Good news: This year, in India, on average 7.3 percent salary may increase, 92 percent companies said to increase salary
Companies could raise salaries by an average of 7.3 per cent this year due to faster-than-expected improvement in business activity after the epidemic and increased consumer confidence. A 2021 Phase 1 survey conducted by Deloitte Touch Tohmatsu India LLP for Workforce and Wage Growth Trends found that the average pay rise this year will be more than 4.4 per cent in 2020, but less than 6.6 per cent in 2019.
More than 4.4 percent of 2020
Ninety-two percent of companies surveyed this year talked about a pay rise, compared to only 60 percent last year. The survey, which began in December 2020 and involved about 400 companies in seven sectors and 25 sub-sectors, said the average wage growth rate in India is expected to be 720 per cent, up from 4.4 per cent in 2020. Twenty percent of companies plan to raise double-digit salaries Companies have increased their budgets for wage increases due to the expected improvement in economic activity, consumer confidence and better margins. According to the Nazis, 20 percent of companies plan to raise double-digit salaries this year, up from 12 percent in 2020. According to the survey, a third of the companies that did not raise their salaries last year are preparing to increase this year in the form of increments or bonuses.
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