Average salary hike in India likely to be 8-11% this year: Randstad India
- IBEF
- April 8, 2024
According to insights from Randstad India, corporate salary increments in India are projected to range from 8-11% this year, with junior professionals expected to receive the highest increases of 10-11%. This shift reflects a growing trend towards skill-based compensation, allowing professionals with specialized expertise to negotiate salaries more flexibly.
Companies are increasingly focusing on hiring and upskilling freshers and junior-level candidates to meet organizational needs, yielding positive outcomes across industries. Conversely, senior professionals may see lower salary hikes, averaging 8-9%, while medium-level professionals can expect around 9-10% increments. Sectors like internet/e-commerce, manufacturing, and BFSI are likely to offer the highest increments, driven by factors such as value-added models in e-commerce and technological advancements in manufacturing.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
Partners
