The garden city of Bengaluru, which topped the list of salary trends in 2017, continues to lead the pack as the highest paying city in the country, with an average annual cost to company (CTC) for talent across all levels and functions standing at about Rs 11 lakh, according to Randstad Insights, the research and analysis division of Randstad India.
The roll-out of GST saw a spike in demand for implementation and compliance specialists, thus making professional services the second highest paying sector in the country, with an average salary of a little over Rs 9 lakh. The sector largely comprises management consulting, strategy, accounting, audit and legal firms. FMCG came in third with an average CTC of Rs 9 lakh. The IT sector, offering an average annual CTC of around Rs 9 lakh and infrastructure, real estate & construction at R 9 lakh are fourth and fifth in the list.
Pune stands second at around Rs 10 lakh, followed by NCR 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 (a little under Rs 8 lakh) and Kolkata (around Rs 7 lakh) are the other three names in the list of Indian cities paying the highest average salaries for professionals.
The Randstad Insights Salary Trends Report 2018 compiles prevalent salary trends across industries, locations, functions and experience levels in the country, thus empowering India Inc. with critical insights that help redesign a market-appropriate pay structure that augur well for the organizational strategy while also reflecting broader market forces.