Future of Pay: This time maximum increment is expected to be seen in E-commerce, Professional Services and Information Technology Sector (IT Sector).
Salary Increment: If you are employed and work in a private company, then this news will make you happy. The month of March is about to end and from April 1, you will be implemented with increment. However, many companies will announce this after a few days and pay the increased salary to their employees along with the arrears. Meanwhile, the salary of employees working in the private sector can increase by an average of 10.2 percent in 2023.
Average salary increase expected to be 10.2%
This time maximum increment is expected to be seen in e-commerce, professional services and information technology sector. This has come out from a report. In the report ‘Future of Pay’ 2023 by professional services provider EY, it was said that in 2023, the salary in the country could increase by an average of 10.2 percent. This is lower than the average of 10.4 percent in 2022. But despite this it is in double digits.
There is a possibility of less increment than in 2022
It was said in the report that this year the estimated increase in salary will be seen in all sectors, which will be marginally less than in 2022. However, in the case of workers working in factories, the increment this year is likely to be less than in 2022. According to the report, the sectors where salary hike is expected the most are all related to technology.
It was told that the maximum increment of 12.5 percent is expected in the e-commerce sector. After that, there is a possibility of 11.9 percent growth in professional services and 10.8 percent in IT sector. EY’s report is based on the survey. This survey was done between December 2022 and February 2023. In this, 150 chief human resource officers from medium to large organizations in the country participated.
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