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Average salary in India likely to rise by 10.2% in 2023: Report



The ‘Future of Pay’ 2023 report by professional services organisation EY has stated that the average salary in India is expected to increase by 10.2 per cent in 2023, mainly driven by e-commerce, professional services and information technology.  

It is marginally lower than 10.4 per cent in 2022, but still in double digits. The projected salary increases for the year 2023 are slightly lower than the actual increases for 2022 across all job levels, except for blue-collar workers who are projected to have a slightly larger decrease in compensation in 2023, it stated.

The top three sectors with the biggest projected salary increases are tied to technology, said the report. E-commerce has the highest projected salary growth at 12.5 per cent, followed by professional services at 11.9 percent and IT at 10.8 percent.