According to a survey, corporate employees based out of India can expect an average salary increment of 9.7 per cent in 2019, while top performing employees can see their wages rise by as much as 15.6 per cent, reports Business Standard (BS).
However, the average salary hike of 9.7 for the current year is only a marginal increase over last year’s (2018) 9.5 per cent estimate. The hike was predicted to be 9.3 per cent in 2017. The survey noted that positive economic outlook, backed by high economic growth expectation, high domestic demand, and low inflation, was responsible for the positive salary increment.
Human resources consulting firm Aon published the report titled ‘Salary Increase Survey’. Over 1,000 companies across 20-plus industries participated in the exercise.
“Pay increases are marginally positive, compared to earlier years. A big highlight is the reducing difference in pay increases across industries year-on-year. A lot of the pay increase decline is also reflected in the constant drop in voluntary attrition levels across industries,” said Anandorup Ghose, partner and head, emerging markets, Aon.
Double-Digit Salary Percentage Hikes For IT Professionals
In a different report, NASSCOM had stated that salary increment for 2019 could be between 8-10 per cent across the IT industry. It added that talent in niche technologies might get almost double the increments of an average performer.
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