New Delhi, Oct 3
Salaries in India are projected to increase by 9.5 per cent in 2025, compared to an actual increase of 9.3 per cent this year, a report showed on Thursday.
The engineering and manufacturing and retail industries project double-digit increases at 10 per cent, closely followed by financial institutions at 9.9 per cent, indicating the strategic importance employers place on talent in these sectors in the current economic landscape, according to the report by Aon, a leading global professional services firm.
Global capability centres (GCCs) and technology products and platforms expect a more optimistic salary increase at 9.9 per cent and 9.3 per cent, respectively, while the technology consulting and services projected increments at a lower end of 8.1 per cent.
Looking at the attrition analysis, a downward trend is apparent with attrition reported at 16.9 per cent on average this year, compared to 18.7 per cent reported in 2023 and 21.4 percent in 2022.
“Despite evolving global economic challenges, the study indicates a positive business outlook across several sectors in India. This sentiment continues in many of the domestically driven sectors illustrated by the projected increments in the manufacturing, life sciences and retail industries,” said Roopank Chaudhary, partner and head of reward solutions in India for Aon.
The study, the largest and most comprehensive rewards survey in the country, analysed data across 1,176 companies from over 40 industries between July and August.