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Indian companies likely to increase salaries

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Staff writer ▼ | April 14, 2014
Indian companies are likely to increased an average salary by 10.3 percent in pharmacutical, health care and life sciences projected to get 12.4 percent raise, according to Deloitte India.
India company
India companyIndian companies are likely to increased an average salary by 10.3 percent in pharmacutical, health care and life sciences projected to get 12.4 percent raise, according to Deloitte India.


The overall average increment is 0.3 percent points lower than the previous fiscal (10.6 percent), because of slow economic growth and lower attrition. The findings are part of a survey conducted by Deloitte India.

Companies in pharmaceutical, healthcare and life sciences are expected to dole out an average raise of 12.4 percent, highest across sectors in 2014-15. It is marginally lower compared to 12.6 percent in the previous fiscal.

Given the overall mood of the economy, the retail sector will maintain a conservative estimate and is likely to offer the lowest average increment at 9.1 percent, the survey said.

"Average annual increment percentages have reduced marginally across levels. The reduction is highest at the middle management levels," it added.

Meanwhile, as per the survey findings the average voluntary attrition rate across sectors in the 2013-14 fiscal had been 13.4 percent, 0.8 percent points lower than the previous fiscal 2012—2013.


 

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