Employee Salary Hike: Important news for the employees. In fact, according to a latest update, it is being said that there is a possibility of 10% increase in the salary of the employees. Along with this, there will be an increase in their salary.
There is big news for the employees. His salary is expected to increase by 10%. In fact, in 2023, the average salary in India is expected to increase by 10.2%. An actual growth of 10.4% was observed in FY 2022 while a growth forecast of 10% has been predicted this year. Although it is slightly less than the previous financial year. Despite this, relief is being expected from the estimated salary increase in the salary of its employees.
Prior estimate of 10.2% increase in salary of employees
In fact, in the financial year 2023, a 10.2% increase in the salary of private sector employees has been predicted. According to a report, the projected growth for 2023 is less than the annual growth for 2022 at all jobs level. A smaller reduction in compensation is also expected in 2023.
3 Sectors with Highest Expected Salary Hike Related to Technology-
The 3 sectors with the highest projected salary increase are related to technology. According to a survey titled “Future of Pay”, e-commerce is expected to see the highest salary increase of 12.5%. At the same time, an increase of 11.9% in professional services and 10.8% in information technology has also been predicted.
Average variable pay as a percentage of total compensation was pegged at 15.6 percent in 2022, compared to 14 percent in 2021. The highest overall variable pay percentage of 25.5% across financial institutions is indicative of a greater emphasis on performance-based incentives. The total mountain payouts of the telecom industry are grossly undervalued in comparison to the sectors.
Renewable energy including e-commerce, digital services, healthcare, telecommunications and educational services were rated as the most promising emerging sectors for jobs in India in 2023. Apart from this, financial technology including retail and logistics has also been included in this. There is also a possibility of extensive recruitment in these areas.
