Given the current salary statistics across various industries and cities, one cannot say that Indians are not paid enough! And contrary to the popular belief, even non-IIT and non-IIM graduates get a good salary, certainly better than your imagination. New fields such as digital marketing has shown a tremendous growth in employing the best of their industry and even it promises to grow further in a few years. Well, it is true that not every sector offers a handsome package but knowing which ones offer the best makes all the difference in the world! If you are at the stage of choosing a career option then, it is imperative for you to go through this article to know which industry/city can pay you the most. As per the Salary Trends Study released by Randstad- the Netherlands-based human resource consulting firm, the hot jobs of 2017 will be- Core Java developers, digital marketers, and testing automation engineers. Across various industries, these three professionals within the experience of 6 to 10 years would demand the higher remunerations than those who have the similar years of experience in other industries.
Top ten job profiles for 2017-18 have been ranked here on the basis of their average annual package (all figures are in INR).
Rank 1: Core Java professionals
Average annual CTC: 06 lakh
Rank 2: Digital marketers
Average annual CTC: 09 lakh
Rank 3: Testing Automation Engineers
Average annual CTC: 14.67 lakh
Rank 4: Axapta Consultant
Average annual CTC: 52 lakh
Rank 5: Hadoop & Big Data Professionals
Average annual CTC: 62 lakh
Rank 6: Product Engineering Specialists
Average annual CTC: 38 lakh
Rank 7: Android Engineers
Average annual CTC: 01 lakh
Rank 8: Finance Controller
Average annual CTC: 9.64 lakh
Rank 9: Solution Architect
Average annual CTC: 8.95 lakh
Rank 10: R&D analyst- API (Pharma)
Average annual CTC: 8.54 lakh
City-Wise Salary Trends
Bengaluru, IT Capital of India, pays the highest annual package across all fields and functions with the average yearly salary at Rs 14.6 lakh. Mumbai stands at the second spot among the highest paying Indian cities with its average yearly salary at 14.2 lakh. The third rank is taken by Hyderabad and Delhi-NCR with an attractive average yearly package of Rs 13.6 lakh. Other cities mentioned in the study were Chennai (Rs 13.4 lakh), Pune (Rs 13.2 lakh), and Kolkata (Rs 11.4 lakh).
Highest Paying Industries
Randstad also revealed the top Indian paymasters; FMCG industry topped the chart by paying the highest average annual CTC that stands at Rs 11.3 lakh. Power and IT sectors were ranked second and third with their average annual CTC being Rs 9.8 lakh and Rs. 9.3 lakh, respectively. With the average annual CTC of Rs 8.8 lakh and telecom at Rs 8.7 lakh, Pharma sector and Healthcare became the fourth and fifth industries as the most lucrative sectors of Indian job market. The Randstad study reported that close to 30 percent of FMCG jobs are posted in the 10-lakh and above category, which makes FMCG sector top the charts among the highest paying sectors of India 2017.
Highest Paying Industry by experience level
E-commerce industry stands at the first position with offering an average annual package of Rs. 34 lakh to senior-level employees with an experience of more than 15 years. Their counterparts in IT and ITeS sector get 33.7 lakh and 31.6 lakh respectively, making them the highest second and third paying Industry by experience level. The E-commerce mid-level employees with an experience between six to fifteen years take home an average of Rs. 13 lakh annually. The personnel working on the same level in IT and Telecom withdraws an average annual package of Rs. 11.1 lakh and Rs. 10.9 lakh, respectively.
Pharma and healthcare pays the highest salary when it comes to junior level talent. Those with work experience between .06 months to 6 years are rewarded with an average package of Rs. 7 lakh by this sector. IT and power stood at the second and third position with an annual offering of Rs. 6.5 lakh and Rs. 5.5 lakh, respectively to their junior level employees.
Mr. Moorthy K Uppaluri, MD & CEO of Randstad India, said, “In a country like India where job loyalty is considerably low, salary becomes one of the most critical parameters that the workforce takes into consideration while changing jobs. For employers too, it is imperative to get the internal compensation structure right, which is primarily a function of various facets like capability, experience, location, job profile, and industry of operation.”