The 10 Indian industries where salary hike will be highest in 2019
Aon Salary Increase Survey 2019: The average salary hike across different industries in India could be around 9.7% this year, which is 0.2% more than the last year's projection of 9.5%
Aon Salary Increase Survey 2019: The average salary hike across different industries in India could be around 9.7% this year, which is 0.2% more than the last year's projection of 9.5%, says Aon Salary Increase Survey 2019. The report of the survey was released early this month. The survey analysed data across over 1000 companies from over 20 industries. "As per the results of the survey, companies in India gave an average pay increase of 9.5% during 2018, reflecting improved business sentiment compared to 2017," the survey report said.
"The projections for 2019 are stable yet favourable at 9.7% as companies expect a positive economic outlook backed by high economic growth expectation, high domestic demand and low inflation. A decline in voluntary attrition and controlled incremental hiring continue to keep the sentiment mild," it added.
The salary increase survey also projected the industries where salary hikes would be highest this year. These are:
1. Consumer internet companies: 11.1%
2. Professional services: 11.1%
3. Automotive: 10.1%
4. Consumer products: 10.1%
5. Life sciences: 10.1%
*Source: Aon salary increase survey
6. Hi-Tech: 9.9%
7. ITeS, Retail, Chemicals: 9.8%
8. Engineering manufacturing
9. Entertainment/communication: 9.5%
10. Hospitality/restaurants: 9.5%
Commenting on the salary increase survey report, Anandorup Ghose, Partner and Head Emerging Markets, said, “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.”
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