Pakistan’s National Assembly and Senate have passed a bill to increase parliamentarians' salaries by 138%, raising them from PKR 218,000 to PKR 519,000. The bill, passed without opposition, now awaits presidential approval despite the country’s ongoing economic challenges.

Pakistan MPs approve bill to increase their salary, awaits presidential nod

<p>The rise in salaries in India in 2023 is expected to be slightly lower than the last year, Ernst &amp; Young's 'Future of Pay' survey revealed. While the actual average rise in the salaries of Indian employees was noted at 10.4 per cent, the E&amp;Y's projection pegs the average increase in salaries at 10.2 per cent in 2023 across all job groups.&nbsp;</p>

<h2><strong>Salary increase calculators 2023: E-commerce employees likely to take biggest pay rise</strong></h2>

<p>The e-commerce sector employees are likely to take home the biggest pay-raise in 2023. This comes after a spree of layoffs by some of the world's biggest e-commerce players in the past few months, leaving thousands of their employees operating from India without jobs. The e-commerce employees in India are expected to have the highest salary growth at 12.5 per cent.&nbsp;</p>

<p><strong>ALSO READ |&nbsp;<a href="https://www.wionews.com/business-economy/amazon-announces-second-round-of-layoffs-9000-more-employees-to-lose-their-jobs-573984">Amazon announces second round of layoffs; 9,000 more employees to lose jobs</a></strong></p>

<p>After the members of the workforce employed by the e-commerce companies, the professional services are expected to give their employees an average salary increase of 11.9 per cent. The IT sector (Information Technology) employees are pegged to take home an average salary increase of 10.8 per cent in 2023.&nbsp;</p>

<h2><strong>Variable payout 2023: What to expect?</strong></h2>

<p>The average variable payout as a proportion of total compensation was 15.6 per cent in 2022. In 2021, amid COVID-19 pandemic, it was just 14 per cent. Banks and financial institutions had the highest overall variable pay-out percentage of 25.5 per cent. The emphasis on performance-based incentives was more in the financial sector. The telecommunications sector had a lesser variable pay-out percentage of 13.7 per cent, a little less than other sectors.</p>

<h2><strong>Jobs of present: What is in demand in 2023?</strong></h2>

<p>The jobs in the emerging sectors of the future that continue to evolve the current world around us are pegged to remain in demand in 2023. The sectors such as Artificial Intelligence, Machine Learning and Cloud computing skills are likely to remain in higher demand.</p>

<p><strong>ALSO WATCH |&nbsp;Gravitas: Tech layoffs: Is your job safe?</strong></p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-tech-layoffs-is-your-job-safe-557687/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

<p>Sectors such as e-commerce, renewable energy, digital services, telecommunications, educational services, retail and logistics and financial technology will remain the most promising emerging job sectors in India in 2023. All these sectors have varying degrees of promising forecasts for growth in 2023.</p>

<p><strong>WATCH WION LIVE HERE</strong></p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1  width=&quot;100%&quot;"></iframe></p>

<p>You can <strong>now write for wionews.com</strong> and be a part of the community. Share your stories and opinions with us <strong><a href="https://www.wionews.com/content-contribution-registration-form">here</a>.</strong></p>


The rise in salaries in India in 2023 is expected to be slightly lower than the last year, Ernst & Young's 'Future of Pay' survey revealed. While the actual average rise in the salaries of Indian employees was noted at 10.

