Salaries in India may rise by 10.4% in 2023: Survey

September 26, 2022 14:59

Corporate India is bullish about its strong business performance and expected to dole out a double-digit salary hike of as much as 10.4 per cent in 2023, a survey said on Monday.

According to leading global professional services firm Aon Plc's latest Salary Increase Survey in India, remunerations in India are expected to increase by 10.4 per cent in 2023, compared to an actual increase of 10.6 per cent to date in 2022, which is slightly higher than the 9.9 per cent increase projected in February.

The study that analysed data across 1,300 companies from more than 40 industries in India noted that the attrition rate for the first half of 2022 continued to be high at 20.3 per cent, marginally lower than the 21 per cent recorded in 2021, thus retaining the pressure on salaries. This trend is expected to continue for the next few months, the survey noted.

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