India Inc is expected to dole out a salary increment of 9.5 per cent in the financial year 2024-25, compared with a pay increase of 9.3 per cent in 2024, according to the first phase of the Aon Annual Salary Increase and Turnover Survey 2024-25.

The survey, which analysed data across 1,176 companies from over 40 industries between July and August 2024, suggests a double-digit 10 per cent salary increases in engineering & manufacturing and retail industries, followed by financial institutions at 9.9 per cent.

Roopank Chaudhary, partner and head of reward solutions in India for Aon, said, “Despite evolving global economic challenges, our study indicates a positive business outlook across several sectors in India. This sentiment continues in many of the domestically driven sectors illustrated by the projected increments in the manufacturing, life sciences and retail industries.”

The sentiment is the technology sector looks optimistic.