This survey has been released on the basis of collecting data from 1,474 companies from May to August 2023. The survey found that salaries in India are expected to increase by 10% in 2024 after increasing by 9.5% in 2023.
Employees Salary Hike 2024: There is another latest on salary hike for lakhs of employees working in the private sector. Employees may see an increase of up to 10 percent in the year 2024. The maximum increase is likely to occur in the automobile, manufacturing and engineering sectors. This information has come out from Mercer’s Total Remuneration Survey (TRS) released on Tuesday. Earlier, Aon’s survey in February had estimated a 9.5% salary increase and Korn Ferry’s survey in January had estimated a 10% salary increase.
A look at TRS survey
According to Mercer’s Total Remuneration Survey (TRS), salaries increased by 9.5% in 2023, but the salaries of employees of companies in India are expected to increase by an average of 10% in the year 2024. This year, there may be a big hike in the salaries of employees of automobile, manufacturing, engineering and life sciences sectors in India. This survey has been released on the basis of collecting data from 1,474 companies from May to August 2023, in which more than 6,000 jobs rolls and included more than 21 lakh employees. The survey found that salaries in India are expected to increase by 10% in 2024 after increasing by 9.5% in 2023.
AON’s survey – 9.5 percent salary increase possible in 2024
According to the annual salary growth and turnover survey 2023-24 of global professional services company Aon PLC released last week, the salary of employees in India is expected to increase by 9.5 percent this year. This year, three out of four companies are expecting a salary increase of more than 9 percent in 2024. Will increase by. In this survey, data of 1,414 companies from about 45 industries has been analyzed.
According to the survey, the manufacturing sector is expected to grow by 10.1 percent, products companies by 9.5 percent and service companies by 8.2 percent. Even startups can pay better than older IT services firms. In the survey, compared to other Asian countries, the highest salary increase is expected in India, Bangladesh is second after India in salary increase.
