NBFCs Lead 2027 Pay Increases at 10.1 Percent, Life Insurance at 8.4 Percent: Aon Survey
Aon's India salary survey projects a 10.1 percent average increase for NBFCs and 8.4 percent for life insurance in 2027. The all-industry average is 9.1 percent.
Non-banking financial companies (NBFCs) plan the highest pay increases among Indian industries in 2027. Aon's Annual Salary Increase and Turnover Survey for India 2026-27 projects an average increase of 10.1 percent for NBFCs next year. The NBFC increase was 9.6 percent in 2026.
Life insurance companies plan an average increase of 8.4 percent for 2027, up from 8.3 percent in 2026, according to the same survey.
Across all industries covered, Aon projects an average increase of 9.1 percent for 2027. That is close to the 9.0 percent awarded in 2026. Aon released the survey on 14 October 2026.
| Sector | 2026 increase | 2027 projected increase |
|---|---|---|
| NBFCs | 9.6% | 10.1% |
| Life insurance | 8.3% | 8.4% |
| All industries (average) | 9.0% | 9.1% |
What the numbers mean for BFSI professionals
These figures are averages across employers. They are not a promise for any one person. Pay still depends on the role, the employer's budget and individual performance.
Aon also reports overall employee turnover of 18 percent in 2026, up from 16.2 percent in 2025. Aon links the higher turnover to employers who balance retention with cost control.
When you compare job offers, check the fixed pay and the incentive separately. Many front-line roles in lending and insurance pay a fixed amount plus incentives. The incentive part changes with performance and targets.
Questions to ask before you accept an offer
- How much of the pay is fixed, and how much is incentive?
- When is the next salary review, and how is it linked to performance?
- Is there a joining bonus, and what happens to it if you leave within a year?
- What is the notice period, and what happens if you leave early?
How to read these projections
Survey projections are estimates made in advance. Actual increases can end higher or lower. Employers often decide their final budgets after their own reviews, so the number can differ from one company to the next.
A sector average also hides differences inside the sector. A large NBFC and a small one may offer very different increases. Use these figures as a starting point, then check with recruiters and current employees at the companies you are considering.
Frequently asked questions
What is the projected salary increment for NBFCs in 2027 according to Aon?
According to Aon's 33rd Annual Salary Increase and Turnover Survey, NBFCs are projected to offer an average salary increment of 10.1% in 2027, up from an actual 9.6% in 2026.
What salary increase can life insurance professionals expect in 2027?
Life insurance sector employees in India are projected to receive an average salary raise of 8.4% in 2027, compared to an actual average increase of 8.3% in 2026.
How much of a salary premium do AI and data science roles command in India's financial sector?
According to survey findings reported by ET CFO, employers are offering approximately a 10% salary premium for critical roles in AI, machine learning, and data science compared to 2025 levels.
Archana Jain
Archana Jain is the Founder and CEO of Finploy Technologies, a recruitment platform built exclusively for banking, financial services and insurance (BFSI) hiring in India and Singapore. She has led Finploy since 2020 and has been Chief Operating Officer of Deeesha Finance & Finploy Finance Employment since 2016. Her work focuses on bank and NBFC hiring: leadership roles, home loan and LAP sales, CASA and retail banking, credit and underwriting, collections and recovery, and relationship management, across 1,500+ locations in India. She reviews Finploy Insights articles before they are published.
