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Appraisal: Funding winter or not, startups loosen purse strings to reward top talent

pay hikes: Consumer companies likely to see high single-digit pay hikes

Pay hikes in 2024 for consumer companies are expected to be in high single digits, slightly lower than last year. The slowdown in rural demand and competition from regional players have impacted the pay hikes. The projected salary increments for this sector will be in the range of 8.5-9.8%, stable compared to the last three years. Last year, pay hikes were better after two years of disruptions caused by the pandemic.

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