The rise in salaries in India in 2023 is expected to be slightly lower than the last year, Ernst & Young's 'Future of Pay' survey revealed. While the actual average rise in the salaries of Indian employees was noted at 10.4 per cent, the E&Y's projection pegs the average increase in salaries at 10.2 per cent in 2023 across all job groups. Salary increase calculators 2023: E-commerce employees likely to take biggest pay rise The e-commerce sector employees are likely to take home the biggest pay-raise in 2023. This comes after a spree of layoffs by some of the world's biggest e-commerce players in the past few months, leaving thousands of their employees operating from India without jobs. The e-commerce employees in India are expected to have the highest salary growth at 12.5 per cent. ALSO READ | Amazon announces second round of layoffs; 9,000 more employees to lose jobs After the members of the workforce employed by the e-commerce companies, the professional services are expected to give their employees an average salary increase of 11.9 per cent. The IT sector (Information Technology) employees are pegged to take home an average salary increase of 10.8 per cent in 2023. Variable payout 2023: What to expect? The average variable payout as a proportion of total compensation was 15.6 per cent in 2022. In 2021, amid COVID-19 pandemic, it was just 14 per cent. Banks and financial institutions had the highest overall variable pay-out percentage of 25.5 per cent. The emphasis on performance-based incentives was more in the financial sector. The telecommunications sector had a lesser variable pay-out percentage of 13.7 per cent, a little less than other sectors. Jobs of present: What is in demand in 2023? The jobs in the emerging sectors of the future that continue to evolve the current world around us are pegged to remain in demand in 2023. The sectors such as Artificial Intelligence, Machine Learning and Cloud computing skills are likely to remain in higher demand. ALSO WATCH | Gravitas: Tech layoffs: Is your job safe? × Sectors such as e-commerce, renewable energy, digital services, telecommunications, educational services, retail and logistics and financial technology will remain the most promising emerging job sectors in India in 2023. All these sectors have varying degrees of promising forecasts for growth in 2023. WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

How much salary hike your employer is planning in 2023? Crucial report drops key revelations

<p>Salaries are projected to increase by 10 per cent in India in 2018, the highest in the Asia Pacific region, according to a report.</p>

<p>The highest projected salary rise is seen in the energy, FMCG and retail sectors.</p>

<p>&quot;Salaries in India are projected to rise 10 per cent in 2018, same as the actual increase in 2017,&quot; according to the &#39;Q3 2017 Salary Budget Planning Report&#39; released by global advisory, broking, and solutions company Willis Towers Watson.</p>

<p>The report covered a range of industries, including BPO, chemicals, construction &amp; engineering, consumer products &amp; retail, financial services, high tech, manufacturing, media, pharmaceutical &amp; health sciences, business and technical consulting and transportation and logistics.</p>

<p>For this, a survey was conducted in July among 4,000 respondents in Asia Pacific, in which about 300 companies participated in the India market.</p>

<p>Although salaries in India are seeing a decreasing pattern in the year-on-year salary increases, the country&#39;s projected salaries for 2018 is still the highest in the Asia Pacific region, the report said.</p>

<p>Among other countries, Indonesia is projected to record 8.5 per cent growth, China 7 per cent, The Philippines 6 per cent and Hong Kong and Singapore both 4 per cent, it added.</p>

<p>&quot;India continues to show high salary increments compared to other countries in the Asia Pacific region. However, given the decreasing pattern in the year-on-year salary growth, Indian employees could see a single digit salary increase in 2018 for the first time since 2011,&quot; Willis Towers Watson Data Services Practice Leader, Asia Pacific, Sambhav Rakyan said.</p>

<p>He said given this trend and the rapid evolution of jobs, skill and the future of work, especially for tech-savvy talent, companies are required to rethink their talent attraction and retention strategies and realise that simply increasing compensation is not a sustainable solution.</p>

<p>&quot;We are also seeing that progressive employers are beginning to leverage employee benefits as a strong lever in differentiating their employee value proposition and ensuring greater transparency in compensation and benefits related communication,&quot; he added.</p>

<p>Salary allocation for top performers in 2017 grew to 39 per cent, up from last year&#39;s 38 per cent, Rakyan said.</p>

<p>On the other hand, the budget set aside for average performance decreased by 1 per cent to 27 per cent, he added.</p>

<p>These changes are marginal, but as salary budgets get tighter, it still reflects the sentiment of employers to reward top performers, Willis Towers Watson India Director, Rewards, Arvind Usretay said.</p>

<p>&quot;Therefore, now we see more companies relying on robust processes, governance, and training at driving linkages between performance and pay. We expect this trend to gather greater momentum in the next couple of years as companies sharpen their pay for performance policies,&quot; he added.</p>

