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The financial year of 2018-2019 is poised to be a year of robust growth for India Inc. This is because as per Randstad Employer Branding Research (REBR) 2018, more than 79% of the organizations forecast increased hiring. Underpinned by a dynamic pool of talented and skilled employees, the Indian employment market is becoming competitive with each passing year. This makes for an attractive compensation package a critical denominator for organizational growth. Salary is a great motivator as it affects the way organizations attract, acquire, retain, and engage with skilled professionals. This is reflected in the annual salary hike given to professionals with skills in Banking, IT, Operations, Consulting, Digital Marketing, Content, Analysis, Tech, R&D, Learning & Development, and other sectors, too. Forward-looking organizations must understand the changing face of India’s talent today and know how to strike the right balance between their recruitment strategies, hiring, and retention costs.

Underpinned by a steady influx of foreign direct investment (FDI) – which is driven by the Government of India’s ‘Make in India’ campaign, and Goods and Services Tax (GST) – the Indian economy is most likely to continue its bullish growth for years to come. The same fact is also corroborated by a recent report published by the World Bank which stated that the Indian economy is poised to grow at 7.3% in the FY 2018 and subsequently at 7.5% over the course of next three years, making it the fastest growing economy in the world. These statistics have also enabled India to surpass China – which is growing at a rate of 5.6%.

For creative and innovative firms, the time is ripe to enable a strong competitive advantage and they can do so by overhauling their existing salary structure to attract the best talent available – as this is the main driver of employee productivity as well as satisfaction and motivation.

India offers an array of job opportunities to professionals from all fields and different industry verticals. The national average recorded CTC stands at INR 13.23 lac per annum. The survey further revealed that Businesses in Kolkata offer the highest salaries to junior-level executives; Mumbai for mid-level professionals; and, Bengaluru for senior-level professionals.

The average recorded CTC for junior executives in Kolkata stands at INR 5.72 lac per annum, while the national average for the same stands at INR 5.22 lac per annum. Mumbai offers an average CTC of INR 10.48 lac per annum to middle-level executives, while the national average CTC for the same stands at INR 9.94 lac per annum. On the other hand, Bengaluru pays the highest to its senior-level employees where the average CTC is recorded at INR 28.08 lac per annum, while the national recorded average CTC stands at INR 25.95 lac per annum.

There is a trend of increasing salaries for various jobs in Pondicherry as well. We, at Randstad, provide the right blend of tech and touch to help you find the job of your dreams so that you can stay ahead of your competition.

Source: Randstad India Survey

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