Half of Indian firms may offer double-digit salary hikes in 2023

Pay expected to increase 10.3% on average in 2023: Aon survey

India Inc will continue to record double-digit salary hikes, with pay expected to increase 10.3 per cent in 2023. 

According to global professional services company Aon Hewitt Global’s latest Salary Increase Survey, while the numbers show a marginal dip from the actual increase of 10.6 per cent in 2022, India is the only major economy where the projected increase continues to be in double digits, notwithstanding concern about economic volatility.

Of the 1,400 companies surveyed across 40 industries, 46 per cent of organisations are expected to hand out double-digit salary increases in 2023.

Last year, salaries saw a higher-than-normal increase at 10.6 per