Key Points
India's automotive sector employers are likely to offer double-digit pay increases in 2024, according to a new study, continuing the uptrend of the previous years as they seek to retain good talent...
The pay rise is likely to be 10.5% on average for staff of automotive producers and 10% for those working for suppliers, according to Deloitte's Increment and Attrition Trends Study, which the company shared exclusively with ET...
This is in line with the trend of the previous few years and higher than the India Inc average of more than 9% expected this year, which ET had reported earlier...
"The past three years have witnessed double-digit hikes for the automotive industry, especially the producers," said Neelesh Gupta, director, Deloitte India..
"Average salary hike for our workforce (over 5,000 employees) is expected to hover around 10%," said Amit Sharma, business HR head at International Tractors Limited...
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