<p>Among the industries covered in the report, the highest projected salary increase is seen in the energy, FMCG and retail sectors.</p>

<p>At 10.5 per cent, these sectors are expected to do better than the overall projected salary of 10 per cent.</p>

<p>While at 9.1 per cent, the financial services is the only sector where the projected salary is less than the overall estimated rise, the report added.</p>

<p>&quot;Given the labour arbitrage advantage, segments such as back-office operations based out of India can be expected to offer above-average increases.</p>

<p>&quot;Start-ups and smaller MNCs are also likely to offer above average salary increases to attract and retain critical skill employees,&quot; Rakyan added.</p>


The report covered a range of industries, including BPO, chemicals, construction & engineering, consumer products & retail, financial services, high tech, manufacturing, media, pharmaceutical & health sciences, business and technical consulting and transportation and logistics.

Salaries are projected to increase by 10 per cent in India in 2018, the highest in the Asia Pacific region, according to a report. The highest projected salary rise is seen in the energy, FMCG and retail sectors. "Salaries in India are projected to rise 10 per cent in 2018, same as the actual increase in 2017," according to the 'Q3 2017 Salary Budget Planning Report' released by global advisory, broking, and solutions company Willis Towers Watson. The report covered a range of industries, including BPO, chemicals, construction & engineering, consumer products & retail, financial services, high tech, manufacturing, media, pharmaceutical & health sciences, business and technical consulting and transportation and logistics. For this, a survey was conducted in July among 4,000 respondents in Asia Pacific, in which about 300 companies participated in the India market. Although salaries in India are seeing a decreasing pattern in the year-on-year salary increases, the country's projected salaries for 2018 is still the highest in the Asia Pacific region, the report said. Among other countries, Indonesia is projected to record 8.5 per cent growth, China 7 per cent, The Philippines 6 per cent and Hong Kong and Singapore both 4 per cent, it added. "India continues to show high salary increments compared to other countries in the Asia Pacific region. However, given the decreasing pattern in the year-on-year salary growth, Indian employees could see a single digit salary increase in 2018 for the first time since 2011," Willis Towers Watson Data Services Practice Leader, Asia Pacific, Sambhav Rakyan said. He said given this trend and the rapid evolution of jobs, skill and the future of work, especially for tech-savvy talent, companies are required to rethink their talent attraction and retention strategies and realise that simply increasing compensation is not a sustainable solution. "We are also seeing that progressive employers are beginning to leverage employee benefits as a strong lever in differentiating their employee value proposition and ensuring greater transparency in compensation and benefits related communication," he added. Salary allocation for top performers in 2017 grew to 39 per cent, up from last year's 38 per cent, Rakyan said. On the other hand, the budget set aside for average performance decreased by 1 per cent to 27 per cent, he added. These changes are marginal, but as salary budgets get tighter, it still reflects the sentiment of employers to reward top performers, Willis Towers Watson India Director, Rewards, Arvind Usretay said. "Therefore, now we see more companies relying on robust processes, governance, and training at driving linkages between performance and pay. We expect this trend to gather greater momentum in the next couple of years as companies sharpen their pay for performance policies," he added. Among the industries covered in the report, the highest projected salary increase is seen in the energy, FMCG and retail sectors. At 10.5 per cent, these sectors are expected to do better than the overall projected salary of 10 per cent. While at 9.1 per cent, the financial services is the only sector where the projected salary is less than the overall estimated rise, the report added. "Given the labour arbitrage advantage, segments such as back-office operations based out of India can be expected to offer above-average increases. "Start-ups and smaller MNCs are also likely to offer above average salary increases to attract and retain critical skill employees," Rakyan added.

India to see 10 per cent salary increase in 2018: Report

salary-increase

Salary Increase, News on Salary Increase, stories on Salary Increase, articles on Salary Increase, Salary Increase stories at Wion, Salary Increase news, Salary Increase latest news