EV, FinTech jobs set to deliver biggest raises

New Delhi: Indian employees can expect salary increments ranging between 8.6 per cent and 10.2 per cent in FY2026-27, depending on their industry and role, with workers in EV infrastructure, fintech, healthcare and engineering-related functions likely to see the biggest pay hikes, showed the findings of TeamLease Services’ Jobs and Salaries Primer FY2026-27 released on Tuesday.

The report, based on responses from 1,268 businesses across 23 industries and 20 cities, projects the strongest salary growth in high-growth sectors such as EV and EV infrastructure, fintech, healthcare and pharmaceuticals, and power and energy, where increments are expected to range between 9.6 per cent and 10.2 per cent.

At the role level, electrical engineers are projected to receive the highest salary increases at 11.2 per cent, followed by quality control inspectors at 10.9 per cent, project engineers at 10.7 per cent, IT support executives at 10.3 per cent, and quality assurance engineers and site engineers at 10.2 per cent each.

“India’s salary landscape in FY 2026–27 is becoming more differentiated and execution-led,” said Balasubramanian A, senior vice president at TeamLease Services. “Increment trends are increasingly being shaped by sector-specific growth and specialised skills.”

Industries classified as sustainable-growth sectors, including automotive, retail, insurance and BPO, are expected to offer salary hikes of 8.9 per cent to 9.5 per cent. Within these sectors, project engineers are projected to see increments of 10.7 per cent, while EHS officers, IT support executives, and relationship executives are likely to receive hikes of 10.1 per cent.

Meanwhile, banking, construction and real estate, telecommunications and textiles are expected to record more moderate salary growth of 8.6 per cent to 8.8 per cent. Even in these sectors, certain roles continue to command premium increases, including site engineers (9.8 per cent), tele callers (9.7 per cent), and financial reconciliation analysts and IT support executives (9.5 per cent each).

However, a prolonged spell of geopolitical tensions and inflationary pressures could temper projected salary growth in the 2026-27 appraisal cycle, according to TeamLease Services. Businesses may become more cautious if higher input costs and economic uncertainty persist.

“If geopolitical tensions, inflationary pressures and higher input costs persist over the coming months, they could influence business performance and cost planning for the FY27 cycle. In such a scenario, organisations may adopt a more cautious approach to salary budgets while continuing to prioritise critical talent and high-performing employees,” said Balasubramanian.

He added that even if headline salary hikes remain unchanged, elevated inflation could erode real wage gains by reducing employees’ purchasing power.

Across functions, demand remains strongest for sales and marketing, engineering and IT talent. Relationship executives in NBFCs are projected to receive salary hikes of 10.1 per cent, while marketing executives, automotive showroom sales professionals and FMCG area sales managers are expected to see increments of around 10 per cent.

The report also points to rising wage growth among blue-collar workers. EV charger installation technicians are expected to receive salary increases of 10.3 per cent, while field service technicians and logistics loaders or unloaders could see hikes of 9.6 per cent and 9.5 per cent, respectively. Service technicians in the consumer durables sector are projected to receive 9.4 per cent increments.

Among cities, Chennai is projected to lead salary growth at 9.7 per cent, followed by Pune and Hyderabad at 9.6 per cent each, and Ahmedabad at 9.5 per cent. Emerging centres such as Visakhapatnam (9.5 per cent) and Nagpur (9.4 per cent) are also gaining ground, while Surat, Chandigarh and Lucknow are expected to record slower growth than last year.

“Compensation growth is no longer concentrated only in traditional metro markets,” Balasubramanian said. “Emerging cities are steadily strengthening their position in the talent economy, supported by industrial expansion, enterprise investments and evolving business ecosystems.”

The report also highlighted widening pay disparities between permanent and temporary workers. Manufacturing, engineering and infrastructure recorded the highest compensation variance at 11.4 per cent, followed by insurance (9.9 per cent), banking (9.8 per cent) and healthcare and pharmaceuticals (9.3 per cent). In contrast, IT (4.9 per cent), fintech (4.8 per cent), power and energy (4.3 per cent) and travel and hospitality (4.2 per cent) showed relatively stable pay structures.

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