In 2024, there was a 9.3 percent wage increase in India Inc.
The survey suggested a double-digit increase of 10 percent in wages in the engineering and manufacturing and retail industries, followed by financial institutions at 9.9 percent.
India Inc is expected to increase wages by 9.5 percent in the 2024-2025 financial year, compared with a wage increase of 9.3 percent in 2024, according to the first phase of Aon’s annual wage growth and turnover survey for 2024. 25.
The study, which analyzed data at 1,176 companies in more than 40 industries between July and August 2024, suggests a double-digit 10 percent wage increase in engineering and manufacturing and retail, followed by financial institutions at 9.9 percent.
Roopank Chaudhary, Partner and Head of India Remuneration Solutions for Aon said, “Despite evolving global economic challenges, our survey shows a positive business outlook across several sectors in India. This sentiment continues across many of the domestic market-driven sectors, illustrated by forecast increases in manufacturing, life sciences and retail.”
Sentiment is that the technology sector looks upbeat.
