Salary Increases in 2020: Less Hype, More Hope
27 Jan 2021 by The Economic Times
After all the apprehensions around job losses and pay cuts, the average employee in India, still saw a real, inflation adjusted pay increase in 2020.For most employees in corporate India (for that matter anyone with a professional job or business), 2020 has been a harsh, brutal year where changing seasons or shifting patterns did little to swing the fortunes, at least till date when the economy has finally started to recover with sufficient tailwinds and heartening news of a ready vaccine. Not surprisingly, whispers and murmurs around salary increments have been hushed and expectations have been rock bottom. But for such a thing as compensation, interest levels will always remain high and it was some anticipation and more trepidation that India Inc waited for Aon’s 25th salary increase survey that covered more than 1,000 companies, to unfold, a couple of months back.