Bengaluru is the best paying city in India while information technology is the highest paying industry in the country, according to Randstad Insights Salary Trends Report 2019 released on Thursday. The city has topped the list for the third time in a row. It was at number one spot in terms of cost to company (CTC) trends in 2017 and 2018 as well.
According to the report, in Bengaluru, the average annual CTC for talent across junior level job profiles stood at Rs 5.27 lakh, whereas, it was Rs 16.45 lakh for mid-level and Rs 35.45 lakh for senior-level.
Hyderabad has bagged the number two position at Rs 5 lakh average annual CTC for junior level roles in the Salary Trends report. Mumbai came a distant third at Rs 4.59 lakh. Meanwhile, Mumbai (Rs 15.07 lakh) and National Capital Region (NCR) (Rs 14.5 lakh) took the second and third spot for mid-level jobs. Whilst, Mumbai (Rs 33.95 lakh) and Pune (Rs 32.68 lakh) stood second and third for senior roles respectively, the report as cited by the PTI added.
"Against the backdrop of the current economic growth scenario, this report comes as an eye-opener for both companies and professionals on building their talent pools and competencies. A period of stasis is the best time to push pause, reset the priorities and build towards future-proofing of the organisation," Paul Dupuis, MD & CEO, Randstad India said while presenting the details of the report.
"Talent with the 'right-fit' skills commands a significant premium over their peers and companies are not constrained by bell curves and averages when it comes to the salary structure for professionals with in-demand skills; evidenced by the findings of this report," he added.
The report also revealed that professionals from IT industry command the highest average annual CTCs at junior level (Rs 4.96 lakh) and senior-level (Rs 35.84 lakh).
Digital Marketing emerged as the highest-paid functional role for senior professionals, with an average annual CTC of Rs 35.65 lakh.
The renewed demand for professionals with digital skills -- cloud, product management, analytics, AI and automation -- could be the major factors for the sector's strong showing this year, the report said.
With demand for GST compliance specialists, accountants, management consultants and lawyers on the rise, the professional services sector ranked as the second-highest paying sector for junior and senior levels.
The report also highlighted the 'Hot Jobs for 2019' that showcased roles that are in strong demand across industries, where talent in 6-10 years experience bracket are paid relatively higher remuneration as compared to other professionals in the same salary range.
Compliance Specialists topped the chart with an average annual CTC at Rs 31.09 lakh, followed by Python Specialists with a CTC of Rs 20.24 lakh, Hadoop Specialists at Rs 19.01 lakh and Specialist Doctors with a CTC of Rs 18.01 lakh.
The Randstad Insights Salary Trends Report 2019 analysed 1,00,000 jobs across 15 industry verticals and functions, spread across eight major cities.