The new financial year will start soon, and the working class is looking forward to the salary hike. This year India is likely to get an average salary increase of 9.5 percent. While this wage growth is slightly lower than the 9.7 percent real wage growth in 2023, it is the highest among major countries in the world.
This information has been given in a report issued by the global professional service provider company 'Aon PLC'. Accordingly, the highest wage hike of 10 percent was received in 2022 after the Corona epidemic. After that, it is seen that the situation regarding salary increase has weakened.
How much salary increase in which sector?Production 10.1%Biology 9.9%Financial Institutions 9.9%Chemicals 9.7%Professional Services 9.7%FMCG 9.6%Technology 9.5%E-Commerce 9.2%Retail 8.4%Industrial Services 8.2%
Effect of wars on wage growthGeopolitical tensions may affect wage growth in many of the world's major economies this year. Compared to that, the impact on India's wage growth is less. Hence, wage growth in India may remain the highest. The report analyzed data from 1,414 companies across 45 industries.