According to HR consulting company Aon Hewitt’s annual salary increase survey, employees in India are expected to get an average salary increment of 11.9% this year (2012), compared with a 12.6% hike in 2011.
Organisations across sectors are expected to pay double digit salary increments, ranging 10% to 13.3%.
Mr. Sandeep Chaudhary, practice leader, compensation consulting, Aon Hewitt said, “In 2011, stubbornly high inflation, high interest rates, a slowing global economy and policy paralysis hit economic growth in India. However, in recent weeks, we are seeing encouraging signs on business sentiments. While organisations across industries are keeping a keen eye on the oscillating macro-economic environment, the number reiterates that they are taking a long-term view on talent”
The projected average increase of 11.9% in India is also the highest in the Asia Pacific region, followed by China at 9.5% & the Philippines at 6.9%.
Among the sectors, pharmaceuticals & engineering design/services are expected to lead the pack, with an annual average salary increase of 13.3% & 13% respectively. Other sectors that are likely to offer increments above the industry average include infrastructure (12.9%), chemicals (12.6%), engineering/manufacturing (12.4%), fast moving consumer goods and fast moving consumer durables (12.4%) and automotive/vehicle manufacturing (12.4%).
Information technology (IT) is expected to offer the industry average, with ITeS closely behind at 11.8%. Telecom & financial institutions are projecting the lowest salary increases, with 11% & 10% respectively.
Organisations across sectors are expected to pay double digit salary increments, ranging 10% to 13.3%.
Mr. Sandeep Chaudhary, practice leader, compensation consulting, Aon Hewitt said, “In 2011, stubbornly high inflation, high interest rates, a slowing global economy and policy paralysis hit economic growth in India. However, in recent weeks, we are seeing encouraging signs on business sentiments. While organisations across industries are keeping a keen eye on the oscillating macro-economic environment, the number reiterates that they are taking a long-term view on talent”
The projected average increase of 11.9% in India is also the highest in the Asia Pacific region, followed by China at 9.5% & the Philippines at 6.9%.
Among the sectors, pharmaceuticals & engineering design/services are expected to lead the pack, with an annual average salary increase of 13.3% & 13% respectively. Other sectors that are likely to offer increments above the industry average include infrastructure (12.9%), chemicals (12.6%), engineering/manufacturing (12.4%), fast moving consumer goods and fast moving consumer durables (12.4%) and automotive/vehicle manufacturing (12.4%).
Information technology (IT) is expected to offer the industry average, with ITeS closely behind at 11.8%. Telecom & financial institutions are projecting the lowest salary increases, with 11% & 10% respectively.
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