thailand & Vietnam PageGroup.
