India Inc to offer 9% pay hike in 2022: Report

India Inc to offer 9% pay hike in 2022: report

(PTI) : Employees of India Inc may be in for a pleasant surprise as prices climb, as many companies plan to offer salary increases that exceed pre-pandemic levels at a time when there is a severe skills shortage and the economy is picking up.

According to a survey by recruiting agency Michael Page India, which covered more than 500 large, medium, and small companies across 13 main industry sectors, the average salary increase this year will be 9%, up from 7% in the pre-pandemic year of 2019.

Also Read: 41% Indian workers left jobs last year: Report

According to the Michael Page India Salary Report 2022, startups and new-age enterprises, including unicorns and soonicorns, are likely to steal the show with an average predicted salary hike of 12 percent.

According to the research, growth areas include banking and financial services, real estate and construction, and manufacturing.

According to the report, due to the growth of e-commerce and other sectors experiencing digital transformation, senior-level professionals with computer science degrees will be in a strong position to bargain for some of the top paying jobs in India, according to the report.

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July 2022 Issue

Building Better Work Culture -July 2022
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