The salaries in India are expected to hike by an average of 6.4% in 2021 according to Willis Towers Watson survey.
“As companies in India respond to the economic implications of the Covid-19 crisis, there is an increased optimism on business recovery, but it is yet to translate into the salary increment budget,” said Rajul Mathur, consulting head, Willis Towers Watson India.
Of all the companies included in the survey, 37% of the companies have shown a positive business revenue outlook for the next 12 months, up from 18% in Q3 of 2020.
Tech companies, Pharmaceuticals, and consumer products, and retail projects have an estimate of a median salary increase of nearly 8%, financial services and manufacturing sector at 7%, while the BPO sector at 6%, and energy sector of 4.6%.