10:23
Real estate and construction industry is lagging behind its peers in terms of salary growth with average increments this year expected to be around 9.11%. Hiring outlook, however, seems to be looking up according to a recent report by staffing firm TeamLease.
TeamLease Jobs and Salaries Primer 2015 shows that information technology topped the salary growth chart with average hike of 14.71% hike expected in 2015, followed by sectors such as FMCG with average hike of 13.59%. Healthcare industry is expected to get an average hike of 12.98%, power and energy 12.55%, telecom 12.20%, retail 12.10%, media 11.83% and banking 10.80%.
"Salary increments are well below double digits in the construction & real estate industry, notwithstanding the enormous potential it is unlocking," said the report.
Hiring is happening in the real estate and construction sector, but not in full swing, says Hussain Tinwala, head, recruitment practice, real estate and infrastructure at TeamLease Services.
"Due to the supply-demand mismatch in many cities, most companies are busy in clearing their inventory backlog, which has kept the focus away from hiring," he said.
However, Tinwala expects hiring to pick up from October and November this year, driven mainly by demand from tier I and II cities. "Hiring will pick up pace in cities which needs better infrastructure from mid of FY16," he added.
Project management and civil based profiles are the most sought after jobs these days, closely followed by architects. "There is a very good demand also for people with experience in green or eco-friendly development," he said.
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