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'India Inc. expected to get 10.6 percent pay hike'

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  20 Feb 2015 12:00 AM GMT

New Delhi, February 19: Global talent, retirement and health solutions provider Aon Hewitt on Thursday projected a 10.6 percent salary increase for India Inc. in the current year. The latest findings were furnished by the company in its 19th annual salary increase survey of more than 580 companies. The survey results reflect a positive yet cautious sentiment in India Inc. towards salary increases, the firm said. “On the back of improving business confidence, a stable government and moderating inflation there is a significant improvement in business confidence across companies, however this confidence is not reflecting in salaries,” said Andorup Ghose, rewards consulting practice leader at Aon Hewitt India. The projected salary increase number shows a subtle improvement over increments in the last three years, Ghose said. Sectors such as life sciences, engineering services, chemicals and media are among the industries with higher increase in pay than the market average. However, real estate and infrastructure sector is expected to lead the salary increase pack this year. Meanwhile, services industries like retail, fincial institutions and hospitality represented the lower end of salary increase projections. The survey highlighted that top performers are expected to get 1.6 times the salary increase of average performers. This trend is evident in most of the service industries such as banking and other fincial services (BFSI). (IANS)

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