ROOPANK CHAUDHARY
India Inc to give 9.1% pay hike in 2027, almost similar to 2026: Aon
In 2027, employees across India Inc are projected to enjoy a salary boost of 9.1%, as reported by Aon Plc. However, the attrition rate has surged to 18% in 2026, a significant rise from previous years. Non-banking financial firms are anticipated to lead the charge with a 10.1% wage increase.
Planning a job switch? These sectors may see the biggest salary hikes in 2027
Salaries in India are projected to increase by 9.1% in 2027 after a 9% rise in 2026. Non-banking financial companies are expected to lead in salary growth with an increase of 10.1%. Employers face challenges in retaining talent amid rising attrition rates and the implementation of the Wage Code. AI skill demand is growing as companies adopt AI productivity tools at a significant pace.
IIT, IIM paychecks hit pause as median campus salaries stay flat for Class of 2027
IIT graduates from the Class of 2027 are expected to see median compensation remain flat at Rs 16.46 lakh per annum, while top IIM packages are projected to hold at Rs 26 lakh, according to Aon’s Campus Study Report. Tier-1 engineering and management colleges, however, are expected to see increases as employers become more selective and focus on skills and job readiness.
AI is pushing India campus hiring towards skills and job readiness
India’s campus hiring market remains resilient, but employers are becoming more selective, with demand concentrated in specialised skills, internships and job-ready graduates, according to Aon’s 2026-27 study. Hiring is expected to rise most for CA/CS graduates and interns, while campus pay is projected to increase modestly and internships remain a key route to full-time roles.
Pay hikes at India Inc likely higher this year; Average rise expected at 9.1% from 8.9% in 2025
Indian companies anticipate a 9.1% average pay hike in 2026, an increase from last year. Real estate and NBFC sectors are expected to offer the highest increments. Attrition rates have slowed to a five-year low. Companies are investing in critical talent and building sustainable compensation strategies. New Labour Codes are being assessed for their impact on pay structures.
India Inc pay hikes seen at 9.1% in 2026: Aon
India Inc employees can expect average pay hikes of 9.1% in 2026, up from 8.9% in 2025, with real estate and NBFCs leading at around 10%. Attrition levels have also declined to a five-year low of 16.2% in 2025, reflecting more targeted hiring and employee engagement efforts.
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India Inc to give 9% salary increment in 2026: Aon Study
Indian companies are projected to offer an average salary hike of 9% in 2026, a slight increase from the 8.9% actual raise in 2025. Despite global economic slowdown and geopolitical challenges, India's economy remains resilient, with sectors like real estate and NBFCs leading talent investment. Attrition rates have also seen a decline.
AI & global uncertainty stand in the way of your big salary hike
India Inc is expected to offer an average salary hike of 9.2% in 2025, slightly lower than last year’s 9.3%, as companies adopt a cautious approach amid global geopolitical and economic challenges and AI advancements, according to Aon.
India Inc employees likely to get salary hikes of 9.2% in 2025: Aon study
India Inc's salary increases are expected to average 9.2% in 2025, nearly the same as last year's 9.3%. Companies are taking a cautious approach due to global challenges, AI advancements, and US trade policies. Attrition levels are projected to decline to 17.7%. Different industries are considering various increments, with some planning to give at least 10% hikes.
Salary growth premium for digital talent cools amid market saturation, expanded talent access
Aon's research revealed that the salary increment premium for digital talent has declined from 1.48x in FY22 to 1.28x in FY24, with further moderation expected in FY25. This decline is due to market saturation and expanded talent access. Digital talent now constitutes 24.6% of the workforce, with salary growth premiums stabilizing amidst broader economic uncertainties.
India Inc to offer 9.5% salary hike in FY25, projects survey
India is expected to see an average salary increase of 9.5% in 2024-25, slightly up from 9.3% in 2024. The engineering and manufacturing, retail, and financial sectors are leading with projected increases of 10% and 9.9%. The survey analyzed data from 1,176 companies across over 40 industries.
Salary hikes likely to remain flat this year
Engineering firms and non-banking financing companies (NBFCs) are likely to give hikes of over 10%, according to Aon. This set is followed by automobiles, financial institutions, fast-moving consumer goods (FMCG), tech platforms & products, professional services and global capability centres (GCCs), where increases are seen in the 9.5-9.9% range. Key sectors that see increases slowing include ecommerce (to 9.2% from 9.6%), retail (8.4% from 9.2%), startups (8.5% from 9%), and tech consulting & services (8.2% to 9.1%).
India Inc likely to give 9.5% average pay hike in 2024: Aon
This year’s pay hike would be slightly lower than 2023's 9.7% amid tepid sentiment in sectors like tech consulting and services, ecommerce, retail.
