The port city, Visakhapatnam is the largest city and commercial hub of Andhra Pradesh. The city is majorly contributing in the economic development of Andhra Pradesh. The city is centre for the many major economic activities of Andhra Pradesh.
The city is well known for the fast growing city in the world. Major sectors contributing to the GSDP (Gross State Domestic Product) are Industrial, Fishing, IT, Pharma, Export & Imports by Sea trade etc. There are many Industrial corridors and Special Economic Zones. Some of them are VSEZ, Adani Ports and Special Economic Zone Limited (APSEZ), APIIC, Aganampudi Industrial Park, Visakha Dairy, JNPC, Brandix Apparel City etc.
The city is also have well flourished IT Sector. Government had created many IT special economic zones. This led many IT giants to establish their unit in Visakhapatnam. Shipyard and Ports in the city to built up the heavy Industries like Visakhapatnam Export, GAIL, HPCL, BHPV, Hindustan Zinc, Dredging Corporation of India, Coromandel Fertilizers, RINL and LG Polymers, Jindal Stainless Steels, Synergies Castings, Rain Calcining Limited, Reliance, Brandix, Essar Pellet Plant, Andhra (Cements, Petrochemicals and Ferro Alloys) Ltd. etc.
The city is having huge potential for growth. In fact, city is successful in development and providing enough opportunities of growth.
Salaries of Professionals and others
Operation Managers and Assistance Operation Managers are enjoying high salaries. Assistant Operations Managers (with experience of 0-2 year) are getting average annual pay of Rs 3.8 lakh. Software Developer (with experience of 0-2 year) are also paid the thicker salary packages. They are getting average annual package of Rs 3 lakh. Mechanical Engineers and Electrical Engineers (with experience of 0-2 year) are getting the average annual package of Rs. 2.7 lakh each.
MBA degree holders are remunerated well in Visakhapatnam. See the salaries of other degree holders in the table given below
|Bachelor's Degree||Rs 1 00 000 – Rs 7 80 000|
|MBA||Rs 150 000 – Rs 24 00 000|
|MBA HR||Rs 160 000 – Rs 2 55 000|
|BEng Civil||Rs 1 80 000 – Rs 10 00 000|
|BTech Mechanical||Rs 3 50 000 – Rs 5 50 000|
|MBA Finance||Rs 2 28 000 – Rs 13 50 000|
|BTech IT||Rs 81 000 – Rs 470 000|
Salaries in Accordance with Industries
Salaries in Visakhapatnam’s Finance Industry is pretty good to attract the smart workforce. Among them, Branch managers and other high ranked managers are enjoying the high salary packages. Equity managers are having high paid professions than other professions. You can compare the salaries of Professionals in the given Chart.
If we talk about the Education Sector, the following graph tells you about the salaries in this sector.