India: Salaries to rise 10 percent
Study has revealed that salaries are expected to rise by 10 percent in 2017. As per the 2016 Report released by Willis Towers Watson, salaries in India are said to rise 10 percent in 2017 same as actual increase in 2016.
When compared to developed and key emerging markets in region. India’s 2017 projected salary rise in highest. Indonesia at 9 percent, Sir Lanka at 8.9 percent, China at 7 per cent and Philippines at 6.4 per cent are the other countries that make up the top five in this group.
Report indicates that India, 38 percent of budget for salary increase goes to top performers. Another 34 percent is said to be shared by above average performers and the remaining 28 percent goes to average performers.
Salaries in developed markets such as the US and UK are projected to increase around 3 per cent.
The pharmaceutical sector continues to project higher salary increases as compared to most other sectors while the financial sector will likely remain well below average at 8.5 per cent.