Employees working under India Inc can expect 9.7% hike in the salaries in the current year, a professional services firm- Aon reported in its latest survey. The positive economic outlook is seen as an aftermath of high growth rate, low inflation and high domestic demand.
The survey also indexed to the declining voluntary attrition and controlled incremental hiring which has substantially affected the positive economic outlook. The hike in salary is 0.2% higher then the last year’s projected hike of 9.5%.
The study, the largest and the most comprehensive of its kind in India, took into cognizance data across 1000+ companies from more than 20 industries across India.
“Pay increases are marginally positive compared to earlier years – a big highlight is the reducing difference in pay increases across industries year on year. A lot of the pay increase decline is also reflected in the constant drop in voluntary attrition levels across industries,” said Anandorup Ghose, Partner and Head Emerging Markets, Aon.