Corporate salaries in India to rise between 6-15% this year: Report
The Banking and Financial Services sector remains a key driver of economic growth and employment.
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Salaries in corporate India are set to rise between 6% and 15% this year, influenced by industry trends, role significance, and specialized skills, according to the Michael Page 2025 Salary Guide. For highly sought-after expertise and key leadership positions, hikes could soar up to 40%. The report highlights India's job market as resilient, with hiring activity picking up across sectors compared to early 2024.
According to the report, salary increments for promotions typically range from 20% to 30%, rising to 30% to 40% for emerging skills and critical leadership roles. Annual salary hikes vary from 6% to 15%, depending on the industry, role criticality, and niche skills. Organisations are increasingly offering Employee Stock Ownership Plans (ESOPs) and long-term incentive plans, especially for senior positions.
"The emphasis on diversity and inclusion has strengthened, with many organisations targeting 50% female representation through competitive compensation packages and flexible working arrangements," the report said.
The Banking and Financial Services sector remains a key driver of economic growth and employment, continuously evolving with advancements in technology, analytics, and customer-centric innovations. Demand remains strong for professionals across front-office, middle-office, and back-office roles.
In Engineering and Manufacturing, the demand for niche skill sets has surged, with multinational corporations increasingly establishing Engineering and R&D centers in India, particularly in Karnataka, Telangana, Maharashtra, Gujarat, and the National Capital Region.
The Real Estate industry is undergoing a major transformation, with active hiring across land acquisition, business development, construction, liaison, facilities management, and leasing/sales functions. Additionally, ESG and health-focused roles are gaining prominence.
The Human Resources landscape is rapidly evolving due to digital transformation, hybrid work models, and shifting workforce demographics. Companies now prioritize employee experience, well-being, and flexible work arrangements, while HR professionals are expected to integrate data analytics, employee engagement strategies, and digital tools into recruitment, onboarding, and talent management processes.
