Bengaluru Highest Paying City, IT Highest Paying Industry In India: Report
Professionals from information technology industry command the highest salaries, while Bengaluru has retained the tag as the highest paying city in the country, a report said on Thursday.
According to Randstad Insights Salary Trends Report 2019, the average annual cost to company in Bengaluru for talent across junior level stood at Rs 5.27 lakh, Rs 16.45 lakh for mid-level and Rs 35.45 lakh for senior level.
Bengaluru had topped the list in 2017 and 2018 Salary Trends report as well.
Hyderabad (Rs 5 lakh) and Mumbai (Rs 4.59 lakh) took the second and third spot for junior level roles, Mumbai (Rs 15.07 lakh) and the National Capital Region (Rs 14.5 lakh) for mid-level roles and Mumbai (Rs 33.95 lakh) and Pune (Rs 32.68 lakh) for senior roles respectively, the report noted.
The report also revealed that professionals from IT industry command the highest average annual CTCs at junior level (Rs 4.96 lakh) and senior level (Rs 35.84 lakh).
Digital Marketers emerged as the highest paid functional role for senior professionals, with an average annual CTC of Rs 35.65 lakh.
The renewed demand for professionals with digital skills -- cloud, product management, analytics, artificial intelligence and automation -- could be the major factors for the sector's strong showing this year, the report said.
With demand for Goods and Services Tax compliance specialists, accountants, management consultants and lawyers on the rise, professional services sector ranked as the second highest paying sector for junior and senior levels.
The report also highlighted the 'Hot Jobs for 2019' that showcased roles that are in strong demand across industries, where talent in 6-10 years experience bracket are paid relatively higher remuneration as compared to other professionals in the same salary range.
Compliance Specialists top the chart with an average annual CTC at Rs 31.09 lakh, followed by Python Specialists with a CTC of Rs 20.24 lakh, Hadoop Specialists at Rs 19.01 lakh and Specialist Doctors with a CTC of Rs 18.01 lakh.
"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," Randstad India Managing Director and Chief Executive Officer Paul Dupuis said.
The Randstad Insights Salary Trends Report 2019 analysed 1,00,000 jobs across 15 industry verticals and functions, spread across eight major cities.