New Delhi: Employees are expected to see an average 10 per cent increase in salary in 2017, lower than 10.3 per cent rise this year, and after taking inflation into account, the hike would be a paltry 4.8 per cent, says a report. According to Korn Ferry Hay Group 2017 Salary Forecast, India salary growth is pegged at 10 per cent, while real wages are expected to rise by 4.8 per cent.
“Salary hikes in India, although still higher than many other countries across the globe, have stabilised and we expect them to be in the 9.5-10.5 per cent range in the next couple of years,” Amer Haleem, country manager, productised services, Korn Ferry Hay Group said.
Mr Haleem further noted, “We expect them to at the higher end of the range for entry level positions, given that our salaries are much lower at that level compared to most countries, even those within Asia”. In Asia, salaries are forecast to increase by 6.1 per cent, down 0.3 per cent from last year.
