New Delhi: Indian companies are expected to give an average 11 percent salary hike this fiscal as firms increase their strategic spending, says a survey.
As per the survey conducted jointly by MyHiringClub.Com and FlikJobs.Com, as much as 92 percent companies said that they would dole out increments for their employees in the current appraisal season, while another 90 percent firms are also likely to give bonuses.
The salary hike across industries would be of an average 11 percent, while the average bonus will stand at 10 percent, the survey revealed.
"Current appraisal season salaries and bonuses in India are expected in double digits. Increments have been conservative at 11 percent and bonuses have been 10 percent, 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 percent to 10 percent and the bonus would lie between 5-20 percent of the annual compensation of the employees, according to the survey.
"The increment and bonus percentages has increased by 1-2 percent points across levels compared to last year, with maximum impact at top management level," Kumar added.
The survey covered 5,754 top executives of companies including CEOs, CFOs, head of finance and human resources as well as 22,300 employees.
"We witnessed early signs of resurgence in India, and this translated to improved strategic spending on employees - through salary increases, bonuses & incentives," Kumar said.
As per the findings, 32 percent employees surveyed are expecting hike and bonus of 5-10 percent, 25 percent are expecting it between 10-15 percent, 21 percent up to 5 percent and 12 percent between 15-20 percent hikes.
About 10 percent employees are not expecting any bonus and salary increase, the survey said.
Interestingly, a majority of the employees (86 percent) are expecting a promotion this year.
Region-wise, 91 percent firms in southern parts of the country are planning to give increment and bonus this year as compared to 89 percent in north, 87 percent in west and 85 percent in the east.
