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Business Standard
2 hours ago
- Automotive
- Business Standard
India's auto firms to give double-digit salary hikes in FY26: Deloitte
The automotive industry is projected to offer an average salary hike of 10.1 per cent for the financial year 2025–26 (FY26), The Economic Times reported, citing Deloitte's 'Performance and Rewards Trends Study' for automotive producers. This projection is notably higher than the average 8 per cent salary growth seen across other Indian sectors. Some firms concluded their appraisals for FY26 in March 2025, while others are expected to finalise them after June, depending on their financial year-end. EVs, automation, AI roles driving demand for skilled talent Human resource heads at Hyundai Motor India Ltd (HMIL) and Skoda Auto Volkswagen India Pvt Ltd attributed the double-digit hikes to increased demand for roles in electric vehicles, research and development, product engineering, automation, artificial intelligence (AI), and machine learning. Top-performing employees are likely to receive raises exceeding the 10 per cent mark, according to the report. Double-digit raises continue for fifth straight year Neelesh Gupta, partner at Deloitte India, noted that FY26 would mark the fifth consecutive year of double-digit pay hikes for the automotive sector. However, he added that the rate of increase has been gradually declining over the past three years. Compared to last year's 10.5 per cent hike, this year's projected 10.1 per cent still places the automotive sector ahead of India Inc's overall average of 8.8 per cent for FY25. Automobile exports up 19% in FY25 India's automobile exports rose by 19 per cent to over 5.3 million units in FY25, compared to 4.5 million in FY24. Passenger vehicle exports rose by 15 per cent to 770,364 units in FY25, up from 672,105 the previous year, according to industry body SIAM. The segment delivered its best-ever annual performance, driven by global demand for India-manufactured models. IT sector braces for modest salary hikes In contrast, India's IT services sector is likely to witness more modest salary hikes, amid global economic uncertainties and a shift in skill requirements. Average pay increases are projected to range between 4 and 8.5 per cent—lower than in previous years—indicating a move towards more sustainable compensation structures in the face of growing AI adoption and cost optimisation.
Time of India
7 hours ago
- Automotive
- Time of India
Auto sector shifts into high hear with 10.1% salary hikes in FY25
The automotive industry continues its lead over other sectors in terms of pay hikes, offering double-digit increments, outperforming average single-digit raises for most of India Inc. Automotive companies will likely issue a 10.1per cent salary hike for FY25 compared to an average more than 8per cent for other Indian corporates, according to Deloitte's 'Performance and Rewards Trends Study' for automotive producers, shared exclusively with ET. Some companies have completed the appraisal process for FY25 in March this year while others are in the process of doing so as their financial year ends in June or even later. Double-digit salary increases are mostly driven by a high in-demand talent pool across job functions like electric vehicles, R&D, product, digitalisation, automation, AI, and ML, said HR heads at Sonalika Group, Hyundai Motor India Ltd (HMIL), and Skoda Auto Volkswagen India Pvt Ltd. Top performers are likely to get double-digit or higher pay hikes this year, they said. For the fifth straight year, auto firms will see a double-digit salary increment though the percentage increase will decline for the third year in a row, said Neelesh Gupta, partner at Deloitte India. Last year, the automotive sector issued a 10.5per cent pay hike. "Despite the drop, automotive producers continue to outpace the India Inc salary increment number which averages at 8.8per cent for FY25," said Gupta. Salary increase expectations for this year is expected to be in the range of 9.5-10.0per cent, in line with overall auto industry expectations, said Amit Sharma, corporate HR head, Sonalika Group.
Economic Times
7 hours ago
- Automotive
- Economic Times
Auto sector shifts into high hear with 10.1% salary hikes in FY25
The automotive sector is set to lead salary hikes in FY25, offering an average increase of 10.1%, ahead of the 8.8% average across India Inc, according to Deloitte's latest study. The hikes are driven by demand for talent in areas like EVs, R&D, automation, AI, and ML. Tired of too many ads? Remove Ads The automotive industry continues its lead over other sectors in terms of pay hikes, offering double-digit increments, outperforming average single-digit raises for most of India companies will likely issue a 10.1% salary hike for FY25 compared to an average more than 8% for other Indian corporates, according to Deloitte's 'Performance and Rewards Trends Study' for automotive producers, shared exclusively with ET. Some companies have completed the appraisal process for FY25 in March this year while others are in the process of doing so as their financial year ends in June or even salary increases are mostly driven by a high in-demand talent pool across job functions like electric vehicles, R&D, product, digitalisation, automation, AI, and ML, said HR heads at Sonalika Group, Hyundai Motor India Ltd (HMIL), and Skoda Auto Volkswagen India Pvt Ltd. Top performers are likely to get double-digit or higher pay hikes this year, they said. For the fifth straight year, auto firms will see a double-digit salary increment though the percentage increase will decline for the third year in a row, said Neelesh Gupta, partner at Deloitte year, the automotive sector issued a 10.5% pay hike. "Despite the drop, automotive producers continue to outpace the India Inc salary increment number which averages at 8.8% for FY25," said increase expectations for this year is expected to be in the range of 9.5-10.0%, in line with overall auto industry expectations, said Amit Sharma, corporate HR head, Sonalika Group.
Time of India
15 hours ago
- Automotive
- Time of India
Auto sector shifts into high hear with 10.1% salary hikes in FY25
The automotive sector is set to lead salary hikes in FY25, offering an average increase of 10.1%, ahead of the 8.8% average across India Inc, according to Deloitte's latest study. The hikes are driven by demand for talent in areas like EVs, R&D, automation, AI, and ML. Tired of too many ads? Remove Ads The automotive industry continues its lead over other sectors in terms of pay hikes, offering double-digit increments, outperforming average single-digit raises for most of India companies will likely issue a 10.1% salary hike for FY25 compared to an average more than 8% for other Indian corporates, according to Deloitte's 'Performance and Rewards Trends Study' for automotive producers, shared exclusively with ET. Some companies have completed the appraisal process for FY25 in March this year while others are in the process of doing so as their financial year ends in June or even salary increases are mostly driven by a high in-demand talent pool across job functions like electric vehicles, R&D, product, digitalisation, automation, AI, and ML, said HR heads at Sonalika Group, Hyundai Motor India Ltd (HMIL), and Skoda Auto Volkswagen India Pvt Ltd. Top performers are likely to get double-digit or higher pay hikes this year, they said. For the fifth straight year, auto firms will see a double-digit salary increment though the percentage increase will decline for the third year in a row, said Neelesh Gupta, partner at Deloitte year, the automotive sector issued a 10.5% pay hike. "Despite the drop, automotive producers continue to outpace the India Inc salary increment number which averages at 8.8% for FY25," said increase expectations for this year is expected to be in the range of 9.5-10.0%, in line with overall auto industry expectations, said Amit Sharma, corporate HR head, Sonalika Group.
