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Salary in India

India has a mix of traditional employment sectors and new era economy job opportunities. By traditional job sectors it not only mean agriculture, cottage industries and diary production, and industries and productions existed per-independence alone, but also include industrial production of all kinds, mining, production and distribution of goods and services for human consumption transportation, railway, education, government jobs and most professions of the service sectors. New generation jobs include all high tech jobs, information technology jobs, banking and insurance jobs that arisen post liberalization, call centre and outsourcing jobs, mobile telecommunication and tourism sector jobs.

The developments post liberalization has caused a salary revolution in India. With new jobs requiring high skills and techniques has taken salaries to new heights it became paramount to the traditional sectors to follow suit for survival. Higher salary scales demanded higher quality and quantity of production, raising the demand for higher skill levels from employees. New every employee in most sectors know how to use the computer and work more efficiently with the use of custom software.

Now the Indian employment sectors are facing global level competition and pulling socks to update its skills, production and salary standards.They have a dual challenge addressing the critical roles due to emerging business situations and attracting and retaining the best talent. Both these challenges are to do with the salary structure of the company.

 

Salary in Banking and financial sector

Job Category Experience education minimum salary (₹) per year maximum salary(₹) per year
Junior Sales 0 to 2 MBA 350000 5 lakh
Banking Operations 0 to 2 Graduation 350000 5 lakh
Corporate Banking 0 to 2 Finance Graduate 350000 5 lakh
HNI Banking 1 to 3 MBA 5 lakh 9 lakh
Risk Advisory 2 to 4 MBA (FINANCE) / CA / CFA 8 lakh 15 lakh
Compliance 2 to 4 Certified Professionals 5 lakh 10 lakh
Mergers & Acquisitions 2 to 4 MBA (FINANCE) / CA / CFA 8 lakh 15 lakh
Fund Management 2 to 4 MBA (FINANCE) / CA / CFA 8 lakh 15 lakh
Treasury Operations 2 to 4 Masters / MBA 5 lakh 10 lakh
Relationship Management 2 to 4 MBA 4 lakh 7 lakh
Training 2 to 4 Graduation 4 lakh 6 lakh
Human Resources 2 to 4 MBA 4 lakh 6 lakh
Loan 2 to 4 MBA 4 lakh 6 lakh
Sales 2 to 6 MBA 6 lakh 12 lakh
Banking Operations 2 to 6 Graduation 6 lakh 10 lakh
Corporate Banking 2 to 6 Finance Graduate 7 lakh 12 lakh
HNI Banking 4 to 8 MBA 6 lakh 12 lakh
Risk Advisory 5 to 9 MBA (FINANCE) / CA / CFA 10 lakh 18 lakh
Compliance 5 to 9 Certified Professionals 10 lakh 18 lakh
Mergers & Acquisitions 5 to 9 MBA (FINANCE) / CA / CFA 20 lakh 30 lakh
Fund Management 5 to 9 MBA (FINANCE) / CA / CFA 16 lakh 24 lakh
Treasury Operations 5 to 9 Masters / MBA 6 lakh 12 lakh
Relationship Management 5 to 9 MBA 8 lakh 12 lakh
Training 5 to 9 Graduation 8 lakh 12 lakh
Human Resources 5 to 9 MBA 8 lakh 12 lakh
Loan 5 to 9 MBA 8 lakh 12 lakh


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Salary in Consumer Retail Sector

