On an average, pay in India will increase by 9.8% in 2023.
Indian employees are set for Asia's biggest pay increases this year, with the top talent earning as much as 15–30% more, according to a survey by Korn Ferry.
On an average, pay in India will increase by 9.8% in 2023. High-tech industries, life sciences and healthcare lead the pack with jumps of more than 10%, it said.
The 9.8% rise for India compares with 3.5% in Australia, 5.5% in China, 3.6% in Hong Kong, 7% in Indonesia and 4.5% in South Korea.
While employees in major metropolitan centres still receive higher compensation, there is a pattern for firms to become "location agnostic" as hybrid and remote working becomes the norm, the survey found.