Aon Survey Projects 9.1% Salary Growth in India for 2027, NBFCs and Energy Sectors to Lead

Global professional services firm Aon plc has released the findings from its 33rd Annual Salary Increase and Turnover Survey for India 2026-27, analyzing data across 1,200 organizations in 45 sectors. The report projects an average salary increase of 9.1% for 2027, demonstrating steady compensation trends compared to the 9% actual increase recorded in 2026. This sustained trajectory reflects strong business confidence and economic resilience in India, supported by robust domestic consumption and continuous investments despite global market uncertainties.

Industry Breakdown and Comparative Highlights:
Salary increases vary across industries, with financial and energy sectors taking the lead in workforce compensation:

Non-Banking Financial Companies (NBFCs): Projected to lead corporate salary growth with a 10.1% increase in 2027, rising from 9.6% in 2026.

Energy (Oil/Gas/Power): Expected to see a 9.9% rise in 2027, up from 9.7% in the previous year.

Real Estate & Infrastructure: Anticipated to offer a 9.8% hike in 2027, following a 10.3% increase in 2026.

Asset Management & Life Sciences: Both sectors are projected to provide a 9.6% salary growth in 2027, up from 9.4% and 9.5% respectively.

Automotive & Manufacturing: Automotive manufacturing is set at 9.5% in 2027 (compared to 9.7% in 2026), while Fast-Moving Consumer Goods (FMCG) stands at 9.1%.

Global Capability Centres (GCCs): Expected to increase pay by 9.4% in 2027, up from 9.3% in 2026.

Attrition Trends, AI Premium, and Wage Code Readiness:
The survey highlights that overall corporate attrition rose to 18% in 2026 (up from 16.2% in 2025), signaling intense competition for critical talent across industries. Additionally, enterprise adoption of AI tools has surged to 56%, driving a 10% premium in compensation for roles in AI, machine learning, and data science. Meanwhile, 65.4% of employers are fully compliant with the statutory Wage Code, as companies realign their pay structures and reward strategies to maintain market competitiveness.

Leadership Perspectives on Talent Investment:
Commenting on the survey findings, Roopank Chaudhary, Partner & Rewards Consulting Leader, Talent Solutions India at Aon, noted that stable budgets are enabling employers to adopt a more targeted approach to compensation and focus investment where it delivers maximum business value. Complementing this, Amit Kumar Otwani, Associate Partner at Aon, emphasized that organizations must proactively assess cost and workforce implications associated with AI integration and Wage Code compliance to build long-term workforce trust.