EVs, Retail, and Tech to drive India's salary boom for FY26: TeamLease Report

The report, which surveyed 1,308 businesses across 23 industries and 20 cities, identifies EV & EV Infrastructure as the frontrunner, with an average projected salary increment of 11.3 per cent, followed closely by Consumer Durables and Retail at 10.7 per cent each. Non-Banking Financial Companies (NBFCs) are also among the top paymasters, registering 10.4 per cent growth. The report attributes this surge to robust demand in frontline and technical roles.

Meanwhile, industries such as Construction, Automotive, Travel & Hospitality, FinTech, and Healthcare Industry will see increments between 8.1 per cent and 9.5 per cent.

At the other end of the spectrum, sectors like Manufacturing, Media, BPO, and Educational Services are expected to show restrained salary growth, ranging between 6.2 per cent and 7.9 per cent.

Geographically, Pune leads all cities with the highest projected average increment of 10.4 per cent, driven by its concentration of EV, Automotive, and Consumer Durable companies. Mumbai, Hyderabad, Bengaluru, and Gurgaon follow closely, all clocking average hikes above 10 per cent.

In terms of functions, Sales & Marketing is expected to top the growth chart with an average increment of 9.9 per cent, followed by Engineering at 9.5 per cent. IT roles are also witnessing consistent growth with 9.2 per cent average hikes, indicating the continued digital transformation across sectors.

Significantly, the report highlights a trend of rising salary parity between temporary and permanent positions across several industries, especially in sectors like Insurance, Banking, and Retail.

Speaking on the findings, Kartik Narayan, CEO- Staffing, TeamLease Services, said "As new-age industries scale rapidly, demand is shifting toward roles that combine technical capability with immediate business impact. What's equally telling is the upward momentum in blue-collar wages, where even traditionally stable roles like mechanic and material handler are seeing double-digit hikes. We see this shift as a critical signal for employers to align hiring with new growth engines, and for job seekers to upskill toward relevance and resilience."

The report emphasized the ongoing shift in India's labor market dynamics, where both digital and core infrastructure sectors are reshaping compensation trends. "Roles that were once seen as support functions are now taking center stage in driving growth," it noted.

With India's macroeconomic indicators showing resilience and growth-focused sectors betting big on skilled talent, FY26 is likely to be a year of optimism for job seekers, particularly in high-growth cities and innovation-led industries. (ANI)