Salaries are expected to grow less than in 2024 in 2025, according to a survey by Omam Consultants. The survey stated that the expected average increase in income this year is 9.4%, less than 9.7% in 2024.
The growth rate is expected to vary as per the industry. The automotive and fast-moving consumer goods (FMCG) industries are expected to lead the charge with an expected growth of 10.5% each. The e-commerce and pharmaceutical industries are expected to follow behind with a salary growth of 10%.
In contrast, IT and IT-enabled services (ITES) are expected to see the least growth in salary. As per Omam Consultants, both industries will see a rise of 8.2% and 8% respectively. The latter is a reflection of the slowdown in technology industry in the upcoming times.
Other notable industries in the survey, like manufacturing, chemicals, and consumer durable sectors, will see a growth of 9.5%. Compared to 2024, though, all the industries, apart from automobile, will likely see a lower salary growth in 2025.
The notable expectation in this slower salary growth is centered around the rising demand for GenAI professionals. As per the survey, many of the 100 organizations across the 10 sectors are willing to offer at least a 54% salary increase for AI experts. Companies are also looking to hire more data science and analytics reports, including those proficient in statistical analysis, SQL, and visualization tools (Tableau and Power BI). A 7.5% salary increase is also on the table for those with critical talent whom the companies might want to retain.
The Omam Consultants survey also highlighted that the average attrition rate in 2025 at 13.5% is lower as compared to previous years. The average attrition rate in 2024 was 13.75%, and 17.09% in 2022. The banking and financial sectors have seen the most reduction, with their attrition rate falling from 22.3% in 2023 to 18% in 2025. On the other hand, the attrition rate for the ITES industry has risen to 20.2%.
Through its findings, the survey shed light on the changing working dynamics in India. Most companies are looking forward to bringing back the work-from-office model while still offering hybrid arrangements for specific positions. As for recruitment, AI-driven resume screening and skill assessments are on the rise to allow companies to attract top talent.
