Salary hikes in India likely flat in 2027, reports say
Looks like salary hikes in India are set to stay pretty flat in 2027.
Companies are feeling the pinch from higher costs and a slow job market, with inflation at a two-year high and oil prices up because of the West Asia conflict.
So, most firms are playing it safe with pay raises, say reports from Deloitte and WTW.
Indian banks to see smaller raises
RBI's rate increase and shifting employee turnover trends aren't making things any easier.
Banking jobs may see smaller raises, dropping to around 6% to 7% next year from 8% to 9%. Nonbank financial companies might do a bit better, projecting a 10.1% hike.
Meanwhile, sectors like retail and tech are being extra careful with pay due to global market ups and downs.
With all this uncertainty, companies are focusing on keeping their best talent, especially workers skilled in hot areas like AI.