This report will cheer the employees who are waiting for the salary hike

There is a good news for most of the working class in India. Usually after the month of March, private companies take up the process of increment for their employees and the good performance report of the employees is prepared. So let's know how much the average salary hike is likely to be this year.

Slightly less than the actual increase at all job levels except for blue-collar workers

In the year 2023, the average salary increase in India is likely to be 10.2%, lower than the actual increase of 10.4% in FY 2021-22. Estimated salary increases for 2023 are slightly lower than actual increases for 2022 at all job levels except for blue-collar workers, the EY report found. In the case of blue-collar workers, compensation is slightly reduced in 2023.

In the top 3 technical sectors of the country, the salary can increase by such a percentage

The top 3 technical fields in the country with the highest projected salary increases belong to them. E-commerce is expected to grow the most at 12.5%, followed by business services at 11.9% and information technology i.e. IT at 10.8%. In the year 2022, the average salary increases in these three sectors were 14.2 percent, 13 percent, and 11.6 percent, respectively.