Mumbai: Good times for employees from the FMCG industry as they receive the highest pay in India. FMCG employees earn an average annual CTC for talent across all levels and functions at Rs 11.3 lakhs, according to the 2017 Salary Trends Study findings released by Randstad, one of the country’s leading HR service providers. Bangalore, the IT capital of India tops the chart as the highest paying city in the country, with an average annual CTC paid for talent across all levels and functions standing at Rs 14.6 lakhs.
Randstad report mentioned that a robust demand for experienced and qualified personnel in sales & marketing and supply chain management roles, coupled with close to 30% of jobs being posted in the 10 lakh+ category is being seen as a primary driver for the FMCG industry to emerge as the winner. This is followed by Power sector and the IT sector, where employees across all levels and functions earn average annual salaries at Rs 9.8 lakhs and Rs 9.3 lakhs, respectively. Pharma and Healthcare, offering an average annual CTC of Rs 8.8 lakhs and Telecom at Rs 8.7 lakhs take the fourth and fifth position in the list as India’s most lucrative industries, reveals the study.
In the city wise salary trends, Bangalore is the highest paying city in the country, with an average annual CTC paid for talent across all levels and functions standing at Rs 14.6 lakhs,. This is closely followed by Mumbai which stands at Rs 14.2 lakhs, Hyderabad and NCR with an average annual CTC figure of Rs 13.6 lakhs and Rs 13.5 lakhs, respectively. Chennai (Rs 13.4 lakhs), Pune (Rs 13.2 lakhs) and Kolkata (Rs 11.4 lakhs) are the next three names that got featured in the list of top Indian cities paying the highest average salaries for professionals.
Presenting the study insights, Dr. Moorthy K. Uppaluri, MD & CEO, Randstad India said, “In a country like India where job loyalty is considerably low, salary becomes one of the most critical parameters that workforce takes into consideration while changing jobs. For employers too, it is an imperative to get the internal compensation structure right, which is primarily a function of various facets like capability, experience, location, job profile, industry of operation etc.”
Today employers are cognizant of the fact that the right salary structure is one of the key strategies to attract, engage and retain top talent in the organization and hence it is important to closely analyze the prevalent salary trends and make course corrections wherever necessary. Our salary study findings empower them with key insights and data that help them streamline and simplify this process, thus ensuring equitable pay”, he added.
The study also lists down Hot Jobs for 2017- roles that are experiencing strong demand right now in the job market, across industries and pay relatively higher remunerations for talent in the 6-10 years experience bracket when compared to other professionals in the same salary range. Core Java professionals lead the pack with an average annual CTC at Rs 18.06 lakhs, followed by Digital Marketing professionals with a CTC of Rs 17.09 lakhs and Testing Automation Engineers at a CTC of Rs 14.67 lakhs.
The Randstad Salary Trends Study 2017 analyzed 1,00,000 jobs across 20 industry verticals and 15 core functions.