Average increments to drop to 9.1 per cent in 2023 across sectors: Study
Mumbai, March 29
Average increments are likely to drop to 9.1 per cent this year in almost all sectors following inflation, higher interest rates and a slowdown in the economy, according to a study.
The average increment in 2022 was 9.4 per cent, Deloitte India Talent Outlook 2023 stated on Wednesday.
The study found that in 2023 increments are expected to be lower across almost all sectors, compared to 2022 actual increments.
While the Life Sciences sector is expected to witness the highest increments in 2023, the IT sector will likely witness a major drop in increments as compared to last year, the study said.
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