Good News for Indian Employees – Salary Likely to be Hiked by 2023! Amid the global economic crisis and rising inflation, there are reports that the salaries of employees are likely to increase by 2023. Specifically, it has been said that the salaries of all employees will increase by an average of 5 percent. Now India is among the top 8 countries where wages are rising.
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With this report, the salary of employees in India is expected to increase significantly. Even though India’s current inflation rate is 7 percent, employees’ salaries are likely to increase by 10 to 12 percent. Pakistan and Sri Lanka are at the bottom of the list of countries seeing salary hikes. The survey was conducted across more than 360 multinational companies in 68 countries and cities. Now, Brazil (3.4%) and Saudi Arabia (2.3%) top the list.
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It is followed by India (4.6), Vietnam (4.0), China (3.8), Brazil (3.4), Saudi Arabia (2.3), Malaysia (2.2), Cambodia (2.2), Thailand (2.2), Oman (2.0), and Russia (1.9). However, only one-third of these countries are projected to generate real wage increases. Meanwhile, workers in Europe may have some trouble getting a raise, the survey said. This includes, in particular, the United Kingdom and the United States.