It’s that time of the year when most companies give out annual increments and bonuses to their employees. “Most big sectors such as telecom finalise their increments on 30 June. The projection for this year is 9.4% for existing employees. Our expectation is it will remain in single digit for two reasons—lower inflation and slower growth rate for companies. Also, the pay for middle-level management has improved significantly in India,” said Anandorup Ghose, partner, talent and rewards, Aon India. If you have switched jobs, it is likely that your raise would be in double digits, according to Michael Page data. Whether it is a double digit or a single digit raise, you should think of what to do with the money. Here is a look at who can splurge and who shouldn’t:
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