Showing early signs of business resurgence in India, companies are expected to give an average 11 per cent salary hike this fiscal as firms increase their strategic spending.
As per the survey conducted jointly by MyHiringClub.Com and FlikJobs.Com, as much as 92 per cent companies said that they would dole out increments for their employees in the current appraisal season, while another 90 per cent firms are also likely to give bonuses.The salary hike across industries would be of an average 11 per cent, while the average bonus will stand at 10 per cent, the survey revealed.
“Current appraisal season salaries and bonuses in India are expected in double digits. Increments have been conservative at 11 per cent and bonuses have been 10 per cent, attributable to the prevalent market sentiment,” MyHiringClub.Com CEO Rajesh Kumar said.The quantum of the increment to be doled out this year by companies largely fall in the range of 5 per cent to 10 per cent and the bonus would lie between 5-20 per cent of the annual compensation of the employees, according to the survey.