Indian salaries are projected to rise by 9.1% in 2027, broadly stable from the actual increase of 9% recorded in 2026, according to Aon’s 33rd Annual Salary Increase and Turnover Survey for India 2026-27.
The survey analysed data from more than 1,200 organisations across 45 industries. Aon said employers are maintaining stable compensation budgets even as they balance growth ambitions, rising workforce costs and intensifying competition for specialised talent. The projection comes against a backdrop of geopolitical risk and uncertainty around global trade.
Sector-wise, non-banking financial companies (NBFCs) are expected to lead with projected pay increments of 10.1% in 2027, up from 9.6% in 2026. The energy sector is projected to deliver 9.9% increases, real estate and infrastructure 9.8%, and Global Capability Centres (GCCs) 9.4%, up marginally from 9.3% in 2026.
“Stable salary budgets are enabling a more targeted approach to pay,” said Roopank Chaudhary, Partner and Rewards Consulting Leader for Talent Solutions India at Aon. Chaudhary added that employers are channelling investment where it delivers maximum business value, with specialised capabilities in artificial intelligence, machine learning and data science commanding roughly a 10% premium over broader engineering roles.
Attrition climbed back to 18% in 2026 from 16.2% in 2025 and 17.1% in 2024, the survey found, reversing an easing trend seen in the previous year and pointing to a tighter market for specialist talent in 2027.
