India Inc employees are likely to be rewarded with an average salary increment of 9.7% this year. Top performers however can expect a salary hike of 15.6%, which is a marginal hike in comparison to last year.
Aon, a human resource consultancy firm, in its annual salary survey forecasts an average salary increment of 9.7% this year as against 9.5% in 2018 across different industries. Due to expectations of robust economic growth, low inflation and high domestic demand, companies' sentiment of the overall economic outlook is positive.
Also, the gap in salary hike between an average performer and top performing employee this year has widened to 1.9 times, wherein the top performer is projected to receive an average salary increment of 15.6%.
Nonetheless, the rate of growth in salary hike was slow in 2017 at 9.3% due to the impact of demonetisation in November 2016 and GST implementation, which hurted the business sentiment.
As per the Aon's report, the five leading industries giving double-digit salary hike are consumer internet companies, professional services, life sciences, consumer products, automotive/vehicle manufacturing.