If you work in startups, then your good days have come, there will be a bumper increase in salary for a few years, this year up to 75% growth is possible
If you are working in Startup then your good days have come. According to the report, for the coming few years, the employee will get the most spectacular salary increase in the startup. On an average, this increase will be between 12-15 percent, which is the highest for any sector and industry. The government is also making constant efforts to strengthen the startup ecosystem. Indian startups are increasingly attracting global investors. In such a situation, startups need good and skilled employees for growth. Companies who are working with honesty and dedication, companies want to retain them with them. In return, they will be given good growth. It has been said in the report that technology companies need skilled and talented employees on a large scale.
Many startups said that they would give average salary growth of 15-25 per cent to their employees. Those who are top performers, their growth will be even more. Anandroop Ghosh of Deloitte India said that tech based startups are offering very good salaries. The kind of salary that was being offered in startups four-five years ago, the same situation has happened at present. Right now the average salary hike is estimated to be between 12-15 per cent. Rupank Chaudhary of HR service firm Aon India says that this time more salary hike will be available as compared to 2015-16. The main reason for this is that the attrition rate is higher than at that time. In such a situation, there is every possibility that companies will offer more hikes to retain their employees.
Startups like Shiprocket, UpGrad, Simplilearn, CredAvenue, HomeLane, NoBroker and CashKaro have clearly told ET that the salary hike this year will be higher than the pre-pandemic level. Some startups even say that this year the top performer can get a salary hike of up to 75 percent. Those whose salary is less, they can also be offered double salary. Apart from this, the facility of more bonus, retention bonus, tenure linked stock option (ESOP) is also being provided. In fact, startups collected a record fund of $ 36 billion in the year 2021. In such a situation, there is no shortage of funds, but these startups need a skilled and talented workforce to function. This is the reason why companies are giving such temptation to stop good employees.
