The average corporate salary increment in India is expected to be somewhere in the range of 8 to 11per cent across levels this year, a talent company said.

As per Randstad India, professionals with a work experience of up to 5 years, are likely to outshine seniors with the highest increment in the range of 10 to 11 per cent.

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The demand for freshers and junior professionals is uniformly high across Tier 1 and Tier 2 cities in India.

Further, for senior professionals with more than 15 years of work experience, the projected salary increases are anticipated to be in the range of 8 to 9 per cent.

Professionals at an intermediate level can expect a slightly higher average annual raise estimated between 9-10 per cent.

Within the various industries, it is anticipated that the greatest salary increases will be in sectors like internet/e-commerce, manufacturing, and Banking Financial Services & Insurance (BFSI).

These sectors are projected to experience an average wage increase within the scope of 10-12 per cent for this fiscal year, the report said.

Enhancement towards a value-added paradigm in the e-commerce sector has significantly accelerated the need for middle to senior-level management personnel who are capable of driving business expansion.

For the manufacturing sector, factors contributing to wage increases can be associated with technological advancements, amplified requisition for skilled resources, and underscored attention on innovation, research, and automation practices.

The information technology and information technology-enabled services (IT/ITeS) may witness the lowest salary hikes in the range of 7 to 9 per cent owing to global headwinds.

Notably, the data additionally indicates that employee attrition rates in 2024 are projected to range between 13-14 per cent, a decrease from the years of the pandemic.

The attrition rates during 2022 and 2023 were noted to be within an elevated bracket of 18-20 per cent.

This remains higher than the pre-pandemic figure of 11-12 per cent recorded in 2020. Projections suggest a likely downward trend over the forthcoming period of approximately 12-18 months when it could potentially drop below pre-pandemic levels.