While hi-tech and IT is projected to offer an average salary hike of 11.2 per cent in 2022, followed by professional services (10.6 per cent), e-commerce (10.6), ITeS (9.6 per cent), and lifesciences & pharma (9.3 per cent), sectors like cement, energy, and engineering design services may offer a 7.8-7.7 per cent increment.Īccording to Chaudhary, while the pandemic risk in India continues, the business sentiment and salary projections for 2022 revealed that employers were building for growth and were much better prepared than in 2020. The sectors with the lowest salary increase projected for 2022 are hospitality, engineering services, and energy. The top three sectors with the highest salary increase projected for 2022 are technology, e-commerce, and IT-enabled services. On the other hand, the share of companies giving zero and 0-5 per cent increments is projected to fall to 1.1 per cent and 4.5 per cent in 2022 from 2.5 per cent and 7.3 per cent, respectively. Similarly, as against 20.4 per cent of companies offering a 10 per cent salary hike in 2021, the estimates for 2022 are 24.7 per cent. In India, the salary itself is almost the same amount as the Brazilian one, but the variety of benefits like a Rent Allowance, Travel allowance, Child Education Allowance, makes the salaries in India much higher.Talking about the findings, Roopank Chaudhary, partner in Aon’s human capital business, said that as against nearly 37 per cent of companies offering 8 to 10 per cent salary hike in 2021, the projections for 2022 stand at 43 per cent for the bracket. The reason for this disparity is the consideration of the benefits. For example an engineer’s salary: the average salary in Brazil for an engineer is around US$1,481, and in India it is around US$7,728.
While benchmarking the average salaries in India and Brazil, it is noticeable that there is a great difference between the amount of remuneration in any kind of job position. Studies show that until 2050, these two countries will be in the top 5 biggest economies of the world. Brazil and India are two of the main emerging countries in the world, also they are part of a economic group called BRICS.
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