Salaries Expected to Increase Between 7 and 8% in 2024, Survey says

Korn Ferry has released its Compensation Survey 2023 covering over 200 companies in Mauritius, with data gathered from more than 48,000 employees.

Caroline Piat, Associated Partner at Korn Ferry, salary increases projected for 2024 are expected to hover around 7%-8% percent.

From a sectoral perspective, the banking sector shows lower salary increases for both office/operations employees and supervisory/entry-level professional positions, as well as for mid-level/experienced professionals and senior executives/leadership roles.

The survey also noted a significant shift in the salaries of new recruits. “The talent attraction factor could explain this.

It should also be highlighted that years of service do not significantly impact salary differentiation,” said Caroline Piat.

Source: Defi Media