In the booming retail sector, the jobs which are in high demand are supply/demand planners, product management, brand management and procurement. In India growing population and increasing consumption pattern are responsible for the strongly retail sector. Competition among these players ensures greater demand for brand managers and product managers. Pharma sector is also poaching these professionals. Let’s have a look at the salaries offered in the retail sector

job category experience education minimum salary (₹) per year maximum salary(₹) per year
Junior Area channel management 42040 MBA 5 lakh 10 lakh
Trade Marketing 42040 MBA 5 lakh 10 lakh
Production / Manufacturing 42068 B.Tech / B.E. 4.5 lakh 7 lakh
Marketing Communication/ Corporate 42068 MBA 7 lakh 15 lakh
Market Research 42068 BA /B.Com with MBA 6 lakh 10 lakh
Category Manager Packaging/ Gifting / Quality 42132 MBA 18 lakh 25 lakh
Human Resources 42289 MBA 12 lakh 20 lakh
Regional Channel Management 42228 MBA 18 lakh 25 lakh
Marketing 42132 MBA 15 lakh 18 lakh
Logistics 42163 MBA 17 lakh 20 lakh
Procurement 42195 MBA 15 lakh 20 lakh
Brand Management/ Product Management 42226 MBA 18 lakh 30 lakh
Demand / Supply Planning 42195 MBA 15 lakh 20 lakh
Key Accounts Management 42134 MBA 12 lakh 18 lakh
Process Engineering 42134 B.Tech / M.Tech 18 lakh 25 lakh
Research & Development 42197 B.Sc / B.Tech / M.Tech 15 lakh 20 lakh

Salary in OIL and GAS sector

job category experience education minimum salary (inr) per year maximum salary(inr) per year
Wire line Logging 42131 B.Tech / Diploma 8 lakh 12 lakh
Offshore Installation 42353 B.Tech / Diploma 35 lakh 55 lakh
Sales & Application 42068 B.Tech / M.Tech / M.Sc 16 lakh 28 lakh
Tech Support Real Time Operation 42068 B.Tech / M.Tech / M.Sc 5 lakh 9 lakh
Geophysicist 42136 M.Tech / M.Sc- Petrophysics / Physics 15 lakh 35 lakh
Mechanical / Electrical / Instrumentation / Control Room /Civil 42068 B.Tech / Diploma 5 lakh 12 lakh
Process Engineers 42104 BE / B. Tech (Chemical) 7 lakh 28 lakh

Normally, the engineers with B. Tech degree in mechanical, instrumentation and electrical engineering get up to Rs.28 Lacs, if they have an experience of less than 10 years, whilst engineers with more than 10 years, but less than 15 years of experience get up to Rs.37 or 38 Lacs.

An electrical engineer, with an experience of 18 to 25 years in transmission may get between Rs. 40 lakhs and Rs.75 lakh. Similar experience in quality, an engineer gets between Rs.18 lakhs and Rs.60 Lacs.

Salary in Information Technology

Information technology sector is the leading sector in India that affects stock markets. The salaries offered in IT sector in India are at par with the world’s best. Let’s have an idea of the salaries in this sector.

job category experience education minimum salary (₹) per year maximum salary(₹) per year
Telecommunications technologies 4 – 8 BE/B Tech 7 lakh to 9 lakh 14 to 16 lakh
Enterprise resource planning (SAP/Oracle apps/J.D. Edwards/PeopleSoft/salesforce/ BAAN) 4 – 8 BE/B Tech/graduation 5 lakh to 8 lakh 12 to 16 lakh
Software development 4 – 8 BE/B Tech/MCA 3 lakh to 8 lakh 8 to 16 lakh
Business intelligence/data warehousing 4 – 8 BE/B Tech/graduation 5 lakh to 9 lakh 11 to 17 lakh
Enterprise resource planning (SAP/Oracle apps/J.D. Edwards/PeopleSoft/Salesforce/ BAAN) 8 – 15 BE/B Tech/MBA 8 lakh to 14 lakh 18 to 25 lakh
Software development 8 – 15 BE/B Tech/graduation 9 lakh to 18 lakh 15 to 35 lakh
Enterprise resource planning (SAP/Oracle apps/J.D. Edwards/PeopleSoft/Salesforce/ BAAN) 15-20 BE/B Tech/MBA 20 lakh to 25 lakh 35 to 45 lakh

Engineering

Engineering is also a sector, which is experiencing huge growth in India. Because of urban growth, development of high-rise buildings, residential apartments, railroads, plants and machinery, and construction and development of infrastructural projects, engineering sector is witnessing unparallel growth and demand for engineers.

