As the increment season sets in, it's time to gauge the employee mood. Is he expecting a handsome hike or is he planning to switch jobs? Money Today, along with Naukri.com, conducted an online survey and found that though the term 'good hike' has been redefined due to the slowdown, most respondents are expecting to be compensated for last year's poor show.
Are you satisfied with your current salary?
68 per cent: No, because the economy and the hiring situation have improved.
18 per cent: Yes, considering the job losses in the recent past and the current situation.
14 per cent: I'm not in a position to leave my job and am, therefore, satisfied.
70 per cent of respondents were in the 20-30-year age group.
24 per cent were between 30 and 45 years of age.
5 per cent were above 45 years, with the rest below 20 years.
What is the percentage of increment you got last year?
38 per cent: None/Pay cut.
24 per cent: 5-10 per cent.
23 per cent: More than 10 per cent.
15 per cent: Less than 5 per cent.
1,69,855 respondents answered this question.
What would constitute a 'good' hike for you?
15 per cent: At least 10 per cent.
37 per cent: 10-20 per cent.
48 per cent: More than 20 per cent.
1,69,813 respondents answered this question.
Is taxation a worry in case you get a good increment?
72 per cent: Not sure.
28 per cent: Yes, I may shift to a higher tax bracket.
Do you think your employer will give a 'good' salary hike this year?
67 per cent: Yes.
18 per cent: No.
15 per cent: Not sure.
1,70,864 respondents answered this question.
What do you plan to do if you get a lump-sum payment?
44 per cent: Clear some of the debt.
43 per cent: Invest for better returns.
13 per cent: Spend.
1,66,586 respondents answered this question.
What will be the single biggest motivation to switch jobs?
55 per cent: Salary.
30 per cent: Role.
15 per cent: Better brand.
1,69,901 respondents answered this question.
Will variable pay be an incentive to stay with your company?
55 per cent: Yes, it shows I am valued.
26 per cent: Only if it adds to the increment.
19 per cent: No, it is discriminatory.
30 per cent had less than 2 years' experience.
30 per cent had 2-5 years' experience.
18 per cent had more than 10 years' experience.
Which sectors do you think will pay the most?
35 per cent: Manufacturing/Engineering.
31 per cent: Financial services.
14 per cent: IT and ITeS.
9 per cent: Education.
11 per cent of respondents chose 'Others' as an option.
1.7 lakh total number of respondents.
Will you consider switching after the pay hike?
62 per cent: Yes, if I get a better offer.
18 per cent: Only if the hike is poor.
11 per cent: No.
9 per cent: Not sure.
Is a change in career an option after the market recovers?
1,68,180 respondents answered this question.
63 per cent: Yes, another salaried job after I upgrade my skills.
26 per cent: No, slowdown was temporary.
11 per cent: I am planning to start my own venture.
Why do you think you should get a good raise?
32 per cent: Other job opportunities.
27 per cent: Company is doing well.
24 per cent: Rising prices.
17 per cent: Last year's was poor.