FMCG highest paying industry in India: Randstad survey
NEW DELHI: The FMCG industry has emerged as the highest paying industry in India with an average annual cost to company (CTC) of Rs 11.3 lakh across all levels and functions, says a survey.
A robust demand for qualified personnel in sales, marketing and supply chain management roles coupled with close to 30 per cent of jobs being posted in over 10 lakh category is being seen as the primary driver for FMCG industry to emerge as the winner. FMCG is followed by power and the IT sector, where employees across all levels and functions earn average annual salaries at Rs 9.8 lakh and Rs 9.3 lakh, respectively, the 2017 Salary Trends Study released by Randstad said.
Pharma and healthcare, offering an average annual CTC of Rs 8.8 lakh, and telecom (at Rs 8.7 lakh) take the fourth and fifth position in the list as India’s most lucrative industries, the study noted.
“Today employers are cognizant of the fact that the right salary structure is one of the key strategies to attract, engage and retain top talent in the organisation and hence it is important to closely analyse the prevalent salary trends and make course corrections wherever necessary,” Randstad India MD & CEO Moorthy K Uppaluri said.
As per location-specific salary trends, IT capital Bangalore tops the chart as the highest paying city in the country, with an average annual CTC paid for talent across all levels and functions at Rs 14.6 lakh.
Mumbai is at the second position in the list with an average annual CTC figure of Rs 14.2 lakh, followed by Hyderabad (Rs 13.6 lakh) and NCR (Rs 13.5 lakh).
Chennai (Rs 13.4 lakh) Pune (Rs 13.2 lakh) and Kolkata (Rs 11.4 lakh) are the next three names in the list of top Indian cities paying highest average salaries for professionals.
The study also listed “Hot Jobs” - roles that are experiencing strong demand right now in the job market, across industries and pay relatively higher remunerations for talent in the 6-10 years experience bracket, when compared to other professionals in the same salary range. Core Java professionals lead the pack with an average annual CTC at Rs 18.06 lakh, followed by Digital Marketing professionals with Rs 17.09 lakh and Testing Automation Engineers with Rs 14.67 lakh. The Randstad Salary Trends Study 2017 analysed around 1 lakh jobs across 20 industry verticals and 15 core functions. NEW DELHI: India on Thursday expressed its willingness to reinvigorate its engagement with Bangladesh in the power sector. At a meeting with a delegation of senior editors and journalists from the neighboring country, the Union Minister of State (I/C) for Power, Coal, New and Renewable Energy and Mines, Piyush Goyal, expressed his willingness to support Bangladesh in the Renewable Energy sector and Energy Efficiency initiatives, in which India has achieved huge success.
“The scale at which the RE sector has expanded would surely help Bangladesh to learn from India’s experiences and help the nation in transition towards Clean Energy in the future,” the Minister avouched.
“This would enrich and strengthen the engagement between the two countries in the areas of mutual and shared interests,” he added.
In March, India had expressed its interest to give Bangladesh a credit line of at least $3.5 billion for infrastructure projects during the Prime Minister Sheikh Hasina’s India visit as Beijing and New Delhi jostle for geopolitical influence in South Asia.
Reportedly, the credit line to its neighbor would go toward a variety of projects ranging from nuclear and liquefied natural gas power plants to ports, railways and the establishment of special economic zones.
The interaction was organised by the Ministry of External Affairs for the delegation to learn about the turnaround that has been achieved in India’s power sector. A presentation was also given to the delegation informing them about the transparency initiatives taken by the government like various mobile apps and web portals in the power sector and the change that the transparency and accountability has brought about in the governance in the sector. Addressing the delegation, the minister said that India and Bangladesh have expanded the scope of engagement to an unprecedented scale, which has built a great level of mutual trust between the two nations.
Goyal also noted that both countries have a lot to learn from each other and cooperate on a number of issues of regional and global importance. He also commended the neighboring nation on its achievements like the Grameen Bank, revolution in the textile sector, on which India looks up to Bangladesh. “India and Bangladesh are more than just neighbors”, he added. During the meeting, members of the delegation were informed about the series of reform measures that have been taken by the government to bring about transparency and accountability in the power sector and to achieve the mission of Affordable, Quality, and “24x7 Power for All”.