AI, EV, Chip Roles Command 30% Pay Hikes; Three Times Market Average

A new salary report suggests that experience alone is no longer the primary currency of career advancement. What employers are paying for in 2026 is scarcity, and the gap between those who have it and those who don't is growing wider by the year.

The India Salary Guide 2026 by recruitment firm Michael Page, reported by Business Standard first, finds that professionals switching jobs in high-demand fields — artificial intelligence (AI), semiconductors, electric vehicles, battery technologies and renewable energy — are commanding salary increases of up to 30% on the move, against a broader market average of just 9.1%. AI and data science job postings alone grew 49% year on year.

At the upper end of the earnings spectrum, the numbers remain eye-catching. Chief financial officers at companies with revenues above ₹10,000 crore earn between ₹1.75 crore and ₹8 crore annually. Private equity managing directors at global funds take home ₹4 crore to ₹6 crore, whilst investment banking MDs in mergers and acquisitions at multinational banks earn ₹2.5 crore to ₹4 crore — a reflection of record hiring activity driven by a surge in IPO transactions and private equity deal-making.

While senior leadership salaries are soaring, the entry-level market is seeing a "decentralised" recovery. The ₹20+ LPA Bracket: This is the fastest-growing segment in the IT sector, surging by 23%. Companies are moving away from mass-hiring junior developers and are instead hunting for "high-value" expertise at the mid-to-senior level.

Global capability centres are projecting the highest average increments in the market at 10.4%, having shed their back-office image in favour of becoming genuine innovation hubs. Real estate roles tied to sustainability and AI are seeing hikes of 35 to 50%. Even human resources has entered the crore club, with HR heads at large listed firms now earning ₹1.5 crore to ₹4 crore annually.

The flipside is equally telling. Chemicals are projecting increments of 8.3%, traditional manufacturing sits around 9.5%, and conventional IT services roles below ₹20 lakh per annum have gone largely nowhere.