Average Salary in India

The average salaries earned in the key industries of India are based on a host of factors ranging from work experience to cost of living in respective cities and from degrees earned to skills etc. Let’s find out about the average salaries offered annually at the top industries of India.

What is The Average Salary in India?

Before delving into details of pay structures in top industries here is a glimpse of the earnings fetched by the most favored job profiles in India:

jobs annual average salaries
Software Engineer INR 352,751
SAP Consultant INR 594,931
Software Developer INR 317,768
Test and Quality Assurance Engineer (QA), Computer Software INR 304,229
Senior Software Engineer/ Programmer/Developer INR 584,067

Average Information Technology (IT) Salary in India

One of the pillars of Indian economy the Information Technology industry has scaled great heights in recent times by growing at an average rate of 30% each year for the last decade. The infrastructural milestones achieved in the recent years especially in cities like Delhi, Gurgaon, Mumbai, Bangalore have attracted the country’s youth in a major way and continues to do the same. Let us see how the industry pays:

job category annual average salaries
Project Manager INR 1,064,882
SAP Consultant INR 619,134
Senior Software Engineer INR 588,228
Software Developer INR 324,088
Software Engineer INR 342,744

Average Salary in Hospital Industry

The reason why we couldn’t do away with providing the average salaries offered in the Healthcare industry is because it is pitched at around 17 billion dollars at present and is estimated to grow at the rate of 13% in the coming years. With the New Year round the corner let’s see what you can expect to earn from significant profiles here:

job category annual average salaries
Internal medicine Physician or Doctor INR 650,000
Staff Nurse INR 122,084
Registered Nurse INR 139,983
Hospital Administrator INR 300,000
Orthopedic Surgeon INR 610,419
Physiotherapist INR 123,851
General Practice Physician or Doctor INR 372,115

Average Salary in Retail Industry

As per an industrial body by the year 2020 the retail industry in India estimated to double its growth reaching a whopping 1.3 trillion dollars, but only with room for overseas investment. The present average salaries stand like this:

job category annual average salaries
Project Manager INR 1,064,882
SAP Consultant INR 619,134
Senior Software Engineer INR 588,228
Software Developer INR 324,088
Software Engineer INR 342,744

Average Salary in Airlines or Aviation Industry

The Airline industry has managed to provide salaries like the ones listed below in the wake of serious economic issues faced by Aviator giant Kingfisher Airlines:

job category annual average salaries
Project Manager INR 1,064,882
SAP Consultant INR 619,134
Senior Software Engineer INR 588,228
Software Developer INR 324,088
Software Engineer INR 342,744

Average Salary in Banking Industry

job category annual average salaries
Branch manager, Banking INR 598,651
Operations Manager INR 610,419
Software Engineer INR 397,687
Assistant Branch Manager Banking INR 362,056
Business Analyst INR 557,817

Average Salary in Hotel Management

job category annual average salaries
Hotel Manager INR 414,000
General Manager, Hotel INR 1,800,000
Front Desk Receptionist INR 111,000
Food and Beverage Manager INR 420,000
Food and Beverage Supervisor INR 270,000
General Manager, Restaurant INR 410,000

Global scenario

A relationship manager in personal or corporate banking draws from $32,000 to $105,000 in the US. Salary of a senior asset manager or sales account manager is around $130,000. The salary for similar profile in UK was $40,000 to $150,000. The salary in Abu Dhabi and Dubai in UAE was from 10,000 AED to 19,000 AED per month.

Conclusion

This indicates that salaries are higher in the developed countries as compared to India, but the cost of living is also very high there. So, we can safely say that though companies in India are still not offering as high as in US, UK or UAE, you can enjoy the same lifestyle here in India, as cost of living and taxes( both direct and indirect) are also very high in those countries.

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*Salaries are subject to change with time and may vary with company policies, general economic scenario and other factors mentioned above

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