Economics
Indians May See Better Pay Hikes in 2021 Than Last Year: Survey
- Salary may rise an average 7.3% in 2021 vs 6.1% in 2020
- Bumper rains, tax mop up and stimulus to aid companies
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Indian employees are likely to witness their monthly paycheck getting a bigger boost next year compared to 2020 as companies are betting on higher consumer demand due to enhanced government spending and bumper rainfall to neutralize the pandemic-led economic contraction, a survey showed.
Companies, spanning sectors including e-commerce, energy, financial institutions and pharmaceuticals, are projected to increase compensation by an average 7.3% in 2021 compared to 6.1% -- lowest since 2009 -- this year, Aon said in the survey released Wednesday. Around 87% companies are planning pay hikes compared to 71% in 2020.