Now the time is going on for increase in appraisal and salary in companies. This time is most important in the entire financial year. It is an important part of the year. In the year 2023, the average salary in India is expected to increase by 10.2 percent, which is less than last year.
New Delhi. Now is the time of the year when the performance of the employees is evaluated in most of the companies. At the same time, their appraisal and salary are also increased, along with this, the employees are also retrenched. That is, this time is an important part of the entire financial year. Let us tell you that the average salary in India is expected to increase by 10.2 percent in 2023.
Let us tell you that according to the ‘Future of Pay’ report 2023 for the financial year 2022-23, the average salary in India will increase by 10.2 percent in 2023. This is less than the actual increment of 10.4 per cent in the last financial year 2022.
There will be the highest salary hike in these sectors.
The top three sectors with the highest estimated salary hike this year are related to technology. In the year 2023, the highest salary increase of 12.5 percent is estimated in the e-commerce sector. On the other hand, an average salary hike of 11.9 per cent is expected in the professional services sector. At number three is the IT sector facing retrenchment at the global level, in which a salary hike of 10.8 percent has been estimated.
According to the EY report, in the year 2023, India is expected to get more jobs in the financial technology sector along with renewable energy, e-commerce, digital services, healthcare, telecommunications, educational services, retail and logistics . In these sectors, it is expected to open new avenues for jobs this year. This is a news of hope for the employees affected by layoffs in different sectors.
There will be more demand for these skills
Due to the emphasis on digitalization and technical things at present, there is going to be a huge demand for high skilled labor work in the technology sector. According to the report, the demand for workers with technical skills like AI, ML and cloud computing will be high this year.
