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.
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.
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.
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%.
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.
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.
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.
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.
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