Sharper differentiation for key talent amid drive towards a high performance culture
A recent survey by Deloitte showed that attrition for India Inc. dropped to 17% in 2023 compared with 19.7% in 2022. However, key talent attrition continues to be between 1.5-1.7 times of overall attrition, indicating that there are enough opportunities even in a tighter job market.
Double digit salary hikes for India Inc employees in 2023
Executives are likely to get an average of 10.3% salary hikes this year, a tad lower than an actual increase of 10.6% in 2022, according to the survey. While the attrition rate on an average in 2022 across 1400 companies surveyed by Aon in India is 21.4%, the highest ever since 2009.
Need STEM talent desperately, just not at technology firms
With the evolving economic context and increasing need for businesses to innovate and leverage technology to sustain market leadership, STEM talent has a pivotal role to play, said Pavitra Singh, CHRO, PepsiCo India.
Financial services battle flight of talent to lucrative sectors
The Aon analysis also showed that overall attrition in the banking segment is 24.7% between January and September, with domestic banks showing 30.6% attrition and foreign banks 16.3%. Fintech players also contributed to high attrition levels of 27.4%. Wealth management players, too, saw a significantly high number of employee departures at 26.4%, while investment banks saw exits at 21.8%. The lowest exits in the BFSI space were recorded with asset management companies at 16.3%.
India Inc to give double-digit salary hikes in 2023, survey shows
Pay hikes on an average in India are likely to increase by 10.4% in 2023, compared to an actual increase of 10.6% to date in 2022, which is slightly higher than the 9.9% increase projected in February, according to a survey by Aon plc, a global professional services firm. Aon has released insights from its latest Salary Increase Survey in India which analysed data across 1,300 companies from over 40 industries in India.
It’s an all-out talent war at new-age tech startups
Attracting and retaining talent has become a significant challenge, especially in the last two quarters as about 100 new-age companies are facing as high as 40% rejection rate by candidates.
Salaries in India expected to increase 9.9% in 2022, highest in five years: Aon Survey
According to the survey, which analysed data across 1,500 companies from more than 40 industries, this is the highest hike in the last five years. The industries with the highest projected salary increases are e-commerce, venture capital, hi-tech/IT, IT-enabled services (ITeS) and Life Sciences.
Pay hikes may return to pre-Covid levels this fiscal
Average pay hikes are likely to increase to 9.4% in 2021-22 from 8.8% in the previous year, it found, while startup employees are in for a bonanza as the average hikes of 16.9% are likely to be the highest among sectors.
Average salary hikes in India may hit pre-pandemic levels for FY2022
The actual pay hikes given by 1350 companies in FY 2021 is 8.8%. But now given the buoyancy, swift recovery, pent up demand and aggressive vaccination drive, companies are likely to come back to pre-pandemic pay hikes, according to Roopank Chaudhary, partner in Aon’s human capital business.
Survey finds vaccination may not be ‘must’ to return to office
Only 33% of companies are taking vaccination as one of the requisites for resuming offices, according to the survey by professional services firm Aon shared exclusively with ET.
Pandemic or not, work from home is set to become the norm
Tata Consultancy Services, TVS Motor, HCL Technologies, Kimberly Clark and many other companies are considering a hybrid or a predominantly WFH model in the long run. This trend has also been captured in a survey, one of the largest such, conducted by professional services firm Aon, covering about 30 lakh employees in 248 companies.
CEOs and CXOs in India to get 6% pay hike in 2021: Aon survey
As per the median projection, CEOs are likely to draw a compensation, a mix of fixed and variable, of ₹4.36 crore compared with ₹3 crore in 2018-19 for businesses with turnover of ₹10,000 crore.
Aon survey projects average pay hike of 7.7% in 2021
According to the survey, more than 1,000 companies out of 1,200 companies surveyed in India are likely to hand out salary hikes this year even as companies recover from the pandemic shock. Despite a tough 2020 with stringent lockdowns, India continues to project the highest salary increases among the BRIC nations.
Eight in 10 Indian companies not currently considering permanent staff layoffs or redundancies: Korn Ferry survey
Given the government’s extensive requests on avoiding laying off employees, the majority of companies have not implemented or are not currently considering permanent staff layoff/redundancies (84%) or temporary layoff/furlough (83% without government subsidy support and 91% leveraging government subsidy).
Average increment rate pegged at 9.2% in 2020: Korn Ferry
Increment rates have been slowing down over the last decade or so, said Chaudhary, showing the impact of business performance on payouts as well as the growing consciousness of organisations around P&L margins and budgets.
Salaries in India likely to rise by 9.2 pc in 2020; inflation-adjusted real-wage at 5 pc: Report
India's salary growth for 2020 stood at 9.2%, while real-wage may stay constant at 5% in 2020, as per a report.
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