salary hike, the jackpot for Indian employees.. Companies that provide salary wise! – wtw report says Indian companies are planning to provide 10 percent median salary hike for employees

Indian companies will give their employees an average salary hike of 10% by 2023, according to a report published by the international company WTW. The report says that Indian employees will get an average salary hike of 10% by 2023 due to competition among employees, inflation etc.

In particular, the report says that companies belonging to sectors like banking, financial services, technology, media, and gaming will offer higher salary increases. WTW has conducted an investigation and published a report.

According to this, Indian companies are budgeting to give their employees a 10% salary hike by 2023. This means that on an average each employee’s salary will increase by around 9.8%. Notably, salaries will increase by an average of 9.5% in 2022.

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According to this report, 58% of Indian companies are planning to give their employees more salary hikes. About 24.4% of the companies are yet to take any decision on salary hike. 5.4% of companies have reduced salary budgets over 2022.

Also, the report also states that Indian companies have decided to give the highest salary hikes in the Asia-Pacific region. After India, Chinese companies are planning to give 6% salary hike, Hong Kong companies 4% and Singapore companies 4%.

Sector-wise, financial services, banking, technology, media and gaming have decided to pay 10% more, the report said.