Salary Hike: According to a recent report, let us tell you that global professional service firm Aon has conducted a survey regarding salary hike in India this year. According to this, the average salary of people may increase by 9.5 percent in 2024. This is slightly less than last year’s average of 9.7 percent…
Do you work? Then you will have to wait for the salary increase for a whole year and in the month of February-March, your heartbeat also starts increasing. It has been known how much your salary will increase after appraisal this year. Most companies complete their appraisal cycle between March and June.
Global professional services firm Aon has conducted a survey regarding salary hike in India this year. According to this, the average salary of people may increase by 9.5 percent in 2024. This is slightly less than last year’s average of 9.7 percent, although it is almost the same.
In the survey, companies agreed to increase salaries-
Aon conducted a survey among about 1,414 companies from 45 industries. 3 out of every 4 companies agreed that this year employees will get a salary hike of 9 percent. Expectations of salary increase have also been affected due to mild business sentiment in technology consulting and services, e-commerce and retail sectors.
How much will the salary increase in which industry?
If Aon’s survey report is to be believed, then non-banking finance companies (NBFCs) can give the best salary hike this year, a growth of around 11.10 percent. Last year a growth of 10.70 percent was seen in this sector. Similarly, if we look at the list of top-5 sectors, this year the salary hike is expected to be 10.10 percent in engineering sector, 9.90 percent in automobile, 9.90 percent in financial institution and 9.80 percent in banking.
The salary growth can be 9.2 to 9.6 percent in e-commerce sector, 8.4 percent to 9.2 percent in retail sector, 8.5 to 9 percent in startup and 8.2 percent to 9.1 percent in technology consulting.
Salary hike in the country has become stable after Covid. For the last 3 years, its growth has been seen in single digits only. The last time the better salary was increased only in 2022.
