These are the average corporate salaries in top Indian cities
- Bangalore, India’s IT capital, is the highest paying city in the country.
- Hyderabad took the second spot for junior level roles with CTC at ₹5 lakhs. But for mid and senior levels, Mumbai is the second highest paying city with ₹15.07 lakhs 33.95 lakhs, respectively.
- It has the highest average CTC at ₹5.27 lakh for junior levels (0-6 years), ₹16.45 lakh at mid level (6-15) and ₹35.45 lakh at senior level.
The city offers the highest pay for all three levels. Hyderabad took the second spot for junior level roles with CTC at ₹5 lakhs. But for mid and senior levels, Mumbai is the second highest paying city with ₹15.07 lakhs 33.95 lakhs, respectively.
The next best cities are Pune and NCR.
“Against the backdrop of the current economic growth scenario, this report comes as an eye opener for both companies and professionals on building their talent pools and competencies. A period of stasis is the best time to push pause, reset the priorities and build towards future proofing of the organization,”said Paul Dupuis, MD & CEO, Randstad India.
In May this year, government data showed that joblessness in the country was 6.1% of total labour force during 2017-18, the highest in 45 years.
IT is the highest paying industry in India
There are no surprises when it comes to the best paying industry which is IT. Juniors in the field are paid ₹4.96 lakhs per annum and seniors at ₹35.84 lakhs.
“The renewed demand for professionals with digital skills – cloud, product management, analytics, AI and automation – could be the major factors for the sector’s strong showing this year,” said the report.
There is a huge demand-supply gap between Artificial Intelligence and Machine Learning experts. As a result, there’s a cut throat competition for people in AI/ML.
“Talent with the ‘right-fit’ skills commands a significant premium over their peers and companies are not constrained by bell curves and averages when it comes to the salary structure for professionals with in-demand skills; evidenced by the findings of this report,” said Dupuis.
Professional services sector — that includes GST compliance specialists, accountants, management consultants and lawyers — ranked as the second highest paying sector for junior and senior levels, while topping the salaries for mid-level (₹15.3 lakhs) professionals.
Indian CEOs are having a tough time retaining AI, ML, and data science experts
India facing 'Great Slowdown', economy headed to ICU: Modi govt's 1st CEA Subramanian
Popular on BI
- Durjoy Datta tweets about Paytm UPI LITE making payments faster and easier, fellow author Ravinder Singh responds
- A former Twitter engineer said they watched colleagues 'drop like flies' from a virtual meeting during Elon Musk's mass layoffs
- A 'hole' 30 times Earth's size has spread across the sun, blasting solar winds that'll hit our planet by end of this week
- OnePlus Nord CE 3 Lite 5G and Nord Buds 2 to launch on April 4 – Here’s all you need to know
- Amazon Convertible Fest sale – Best deals on convertible ACs and refrigerators
- Govt intervention critical to remove green financing barriers, IPCC report stresses as we move towards 3.5°C warming
- BYJU's set to raise $250 million, at a lower valuation
- Piramal Realty inks deal with Jio-bp to install EV charging stations at its properties