An average increase of 9.3 per cent in the salaries of employees predicted this year: Report

New Delhi| Amid a positive business scenario in various sectors of the economy, the average salary of employees in the country may increase by 9.5 percent in the next calendar year i.e. 2025. At the same time, the average wage increase in the current calendar year could be 9.3 per cent. According to a survey by global professional services firm Aon plc, engineering, manufacturing and retail industries could see a 10 per cent wage increase.

After this, the salaries of employees in financial institutions could increase by an average of 9.9 per cent. Although 2024 started with a cautious approach to the technology sector, staff at global capacity centres and technology products and forums could receive pay increases of 9.9 per cent and 9.3 per cent respectively.

Rupank Chaudhary, partner at AON, said, despite global challenges, our study reflects the positive business scenario in India. This perception continues in many sectors moving on the strength of the local market. This is evident from the estimated wage growth in manufacturing and retail industries.

According to the report, an average of 16.9 per cent of employees quit this year. The ratio was 18.7 per cent in 2023 and 21.4 per cent in 2022. Tarun Sharma, Co-Director (Talent Solutions), AON, said the slowdown in attrition rates provides a unique opportunity for companies to focus on internal growth, capacity building and enhancing long-term productivity.