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Only 29 per cent of Indian employees are satisfied with their current pay levels, while a large majority are planning to seek salary hikes over the next 12 months amid rising cost-of-living concerns, according to a survey report by the Association of Chartered Certified Accountants.
The report stated that the cost of living continues to remain one of the top work-related concerns globally in 2026 and is the second biggest concern among Indian employees after fears around jobs being replaced by technology. According to the report, 81 per cent of respondents in India plan to ask their employers for a pay raise in the next 12 months. It stated, "Both globally and in India, the proportion of those seeking to ask for a pay rise has risen since 2025 - with 81 per cent of respondents in India planning to ask their employer for a pay rise in the next 12 months, higher than the 67 per cent in 2025 and the 2026 global average (62 per cent)". The findings reflect increasing pressure on employers as inflation and higher living costs continue to impact household budgets across the country. The survey report noted that only 29 per cent of Indian respondents said they were satisfied with their current salary levels, compared to the global average of 36 per cent. Among different age groups, Millennials showed the strongest intention to seek pay hikes, with 90 per cent planning to ask for salary increases over the next year. This was higher compared to Gen Z at 77 per cent and Gen X at 75 per cent. The report also highlighted that salary expectations among Indian employees remain significantly higher than global averages. Around 68 per cent of Indian respondents expect a salary increase of more than 10 per cent, compared to 37 per cent globally. Among employees expecting hikes above 10 per cent, Gen X workers showed the highest expectations at 76 per cent, followed by Gen Z at 60 per cent and Millennials at 55 per cent. According to the report, compensation continues to remain the most important factor for employees, especially among younger professionals who are focused on higher take-home pay. However, mid-career professionals are increasingly placing equal importance on remuneration and meaningful work. The report said employers are increasingly facing pressure to balance rising salary expectations with profitability and retention strategies. (ANI)
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