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MSI Report: IT, Highest Paying Sector in India

MSI Report IT, Highest Paying Sector in India

In accordance with the Monster Salary Index (MSI) report, Information Technology sector in India is the highest paying sector with a median gross hourly salary of Rs 346.42. On the other hand, Indian manufacturing sector stood at last as it pays the least at Rs 254.04.

  • IT sector has been followed by Banking, financial services and insurance (BFSI) sector with a median salary of 300.23.

MSI Report IT, Highest Paying Sector in IndiaAlthough, IT and BFSI are leading the charts but surprisingly 50% of their employees are least satisfied with their salaries.

Key Highlights of Report:

  • Manufacturing sector pays 9% lesser than the median salary for the entire Indian economy taken together (Rs 279.7/hr.) while foreign owned manufacturing companies pay double of what Indian manufacturing firms pay their workers.
  • BFSI sector higher remuneration reflects the high level education of workers with 16-17 years of schooling.
  • BFSI space, small companies pay an hourly salary of 197/hour while large firms pay an hourly average salary of Rs. 324/hour.
  • Bonuses are more common in the IT sector than BFSI and manufacturing.

About Monster Salary Index:
It is a joint initiative of employment websites Monster India & Paycheck.in with IIM-A as research partner.

  • It is based on the salary of millions of profiles across different industry verticals, functions and roles.
  • The index offers comprehensive information to evaluate your worth in the job market.