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Korn Ferry’s India Compensation Survey shows that employees in India are likely to see a salary hike of 9.8% in 2023, which is the highest in Asia. 

India set to see highest salary hikes in Asia: Report  

Indians to receive better salary hikes in compare to its Asian counterparts 

Indians to receive better salary hikes than other Asian countries 

Korn Ferry&rsquo;s India Compensation Survey shows that employees in India are likely to see a salary hike of 9.8% in 2023, which is the highest in Asia.&nbsp;

According to the latest survey, Indian employees will likely receive a 9.8 per cent salary hike in 2023 &ndash; which is higher than its other Asian counterparts The news is even better for top talent which is likely to receive a 15 to 30 per cent pay hike, according to the Korn Ferry&rsquo;s latest India Compensation Survey.
<h3>Indian salary hike&nbsp;</h3>
&ldquo;Although recession and economic slowdown are being discussed across the globe, there is optimism about the Indian economy with a projected GDP growth of six per cent upwards,&rdquo; Navnit Singh, Chairman and Regional Managing Director, Korn Ferry said.
As per the survey, this comes as organisations in 2023 remain focussed on retaining critical and key talent through various talent management initiatives and formal retention and compensation plans. Industry wise, sciences &amp; healthcare and&nbsp; technology sectors will give higher hikes between 10.2 and 10.4 per cent.&nbsp;
The &nbsp;9.8 per cent salary hike expected for Indian employees is higher than Asian counterparts such as China (5.5 per cent), Vietnam (8 per cent), Thailand (5 per cent), Singapore (4 per cent), Philippines (5.5 per cent), Indonesia (7 per cent), Malaysia (5 per cent) and South Korea (4.5 per cent).

UK employees suffered their biggest hit this year, since the survey kicked off in 2000 

Indians to have better salary hike in 2023 than other countries

Looking forward to 2023? Here's the good news 

UK employees suffered their biggest hit this year, since the survey kicked off in 2000&nbsp;

While soaring inflation is set to put a major dent in salary increases for the second year running in 2023, Asian nations make up eight of the top 10 countries forecast to see real salaries rise, led by India, up 4.6%, Vietnam rising 4.0% and China up 3.8%.&nbsp;
The worst-hit region is likely to be Europe, where real salaries &mdash; nominal wage growth minus the rate of inflation &mdash; are seen being driven down an average 1.5%, according to workforce consultancy ECA International.&nbsp;
India's neighbours Pakistan and Sri Lanka are placed bottom in this list whereas Brazil&rsquo;s 3.4% increase and Saudi Arabia&rsquo;s 2.3% bump round out the top five.
In the United States, the real salaries drop of 4.5 per cent this year is set to be reversed by drop in inflation next year, leading to a 1 per cent real term salary hike.

Infosys has rewarded CEO Salil Parekh with a 88% pay hike, making his compensation soar from Rs 42 crore to Rs 79 crore as per the annual report filing. With almost 97% of the hike based on performance variable the annual filing goes into great detail to justify this gigantic jump. "Under Salil’s leadership 1 , the Company’s Total Shareholder Return (TSR) was an impressive 314%, the highest among peers The revenue growth of the Company under Salil’s leadership has accelerated and grown from `70,522 crore (fiscal 2018) to `1,21,641 crore (fiscal 2022), a CAGR of 15% (prior four years CAGR 9%) and the profits have also increased from `16,029 crore to `22,110 crore", the report said.Parekh has been the Chief Executive Officer and Managing Director of Infosys since Jan 2018 and took over a difficult time for the tech major. However a turnaround has been scripted and that is reflecting in the market bets over the last 5 years with its shares rallying 187 per cent, and its market value rising by nearly Rs 4 lakh crore.

Infosys CEO gets a mega hike, this is how much he makes after a 88% jump

Parekh has been the Chief Executive Officer and Managing Director of Infosys since Jan 2018 and took over a difficult time for the tech major. However a turnaround has been scripted and that is reflecting in the market bets over the last 5 years with its shares rallying 187 per cent, and its market value rising by nearly Rs 4 lakh crore.

Infosys CEO Salary Hike: Salil Parekh gets a big hike in compensation, jumps to Rs 79 crore year from Rs 42 crores

Almost 97% of the increase in the proposed annual remuneration is linked to performance.

Infosys&nbsp;has rewarded CEO&nbsp;Salil&nbsp;Parekh&nbsp;with a 88% pay hike, making his compensation soar from Rs 42 crore&nbsp;to Rs 79 crore as per the annual report filing.&nbsp;
Also read/watch| <a title="Terra LUNA 2.0: Collapse to resurrection, meet the new crypto avatar" href="https://www.editorji.com/business-news/cryptocurrency/terra-luna-2-0-collapse-to-resurrection-meet-the-new-crypto-avatar-1653532939822">Terra LUNA 2.0: Collapse to resurrection, meet the new crypto avatar</a> With almost 97% of the hike based on performance variable the annual filing goes into great detail to justify this gigantic jump.&nbsp; "Under Salil&rsquo;s leadership 1 , the Company&rsquo;s Total Shareholder Return (TSR) was an impressive 314%, the highest among peers The revenue growth of the Company under Salil&rsquo;s leadership has accelerated and grown from `70,522 crore (fiscal 2018) to `1,21,641 crore (fiscal 2022), a CAGR of 15% (prior four years CAGR 9%) and the profits have also increased from `16,029 crore to `22,110 crore", the report said. Parekh&nbsp;has been the Chief Executive Officer and Managing Director of Infosys since Jan 2018 and took over a difficult time for the tech major. However a turnaround has been scripted and that is reflecting in the market bets over the last 5 years with its shares rallying 187 per cent, and its market value rising by nearly Rs 4 lakh crore.

7th pay commission Latest News: A hike in Dearness Allowance is expected to be announced soon as the Union Cabinet is meeting on Wednesday.


7th pay commission: Central Govt employees expect Dearness Allowance (DA) hike before Holi

A 3% hike in central government employees dearness allowance is expected soon.

DA hike expected soon

Centre, currently, pays DA at 31 percent and if it is raised by 3 percent then the allowance will be 34 percent.

A hike in Dearness Allowance is expected to be announced soon as the Union Cabinet is meeting on Wednesday.
Many reports say that Central government employees and pensioners are likely to receive a news on DA hike from the government before this&nbsp;Holi.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/extra-slice-of-tax-for-pizza-toppings-here-is-why-1647320513110" target="_blank">Extra slice of tax for pizza toppings! Here is why</a>
The central government employees can expect their DA to go up by 3 percent, effective January 1, 2022. They can expect to receive the increased salary, along with arrears for January and February 2022, in March.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/gloves-come-off-as-amazon-calls-ril-future-deal-fraud-in-public-notice-1647322443175" target="_blank">Gloves come off as Amazon calls RIL-Future deal fraud in public notice</a>
At present, the Centre pays DA at 31 percent and if it is raised by 3 percent then the allowance will be 34 percent. &nbsp; DA is hiked time to time by the central government to offset the inflationary impact on employees&rsquo; salary.
Also read/watch |&nbsp;<a href="https://www.editorji.com/business-news/personal-finance/price-hikes-from-maggie-to-coffee-see-what-is-costlier-1647245317371" target="_blank">Price hikes from Maggi to coffee: See what is costlier</a>

salary hikes

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