With lower hikes, MNCs in India to start 2025 on cautious note
Those running Global Capability Centres (GCCs) in the country are paying out the highest increments, though it will still be marginally lower than last year, showed data shared exclusively with ET by Deloitte India.
Average pay hikes will range about 8.8% across MNCs in India compared to actuals of 9% last year. Also, most of the around 100 companies surveyed have a slightly lower salary projection for the FY25 cycle, ranging at 0.1-1.1 percentage points less than FY24, based on the industry. “Pay increase projections are lower compared to FY24 and this is largely because businesses aren’t doing well across most sectors,” said Anandorup Ghose, partner at Deloitte India.
The technology sector presents a mixed bag. GCCs, a bright spot in an otherwise stagnant job market, are projecting the highest increases of about 9.1%, though this too saw a slight drop of 0.1 percentage point since last year. Ghose said this is because GCCs don’t see any real pressure in the current dull job market to pay bigger hikes, helping them control wage bills.
Other tech companies remain circumspect amid continued pressures of layoffs and subdued hiring plaguing the industry. IT product companies, traditionally among the top paymasters, are projecting a 9% increment, down from last year’s 10%, as they confront a variety of challenges including global uncertainties and market disruption due to new technologies.
Artificial Intelligence(AI)
Java Programming with ChatGPT: Learn using Generative AI
By — Metla Sudha Sekhar, IT Specialist and
