Indian companies challenge 7.7% pay hike this yr: Survey

New Delhi, February 23

India Inc is likely to provide a salary hike of 7.7% in 2021, indicating a strong economic recovery, said a survey on Tuesday. The study by global professional services firm Aon analysed data across 1,200 companies from more than 20 industries.

About 88% of the surveyed companies reported that they intend to increase salaries in 2021, reflecting positive business sentiment.

“We expect the increment dynamics for 2021 to play out over a longer period of time given the uncertainty and potential impact of forthcoming changes,” Nitin Sethi, Partner and CEO of Aon’s performance and rewards business in India, said in a statement.

Despite a tough 2020 with stringent lockdowns, India continues to project the highest salary increases among the BRIC (Brazil, Russia, India, China,) nations, said the report. — IANS

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