Only 29% of Indian employees are satisfied with their current salaries, while a large majority plan to seek pay hikes over the next year amid rising living costs and economic pressures, according to a survey by the Association of Chartered Certified Accountants (ACCA).
The report highlighted that cost-of-living concerns remain one of the biggest workplace issues globally in 2026 and rank as the second-largest concern among Indian employees after fears of jobs being replaced by technology.
According to the survey, 81% of respondents in India intend to ask their employers for a salary increase over the next 12 months. This marks a sharp rise from 67% in 2025 and is significantly above the global average of 62%.
The findings point to growing pressure on employers as inflation and higher household expenses continue to strain personal finances. The survey noted that salary satisfaction levels in India are lower than the global average, with only 29% of Indian respondents satisfied with their current pay compared with 36% worldwide.
Millennials emerged as the most aggressive in seeking raises, with 90% planning to ask for higher salaries in the coming year. This compares with 77% of Gen Z employees and 75% of Gen X workers.
Indian employees are also expecting larger pay increases than their global peers. Around 68% of respondents in India expect salary hikes of more than 10%, compared with 37% globally. Among those expecting double-digit raises, Gen X employees recorded the highest expectations at 76%, followed by Gen Z at 60% and Millennials at 55%.
The report said compensation remains the most important factor for employees, especially younger professionals focused on improving take-home pay. However, mid-career professionals are increasingly placing equal importance on meaningful work and career satisfaction.
ACCA said employers are now facing mounting pressure to balance rising wage expectations with profitability and employee retention strategies.