Jobs and Salaries Primer FY 2022-23 : The Ultimate Guide to High and Low Paying Jobs

Top and bottom paymasters

In recent years, several industries in India have witnessed significant salary growth. Telecommunication, Media & Entertainment, and  IT & Knowledge Services are the top three industries that have experienced notable salary growth in FY 22-23. While BFSI, Automobile & Allied, and Agriculture & Agrochemicals have witnessed relatively lower salary growth in FY 22-23.

Industries with steady and quick job growth

Agriculture and Agrochemicals industry has experienced a remarkable digital transformation, leading to the emergence of highly lucrative “hot jobs.” IT and Knowledge Services industry remains committed to offering attractive rewards across job categories and prioritises investment in growth-focused roles.

The BFSI industry is actively generating diverse job roles in both hot and longstanding sectors while optimising payouts. BFSI industry is leveraging technology to improve efficiency, drive innovation, and stay competitive in an increasingly digital world.

Resilience amidst attritions, layoffs and changing world of work

While it is assumed that the storm caused by various global headwinds has begun to subside and transition into a phase of recovery, it is crucial to acknowledge that salary continues to be a significant motivating factor for candidates when deciding where to work. In the aftermath of the Great Resignation, layoffs, and attrition, companies should proactively review their salary structures and explore non-monetary strategies to enhance talent attraction and retention.

Implementing learning solutions and upskilling initiatives can be a powerful strategy to combat organisational attrition. By offering employees opportunities to enhance their skills and knowledge, companies demonstrate a commitment to their professional development and growth. Upskilling programs equip employees with the necessary competencies to thrive in their current roles and provide them with a sense of purpose and motivation to stay with the organisation. Companies can cultivate a culture that values growth and creates a positive work environment by prioritising continuous learning, investing in employee development, fostering engagement, and implementing strategies to reduce attrition rates. Moreover, employees who feel supported in their professional growth are more likely to remain loyal and contribute to the organisation’s long-term success.

The future belongs to those who are resilient and agile. In today’s rapidly changing work scenario, adaptability is crucial. Willingness to embrace and invest in new technologies, work methodologies, and skilling programs will help businesses stabilise and foster long-term growth.

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