Covid effect on salaries: Just 40% firms gave hikes, increments down to 3.6%2 min read 24 Aug 2020, 11:00 AM IST
Life sciences and ITeS were among the sectors that gave their employees higher raises, but here too the average increment is about 7%. Manufacturing and services firms, worst hit by the lockdown, gave hikes of about 2%, the lowest
BENGALURU: A mere 9% of companies have given their teams salary increments of 10% or more this year, the effect of a slowing economy and covid-19. The average hike across sectors has come down to 3.6%, an all-time low. In 2019, close to 90% of companies gave increments of about 8.6%.
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