Indian companies project 10% average salary increase in 2024, with automobile, manufacturing, and engineering sectors experiencing the highest hikes.
Mercer's Total Remuneration Survey (TRS) reveals Indian companies are projected to provide an average 10% salary increase in 2024, following a 9.5% increase in 2023. Automobile, manufacturing, and engineering sectors will experience the highest hikes. The median merit salary increments in India are expected to reach 10% by 2024, and the voluntary attrition rate has increased from 12.1% in 2021 to 13.5% in 2022.
February 27, 2024
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