India Inc has reverted to the pre-pandemic level of salary hikes across industries, a survey released on Tuesday said. As compared to the 8 per cent average hikes in 2021, the salaries rose in the range of 9-9.5 per cent in 2022.
According to consulting firm Mercer's Total Remuneration Survey, the salary hikes in 2023 are also expected to be in the range of 9 to 9.5 per cent. The survey was conducted between May and November last year in 1,300 companies covering 6,065 jobs and over 1.7 million employees.
Mansee Singhal, senior principal and rewards consulting leader at Mercer, said, "The TRS overwhelmingly confirms that organizations across the board continue to revert to pre-pandemic salary increases, which range from