As a result of the economic liberalization policies of the government, India has seen a significant growth in the employment sector. Many new industries, namely the outsourcing industries, have emerged in India ensuring more job opportunities for local youth.
According to a study conducted by a prominent online job portal and an eminent HR consultancy firm on Indian salary and employment scenario, the Indian job market with salary is likely to expand in 2014. Some of the findings of the study that shows robust trends of the job market are as follows:
- The top job creating sectors will be pharmaceuticals, real estate, construction, healthcare and hospitality, IT and ITES sectors.
According to the study conducted by Ma Foi Randstad, which covered 650 companies in 13 different sectors, total job creation is expected to touch the milestone of 2 million in 2013.
The Naukri Job Speak index, which measures new job creations in the market, is also showing an upward trend.
The top cities which are likely to experience an employment growth rate of 18-20 per cent in 2013 are Pune, Kolkata and Chennai.
Job creation in the banking and finance sector will be slow but the trends will remain steady.
High Salary Jobs in India
Salary in Chartered Accountancy:
Qualified chartered accountants are always in demand by business houses. Irrespective of their size, businesses will always need the services of CAs and hence, it remains a rewarding career for young professionals. They can also set up their independent firms. Certified members of Institute of Chartered Accountants of India (ICAI) have ample scope to shine in different fields namely banking, tax management, cost accounting, consultancy and auditing. The reason why it features at the top of the illustrious list is because the kind of respect it commands and, needless to mention, the remuneration attached to it. In a reputed company you can earn something around INR 5 –INR 7 lakhs per annum. With growing number of years the same can touch around 18 lakh per annum.
Salary of Indian Administrative Officers:
One of the most respected job profiles and one has to make an attempt to crack three of the most crucial stages to get through. Those three stages are- prelims, main and interview.
Salary of Financial Advisors and Financial Analysts:
Owing to the unpredictable trends in economy, financial analysts in India have over the years generated considerable demand in the market. In fact around the year 2010 they emerged as one of the top 10 most sought after careers in India according to learnhub.com. With average annual salaries of INR 179,072 - INR 989,890, a career in financial analysis is definitely a great profile one can ever have.
Salary of Managers and MBAs:
The demand for skilled and experienced managers is always on a rise. The increased demand has also led to an increase in the number of business schools in India. The fact that most of the aspirants are recruited from campuses themselves have contributed towards the popularity of these jobs. Freshers with a PGDM or MBA degree on an average can earn around INR 6- INR 10 lakhs per year with variations based on skills, work experience, industry, cost of living etc. The IIMs remain the primary target for the top companies to recruit aspiring managers.
Salary in Modeling and Acting:
The media and entertainment industry, besides the fashion industry in India is growing at an exponential rate with every passing year. With a sea of opportunities to make your mark as actors or models in ramp shows, ads, television serials, short films, films, billboards, fashion magazines etc. Today’s youngsters are raring to make a mark in the world of glitz and glamor. In TV shows experienced actors can charge something like INR 10,000- INR 2, 00, 000 per episode on an average, while starters can pocket around INR 2,000 – 10,000 per episode. Films on the other hand promise better remunerations depending on the stature of actor and the industry. Pay packets are equally impressive in the modeling industry as well with famous names charging up to INR 50,000 per assignment as well. Lately with the blurring of strict demarcations between industries where actors are easily navigating into the modeling world (ramp shows and endorsements) and vice versa, the scope to earn more is greater.
Salary in IT and Software Sectors:
Globalization has seen the birth of outsourcing industry in India and it is currently ruling the Indian job market creating thousands of jobs every year. The IT sector comprises both software and IT enabled services. Factors like substantial availability of English literate graduates and cost effective environment have encouraged the outsourcing industry to flourish in the south Asian country. Some of the most sought after careers in the IT sector are of software developer, software engineer, Quality Assurance (QA) engineer etc. Depending upon their profile and company, software professionals can expect a pay package of INR 7 to INR 8 lakhs annually. The salary can even go up to INR 1 lakh per month as well.
Salary in Healthcare:
Healthcare is always considered as one of the most sought after careers in India and it is also among the highest paying professions. Also it is one of the fastest evolving sectors in India, with an estimated figure of US 150 million dollars in 2017. The earnings of employed doctors are pegged at INR 4- INR 6 lakhs per year, while those involved in private practice can earn differently. Regular medical supervision has become a need for most of us today with growing complexities in our lives. Psychologists, counselors, orthopedic surgeons, dentists, gynecologists have the scope to earn the best, while nurses are also in for decent payments as well.
Salary in Defense:
The security afforded by government jobs is one of the main reasons behind their popularity in India. However, being a part of the Indian Defense is a different ballgame altogether. The pride in sacrificing your life for your nation governs your choice here and every year there has been thousands of Indians bracing this challenge.
Salary of Consultants:
These individuals are in great demand in various industries starting from Information Technology, Financial Services, banking, Software etc.
Salary in Aviation:
Recently Indian aviation industry has witnessed exponential growth with the introduction of budget airlines. Also many international airlines have introduced their flights from India, which has opened wide range of career options for young professionals. Remuneration in aviation industry can range between INR 7,000,000 and INR 9,500,000 depending upon the job profile.
At entry level pilots and flight engineers can earn between INR 4,000,000 and INR 5,000,000. Stewardesses and stewards can earn an annual salary of INR 400,000 to 600,000. Salary for ground traffic controllers ranges between INR 500,000 and INR 600,000.
Salary in Oil and Natural Gas Industry
Indian oil industry has undergone severe modernization. It is currently the highest profit maker of the country. Hence, the industry offers great career options to aspirants. Professionals working in this sector are also one of the highest salary earners. At the entry-level one can expect a pay package of INR 350,000 to 400,000 lakhs per annum along with perks and added benefits, which can easily add up to INR 120,000.
Salary of SAP Consultants:
As businesses are becoming more technically dependent SAP and ERP professionals are experiencing very high demand. To become a SAP professional one needs to earn a certificate in managing the software. Qualified ERP managers and SAP professionals can earn between INR 6 lakhs to INR 12 lakhs depending upon their designation and experience.
Salary Growth in Law:
The changing economic scenario of the country has also initiated the demand for legal professionals at different segments of the society. Currently law graduates experience high demand for corporate and patent law experts along with other categories of law. For qualified legal professionals salary is not a constraint. To become successful in this profession one needs to be hardworking and possess detailed understanding of national and international laws.
The aviation and hospitality industries hold the promise of a great future for individuals--- the reason why they attract young minds so easily. High salaries, excellent perks and global exposure are reckoned as instant allurements.