FMCG industry pays the highest salaries in India: Randstad
Fast moving consumer goods (FMCG) companies are the most lucrative ones to work for in India, according to the findings of a survey by human resources consulting firm Randstad.
With an average annual cost-to-company (CTC) for talent across all levels and functions at Rs11.3 lakh, FMCG industry’s employees get the highest pay in India, according to the 2017 Salary Trends Study by Randstad.
According to the survey, power and IT sectors are the next big payers where employees across all levels and functions earn average annual salaries of Rs9.8 lakh and Rs9.3 lakh respectively. Pharma and healthcare, offering an average annual CTC of Rs8.8 lakh and telecom at Rs8.7 lakh take the fourth and fifth positions in the list as India’s most lucrative industries.
“A robust demand for experienced and qualified personnel in sales & marketing and supply chain management roles, coupled with close to 30% of jobs being posted in the 10 lakh+ category is being seen as a primary driver for the FMCG industry to emerge as the winner,” the report said.
The survey also reveals salary trends based on locations. Bengaluru is the highest payer with an average annual CTC of Rs14.6 lakh for talent across all levels and functions; Mumbai ranks second with Rs14.2 lakh followed by Hyderabad and NCR with an average annual CTC figure of Rs13.6 lakhs and Rs13.5 lakhs respectively. Chennai (Rs13.4 lakh), Pune (Rs13.2 lakh) and Kolkata (Rs11.4 lakh) were the other top payers in the list.
The Randstad Salary Trends Study 2017 is an analysis of 1,00,000 jobs across 20 industry verticals and 15 core functions.
“In a country like India where job loyalty is considerably low, salary becomes one of the most critical parameters that workforce takes into consideration while changing jobs. For employers too, it is an imperative to get the internal compensation structure right, which is primarily a function of various facets like capability, experience, location, job profile, industry of operation, etc.,” said Dr Moorthy K. Uppaluri, managing director and chief executive, Randstad India.
The survey identifies roles that are experiencing strong demand in the job market across industries and pay relatively higher remunerations for talent in the six to 10 years experience bracket when compared to other professionals in the same salary range. Core Java professionals top the list of these “Hot Jobs” with an average annual CTC of Rs18.06 lakh, followed by digital marketing professionals with Rs17.09 lakh and testing automation engineers with Rs14.67 lakh.