India Keeps Hiring as Global Markets Slow: Michael Page India Salary Report-26
Domestic hiring replaces global pullback as GCCs and leadership roles drive demand
Delhi, India – February 6th, 2026: As several global markets adopt a cautious stance on hiring, India continues to demonstrate resilience and momentum, according to the Salary Guide 2026 released by Michael Page India. The guide offers an overview of compensation trends, hiring sentiment, and workforce shifts across key sectors of the Indian economy. The guide points to a market marked by resilience and steady momentum, supported by sustained infrastructure investment, strong domestic demand, and growing confidence among Indian enterprises.
A defining driver of this resilience is the increasing role of domestic organisations in driving employment growth. What was once largely powered by multinational hiring is now being fuelled by Indian companies expanding scale, capability, and leadership depth, reflecting a more mature and self-assured business environment.
After several years of accelerated growth, salary movements have stabilised, indicating a more balanced and sustainable pace across the market. General annual increments across industries are expected to stabilise between 8 to 12%, while professionals with niche skills and leadership capabilities continue to command premium compensation increases of up to 30% when changing jobs.
Demand remains strong for professionals with niche technical expertise and leadership capabilities, particularly in functions where skill depth continues to outpace supply. Leadership roles such as Chief Financial Officers, Chief Technology Officers, Heads of Engineering, and senior transformation leaders continue to feature among the highest-paying positions across sectors.
Global Capability Centres (GCCs) emerge as a key focus area in the 2026 guide and are featured as a dedicated section for the first time. Included as a dedicated section for the first time, GCCs have evolved beyond traditional shared services to become strategic hubs for innovation, advanced analytics, and product development. Their expansion reinforces India’s position as a preferred destination for high-value global roles and complex capability building.
Commenting on the findings, Nilay Khandelwal, Senior Managing Director, Michael Page India and Singapore, said, “The Indian market in 2026 reflects a clear shift towards intent and capability-led growth. Organisations are hiring with sharper focus, prioritising specialised skills, leadership depth, and long-term value creation. The rise of Global Capability Centres underscores India’s evolution from a cost-driven talent destination to a strategic hub for innovation, analytics, and complex global roles.”
While certain sectors are adopting a measured approach amid global uncertainty, India’s robust local consumption and expanding domestic enterprises continue to underpin confidence and hiring activity. Increasingly, professionals are choosing to build long-term careers in India, supported by greater access to leadership opportunities and evolving organisational cultures that value agility, capability, and growth. More companies are also turning to contract workers in technology to meet project needs in software, data, and digital design.
The guide underscores that organisations investing in purposeful workforce planning, talent development, and a compelling employer value proposition will be best positioned to compete in a changing market. Similarly, professionals who prioritise upskilling and innovation are expected to play a defining role in shaping the next phase of India’s growth.
Together, these trends point to a market defined by opportunity, adaptability, and enduring strength as India moves into 2026 with measured optimism.
About Michael Page India
Michael Page is a leading global recruitment firm specialising in permanent, contract, and temporary recruitment. With over 40 years of experience, Michael Page operates in 37 countries worldwide and has a strong presence in India. Michael Page launched its India business in 2011 and currently has over 200+ specialist recruiters working on mid to senior level roles in 11 disciplines across offices in Mumbai, Delhi NCR and Bengaluru.
The clients in India range from large multinationals and Indian conglomerates to small and medium sized companies across Legal, Digital & Analytics, Engineering & Manufacturing, Finance & Accounting, Financial Services, Healthcare & Life Sciences, Human Resources, Procurement & Supply Chain, Property & Construction, Sales & Marketing and Technology.
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