Salary hikes for job switches to normalise as companies see slowdown in attrition

Record salary increments given out by IT companies over the last two years are expected to fall in the next fiscal year, IT analysts said, as a global slowdown is forcing companies to balance hiring against rising expenses.

From a range of 12% on average to an estimated 9% hike will mark a return to pre-Covid-19 levels, they said.

While critical roles will stay in demand, the massive 70-80% hikes doled over the last few months will also taper off, analysts said.