look news india
Employee Salary Hike 2024: There is good news for employees working in the private sector. Wage growth in India could be up to 9.5% next year, up from 9.3% in 2024. This information has come out from the '30th Annual Salary Growth and Trade Survey' of global professional services firm Aon PLC. This survey report has been prepared by analyzing data of 1,176 companies from 40 industries in July and August. In this, there is an expectation of 10 percent increase in salaries in engineering, manufacturing and retail industries and 9.9 percent increase in salaries in financial institutions, which is considered a good sign.
Know how much will be the salary increase in which sector?
According to the survey report, the total salary of employees is expected to increase by an average of 9.5 percent in the year 2025. Next year, there may be 10 percent growth in manufacturing and retail and 9.9 percent growth in financial companies. Employees at Global Competence Center and Technology Products and Platforms are expected to get salary hikes of 9.9 percent and 9.3 percent respectively. Apart from this, salary in technology counseling and service sector may increase by up to 8.1 percent.
accident rate will decrease
According to this report, the attrition rate will decline next year. This rate is estimated to be 21.4 percent in 2022, 18.7 percent in 2023 and now 16.9 percent in 2024. The second phase of this study will be published in early 2025, which will include data collected in December and January. The reason for the increase in salaries in India is the rapidly growing economy. The GDP growth rate in the financial year 2023-24 was 8.2 percent. It is estimated to be 7.2 percent in the financial year 2024-25.