Banglore takes a lead in being the highest paid city in India and pharma and healthcare is the highest paying industry for talent in India, says a report.
Pune stands second at around Rs 10 lakh, followed by and Mumbai with an average annual CTC figure of a little under Rs 10 lakh and around Rs 9 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.
Paul Dupuis, MD & CEO Randstad India said, "Building a successful organization requires a number of key ingredients; a solid strategy, clear segmentation and go to market proposition, demand for the service or product and the ability to deliver".
Bangaluru 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.
The reason behind the space topping the salary chart is the increase in demand for specialist doctors and technology professionals with R&D skills. The sector largely comprises of Management Consulting, Strategy, Accounting, Audit and Legal firms.
FMCG, with an average salary of Rs 9.2 lakh is the third highest paying industry. The IT sector, offering an average annual CTC of INR 9.1 lakhs and Infrastructure, Real Estate & Construction at INR 9.0 lakhs have bagged the fourth and fifth position in the list as India's most lucrative industries for professionals. Second, a 51% increase in entry-level roles this year, which usually pay between Rs 4 lakh and Rs 6 lakh.
Specialist Doctors top the chart with an average annual CTC at INR 18.4 lakhs, followed by Solution Architects at a CTC of INR 15.1 lakhs, Product Engineering Specialists at INR 14.8 lakhs and Blockchain technology experts at a CTC of INR 14.6 lakhs.
Bengaluru was the top paying city in 2017 too but there was a significant drop in salaries from past year when the average CTC figures for all cities were upwards of Rs 13 lakh.
But there was a significant drop in salaries from a year ago, when the average CTC figures for all cities were upwards of Rs 13 lakh.
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.
For the report, Randstad Insights analyzed 1,00,000 jobs across 20 industry verticals and 15 functions.
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