2024 Salary Increase Projections India. In 2023, 96% of organizations increased salaries (compared to 63% in 2020) as overall salary increase budgets and total compensation spend reached new heights. 2024 salary increase budgets moderate;

India again shows the largest average salary increase budget in the survey, averaging 9.6% for 2024. Now, in 2023, average actual salary increases in the 15 largest economies have hit 5.4%, according to data from the july edition of wtw’s salary budget planning.