By - { 05/03/10 }

India Inc – Hewitt Salary Increase study – Double Digit hikes in 2010

The Indian salary increase study from Hewitt Associates for 2010, looks very promising. India Inc companies salaries are expected to grow on double digit numbers with 10.6% when compared to its just 6.6% in 2009. This will be 60% year on year growth and one of the highest increase in Asia Pacific, Hewitt says.

Some of the key takeaways from the Hewitt study are:

  • Indian owned companies are expected to outperform than MNCs
  • Technology and outsourcing sectors will still remain in less than 10% increase where as sectors like energy, telecom are hiking with double digit figures
  • The variable pay in the total salary will still play a major role in the pay package
  • Banking and financial services have already seen a huge recovery and forecasting 10.5% increase in 2010

Indian Salary Hike/Increase Projections 2010. Source: Hewitt

IT and outsourcing sector has been hit by US economic slowdown and was not seeing real hikes in 2009. It was just getting a mere 2.9% in 2009 and there was also lot of attrition going around. Now, companies realised the growth and want to make use of the opportunities by retaining their employees in 2010.

Salary Increase Projections % by Industries. Source: Hewitt

Even though these numbers give us lot of sigh and confidence, it also leaves us with a big question.

Will these figures in the chart turn into reality?  Does all companies consider hikes in 2010?
Categories: corporates
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    As per Hewitt’s annual Salary Increase Survey 2009-10, the double-digit hike in salaries are anticipated for this year led by sectors like telecom, engineering, pharma and energy.

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