Bengaluru emerged as the highest paying city in India with the average annual cost to company (CTC) for all talents of Rs 10.8 lakh per annum, states a Randstad Insights report.
According to Randstad Insights, the research and analysis division of Randstad India report 2018, Pune stood second after Bengaluru with annual CTC of Rs 10.3 lakh. Next in the line were NCR and Mumbai at Rs 9.9 lakh and Rs 9.2 lakh respectively. Chennai (Rs 8 lakh), Hyderabad (Rs 7.9 lakh) and Kolkata (Rs 7.2 lakh) also featured on the list of Indian cities paying the highest average salaries for professionals.
Pharma and healthcare industry stood out as the most paying industry for Indians with an average annual CTC of 9.6 lakh across all levels, says the report. Professional services were the second highest paying across the country with Rs 9.4 lakh CTC, followed by Fast-Moving Consumer Goods (FMCG) with avearge CTC of Rs 9.2 lakh. The IT sector (Rs 9.1 lakh) and infrastructure, real estate and construction (Rs 9.1 lakh) took the fourth and fifth position respectively, in the list of India’ most lucrative industries .
The report also mentions that people with 6-10 years of experience bracket are paid higher salaries. Doctors with specializations top this list with approximate annual CTC of Rs 18.4 lakh, followed by solution architects (Rs 15.1 lakh), product engineering specialists with Rs 14.8 lakh CTC and blockchain technology experts at Rs 14.6 lakh CTC.
“A strong salary structure that strikes a perfect balance between internal and external pay equity is an imperative today for the organisations as it’s often the key to bring top talent on board and keep them motivated,” Randstad India MD & CEO Paul Dupuis was quoted as saying. Randstad Insights examined 1,00,000 jobs in 20 industry verticals and 15 functions.