Over the years, you might have noticed how the most lucrative job offers come from Tier 1 Cities or ‘Category X’ cities, namely, Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Kolkata, Mumbai, and Pune. If you belong to Tier 2 cities (Category Y) or Tier 3 cities (Category Z), you must have heard or seen your friends, relatives or seniors migrating to bigger cities in order to get a better job opportunity and a better pay. Well, if you have also been planning to shift to a Tier 1 city for a well-paid jobs, you must know those cities that have offer high salaries. A recent survey conducted by wisdomjobs, an end-to-end online recruitment solutions portal, measured the Employee Satisfaction on their Salary Structure among all tier 1 cities across all major sectors.
The city-wise salary structure satisfaction level showed these findings:
- The maximum and the lowest percentage of salary satisfaction were shown by both South Indian Cities. While Bangalore accounts for the highest level of salary-related satisfaction i.e., 63 per cent, Chennai accounts for the lowest salary-related satisfaction i.e., 46 per cent.
- The second city to provide better salary satisfaction is Pune (Maharashtra) at 57 per cent satisfaction.
- The third and the fourth city to provide average level of salary-satisfaction are Mumbai (Maharashtra) and Hyderabad (Andhra Pradesh/Telangana) with 54 per cent satisfaction level and 51 per cent satisfaction level, respectively.
- The nation capital, New Delhi, fares bad in this list with just 49 per cent salary-satisfaction level.
Non-monetary benefits – satisfaction level
The survey also took in consideration satisfaction related to non-monetary benefits such as maternity benefits, retirement benefits among others. Here is the level of satisfaction against varied non-monetary benefits provided by employers:
- Flexible working hours – 48 per cent satisfied
- Maternity & Paternity benefits – 30 per cent satisfied
- Retirement benefits – 28 per cent satisfied
Salary satisfaction level across industry sectors:
- Education sector: This sector reports 60 per cent employees being dissatisfied with their current salary structure.
- Banking & Finance Sector: Banking, financial services and insurance sector reported 53 per cent salary-structure dissatisfaction level.
- ITES sector: Despite being one of the most booming sectors, it accounts for 43 per cent dissatisfied employees.
- IT sector: Out of all the respondents from IT sector, 35 per cent showed dissatisfaction with their salary-structure.
- Telecom Sector: Half of the respondents from this sector showed dissatisfaction towards their current salary.
- Media & Entertainment Sector: 42 per cent employees weren’t satisfied with their salary structure.
- Healthcare sector: 50 per cent of the employees were satisfied with their level of income.
- Logistics sector: With 52 per cent respondents from this sector reporting dissatisfied salary, it was the third highest on salary-structure dissatisfaction level.
- Infrastructure level: 48 per cent employees showed unhappiness towards their current salary structure.
- Retail Sector: The salary-related dissatisfaction was recorded among 52 per cent employees.
Apart from measuring city-wise employee salary-satisfaction, these were other findings of the survey:
- 53 per cent of the respondent felt that the fixed component of their salary is more crucial to their income whereas 42 per cent felt that their variable income is more important to them.
- An overwhelming number of respondents, approximately, 80 per cent of the total surveyed people said that salary remains the foremost element of judging a job offer as well as the most important component to stick with their current employers.
- Approximately 70 per cent respondents shown dissatisfaction with their current salary structure while the remaining 30 percent felt that their salary does not correspond to the amount of work being handled by them.
- 46 per cent Tier2 employees weren’t content with their current salary structure whereas 64 per cent of Tier3 employees showed salary-related salary dissatisfaction.
- 58 per cent of Tier3 employees want an increase in their take-home income whereas 28 per cent said that their non-monetary benefits should be improved. In a stark comparison to Tier3, 44 per cent Tier2 employees wanted an increase in their non-monetary benefits whereas only 39 per cent wanted a hike in their ‘take-home’ salaries.
- 30 per cent Tier2 employees showed higher preference to the opportunity of working from home instead getting a hike in their salaries. 18 per cent Tier3 employees also wanted a work from home option.
- Among all the women respondents of the study, 60 per cent felt that both higher salaries and good non-monetary benefits are equal whereas only 30 per cent men felt the same.