IT highest-paying sector in India, manufacturing least: Study

employment-opportunityDespite the Modi government’s focus on ‘Make in India’, the manufacturing sector continues to be paid the least at Rs 254.04/hour, less than the median salary of the Indian economy, the Monster Salary Index has revealed.

The just-released Monster Salary Index’ (MSI) sectoral reports for Manufacturing, IT and BFSI highlighted that employees in this manufacturing sector are paid about 9% lesser than the median salary for the entire Indian economy taken together (Rs 279.7/hr).

The findings of the manufacturing sector show that irrespective of the education levels, the salaries are still very low; even for a Master’s degree holder the median hourly salary stands at Rs 260.8/hr. Additionally, foreign owned manufacturing companies pay nearly double of what Indian manufacturing firms pay their workers.

IT is the highest paid sector in India with the median gross hourly salary pegged at Rs 346.42. For the BFSI sector, it is R300.23. Despite being paid about 24% higher than the media salary of country, only 57.4% employees in the IT sector are satisfied with their pay.