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India Inc’s salary rise max in Asia Pacific

Willis Towers Watson’s Survey – Q3 2019 Salary Budget Planning Report – has estimated that salaries in India are projected to rise 10% in 2020, marginally higher than the actual increase (9.9%) in 2019. The leading global advisory also stated that though salary increases in India are stabilising at around the 10% mark, they remain the highest in the Asia Pacific region. The corresponding figures for other regions are: Indonesia is projected at 8%, China at 6.5%, Philippines at 6%, Hong Kong and Singapore both at 4% respectively. 

“Though salary increases in India still continue to be among the highest in the region, companies are taking a cautious approach and do not intend to make any significant changes from previous years. Companies are beginning to make selective skill-based compensation adjustments to cater to requirements around automation and digitisation,” Rajul Mathur, Consulting Leader – Talent & Rewards, Willis Towers Watson opined.