February 24, 2023
The projected increase continues to be in the double digits despite concerns about economic volatility, due to attrition rates
The attrition rate in India stood at 21.4% last year
The hike in salaries ranged from a high of 12.2% for employees in the e-commerce
Salary hikes for employees stood at 9.7% in retail and 9.6% in other services
Salaries in India are projected to increase by an average of 10.3% in the current calendar year, despite the economic volatility, according to a report by global professional services firm Aon plc.
According to the report, the projected increase continues to be in the double digits despite concerns about economic volatility, as a result of attrition rates. The attrition rate in India stood at 21.4% last year.
The study, which analyzed 1,400 companies from over 40 industries, revealed that the hike in salaries ranged from a high of 12.2% for employees in the e-commerce sector to 9.7% in retail and 9.6% in other services.
Source: Times of India