India, March 7 -- India Inc could see a 9.6% salary increase on average in 2024, similar to the actual increase last year, as per a report by EY 'Future of Pay 2024'. In 2023, overall attrition fell to 18.3% (from 21.2% in 2022). This is set to gradually decline over the next few years, the report claimed as companies will focus more on cost management and employee well-being.

Abhishek Sen, partner, EY India, said in a statement, "While overall average salary increase in India Inc. holds steady compared to last year, certain sectors such as ecommerce, financial services and professional services firms are poised for significant pay raises in 2024. There is also a discernible trend towards embracing a more comprehensive rewards value prop...