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India: Salaries to rise 10 percent
Posted on: 16/Nov/2016 2:32:14 PM
A study has revealed that salaries are expected to rise by 10 per cent in 2017. According to the 2016 Report released by Willis Towers Watson, salaries in India are projected to rise 10 per cent in 2017, same as the actual increase in 2016.
When compared to developed and key emerging markets in the region, India`s 2017 projected salary rise is the highest. Indonesia at 9 per cent, Sri Lanka at 8.9 per cent, China at 7 per cent and Philippines at 6.4 per cent are the other countries that make up the top five in this group.
The report indicates that in India, 38 per cent of the budget for salary increase goes to top performers. Another 34 per cent is shared by above-average performers while the remaining 28 per cent goes to average performers.
Salaries in developed markets such as the US and UK are projected to increase around 3 per cent.
The pharmaceutical sector continues to project higher salary increases as compared to most other sectors while the financial sector will likely remain well below average at 8.5 per cent.
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