Bangalore: Professionals in Internet of Things (IoT)are ruling the job markets in terms of salary and career prospects. The salaries of IoT professionals in India are around 76% higher than that of IT professionals. The median salary of IoT professionals is INR 15.2 lakh compared to INR 8.65 lakh per annum in IT sector.
A recent study titled ‘IoT India Salary Study 2017’ carried out by IoT India Magazine, a part of Analytics India Magazine Pvt Ltd, in association with Jigsaw Academy suggests the demand for IoT candidates is surging. The median salary of IoT professionals for the year 2017 was found to be INR 15.2 lakh per annum across all experience levels and skill sets. IoT being a relatively new entrant, professionals in the area commanding higher salaries can be attributed to lack of readily available talent.
Interestingly, only 33% of IoT professionals have salaries under INR 6 lakh per annum as opposed to 58% in the IT sector. The study also highlights that 16% of IoT professionals in India earn in the salary bracket of INR 10-25 lakh per annum. This number for IT professionals is 17%.
The city-wise trend suggests that Delhi-NCR provides the highest salary in IoT at INR 17.3 lakh per annum, followed by Mumbai at INR 16.7 lakh per annum. The study also points that 44% of IoT professionals in Chennai earn less than INR 6 lakh per annum; followed by Pune, where around 39% professionals fall in the same bracket.
As for the experience level, almost 92% of freshers in the IoT field fall under the INR 6 lakh per annum salary bracket. A transition from each experience level bracket to a higher experience level can lead to an almost 50% jump in salary.
Salary trend by functional area in IoT domain indicates that a position in Application Programming pays an average of INR 11 lakh per annum, whereas a job in the Engineering Design and Systems Programming department pays INR 10.5 lakh and INR 8 lakh per annum respectively.
The study hints that IoT will account for over 10% of all data generated. With innovations in smart cities and in healthcare, IoT is likely to go mainstream in the coming future. According to the study, few of the job roles that will emerge in IoT are: Chief Internet of Things Officer, Robot Coordinator, Neural Implant Tech Expert and Ethics Officer, among others.
Sarita Digumarti, COO and Founder, Jigsaw Academy said, “I strongly believe that the IoT era is going to transform businesses and people everywhere, especially in India. The ability to link countless machines wirelessly, to enhance human interaction etc., IoT has opened limitless possibilities for ideas that will completely change how we live and work.”
“The IoT Salary Study provides a solid foundation to understand the state of the IoT job market in India, along with current job roles. It also equips readers with a sense of direction and growth in the rapidly expanding IoT field,” she added.
Bhasker Gupta, CEO and Founder, IoT India Magazine said, “One of the major contributions made by IoT has been in the form of career opportunities. New jobs such as Application Developer, IoT Product Manager and IoT Cloud Architect, among others, have become available in this sector.”
“To have a detailed understanding of the IoT job scenario in India, we conducted the IoT India Salary Study 2017 in association with Jigsaw Academy, which is a comprehensive sum of all the details that you would want to know as an IoT professional,” he added. The increasing demand for IoT professionals and companies extensively hiring in the IoT domain suggests an optimistic future for professionals looking to dive into this industry.