News: India Inc expected to offer average salary increments

Compensation & Benefits

India Inc expected to offer average salary increments

According to a survey conducted by Deloitte India, Human Capital Advisory Services (HCAS), part of global consultancy Deloitte, India Inc is expected to offer average salary increments of 11.3 per cent this fiscal and those working in sectors like pharmaceuticals, health care and life sciences are expected to get a raise of 13.1 per cent. The financial services sector could offer the most conservative increments at 9.6 per cent (for 2013-2014). On a year-on-year basis, however, there has been a decline in increment figures. In 2012 corporate India was expected to see overall increment of around 12 per cent.

According to a survey conducted by Deloitte India, Human Capital Advisory Services (HCAS), part of global consultancy Deloitte, India Inc is expected to offer average salary increments of 11.3 per cent this fiscal and those working in sectors like pharmaceuticals, health care and life sciences are expected to get a raise of 13.1 per cent. The financial services sector could offer the most conservative increments at 9.6 per cent (for 2013-2014). On a year-on-year basis, however, there has been a decline in increment figures. In 2012 corporate India was expected to see overall increment of around 12 per cent.

Meanwhile, the overall average attrition rate across industries is 14 per cent largely owing to better career opportunities and better pay. The highest attrition rates were recorded in the ITeS (17 per cent), advertising and media (16 per cent) and IT (15 per cent) sectors. These sectors are followed closely by pharmaceuticals (14 per cent) and the infrastructure & real estate sectors (14 per cent).

Source: The Economic Times
 

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Topics: Compensation & Benefits, #Updates, #TotalRewards

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