Aon, a leading global professional services firm, recently unveiled its 22nd edition of its annual Salary Increase Survey in India. The study, the largest and the most comprehensive of its kind in India, analysed data across 1000+ companies from more than 20 industries.
As per the survey, companies in India gave an average pay increase of 9.3% during 2017 marking a departure from the double digit increments given by organizations since the inception of this study. In the 20 sectors examined, the salary raise in the logistics and transportation sector, however, has been less than average at 9 percent. In the fast growing retail sector, the percentage hike stood at 9.5 percent. Employees in the professional services received the highest raise at 10.6 percent while in the cement, it was the lowest – 8.4 percent.
The overall projections for 2018 are also expected to be similar at 9.4% highlighting increasing prudence and maturity being displayed by companies while finalising pay budgets.