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.
Although, 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.