Indian men earn 25% more than women: Monster Salary Index
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New Delhi: Women in India earn 25% less than men, proving that gender continues to be a significant parameter in determining salaries in India, according to the Monster Salary Index (MSI) on gender for 2016. While men earned a median gross hourly salary of Rs345.8, women earned Rs259.8 in 2016. The gap has narrowed by two percentage points from 27.2% in 2015 and is closer to the 24.1% in 2014. About 68.5% women at Indian workplaces also feel that gender parity is still a concern and the management needs to “walk the talk”.
Analyzing the employment intensive sectors, the index derives that the average gender pay gap in the manufacturing sector stood at 29.9%. This is an improvement of 5 percentage points from 2015—the highest in India. This was followed by a 25.8% pay gap in the IT sector. The gender pay gap in the banking, financial services and insurance (BFSI) sector was at 21.5%, which is still below the general gender pay gap in India (25%). In education and research sector, the average gender pay gap was at 14.7%.
Here is a sectorial overview:
Information and Communication Technology Services
• The average gender pay gap of 38.2% is one of the widest observed in this report. Women earn Rs142.5 less per hour than men. This means that men gain another 38.2% more of their salary.
• Salaries for both, men and women, decreased in 2015 and then rose above the 2014 pay levels in 2016.
• Absolute decreases and increases have been stronger for female employees.
Financial Services, Banking and Insurance
• The gender pay gap in the financial services, banking and insurance sector amounts to 21.5%.
• This is slightly under the general gender pay gap in India (25%). On average, men earn an hourly median wage of Rs346.4 and women Rs272.
• The comparison of the three years reveals that the wages for both genders experienced only little changes from 2014 to 2015.
•In 2016, however, wages rose by Rs144.3 (+45.4%) for male employees and by Rs79.5 (+29.8%) for female employees. Therefore, while the gender pay gap shrank slightly from 2014 to 2015, it grew again in 2016 to 25.0%.
Education and Research
• In the education and research sector, the gender pay gap amounts to 14.7% on average. It is nearly 10 percentage points below the overall level of 25%
• Hourly median wages for men have risen by 7.0% from Rs190.5 to Rs203.8 between 2014 and 2016
• Women also gained more in 2016 than 2014 as much as Rs50.5 (32.8%). The gender pay gap increased again from 19.2% and 13.1% in 2014 and 2015, respectively, to -3.4% in 2016
Healthcare, Caring services, and Social Work
• On average, a 22.6% gender gap exists in the healthcare, caring services, and social work sector. Male employees earned Rs242.4, female employees Rs187.6 per hour (-Rs 54.8)
• The gender pay gap was smallest in 2015 with only Rs8.3 (3.6%) making wages nearly equal. In 2016, however, the gap increased significantly to Rs103.3 (39.9%).
Construction and Technical Consultancy
• The median gross hourly wages were Rs274.2 in 2014, Rs283.4 in 2015 and Rs288.7 in 2016 making them the third highest wages paid in India in 2016.
• On average, however, men earned Rs52.2 more than women in this sector. Thus, there is a gender pay gap of 18.1%.
• Men witnessed a minor wage increase of Rs6.4 (2014-2015) and a major increase of Rs18.3 (2015-2016).
Legal and Market Consultancy and Business Activities
• On average, the gender pay gap in the legal and market consultancy and business activities sector is 27.5% (Rs73.9) per hour. Women earn Rs195.0, men Rs268.9.
• Wages for male employees seem to stabilize at Rs259.8 after a drop of Rs6.4 in 2015. Women’s wages in the sector decreased in 2015.
• The gender pay gap seems to be growing as in 2015 it was 27.9% but rose significantly to 42.4 in 2016.
Transport, Logistics and Communications
• In the transport, logistics and communications sector earn similar wages on average. Women remain underpaid by 5.2%.
• Wages of men went up after a drop in 2015 to reach Rs264.4 in 2016. Those for female employees increased in 2015, but then decreased more than 8% to stay at Rs244.1. The gender pay gap in 2016 is around Rs20 (7.7%).