The Future of Pay 2024' report states that the highest salary hikes are expected in e-commerce (10.9 per cent), financial services (10.1 per cent), and 10 per cent each in professional services and real estate.
The expected hike will be lower than the 10.4 per cent seen in 2022. In 2023, the highest salary hikes were seen in e-commerce (10.5 per cent), and 10.4 per cent both in auto/vehicle manufacturing and financial services.
The report highlighted that the fall in the quantum of salary hikes compared to 2022 was majorly due to the e-commerce sector and technology sub-sectors.
"In 2022, certain technology sub-sectors, like cloud platforms and consumer technology, experienced notable growth. However, there is a projected decrease across all technology subsectors by 2024, potentially due to market saturation following rapid digital transformation in previous years," it said.
This story is from the March 07, 2024 edition of Business Standard.
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This story is from the March 07, 2024 edition of Business Standard.
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