There has been a 25-30% average increase in salaries being paid between 2019 and 2020 for these profiles, which are used to build high-performance network services, cloud apps, and process big data. And these salary trends are expected to continue in the first quarter of 2021.
According to a study by Randstad, a leading firm in the HR services industry, shared exclusively with TOI, Bengaluru is the highest paying city in salary pay scales across the junior-, mid- and senior-levels with an average salary 16-20% higher than other monitored cities.
Executives in the financial hub, Mumbai, earn 16% less than their counterparts in Bengaluru on an average at the junior level and 13% lesser at mid-level. Mumbai, however, is attractive for senior-level managers, helping them earn an average CTC of nearly Rs 32 lakh, which is only 6% less than what a senior executive would earn in Bengaluru.
Industry-wise, while IT takes the lead in junior-level pay scales, internet & e-commerce figures in the top 5 for junior-, mid- and senior-levels. For a junior-level IT professional, an average salary of Rs 6.1 lakh is 23% higher compared to Rs 5 lakh in 2019. ITeS pays the highest with an average CTC of Rs 39 lakh at senior levels.
At the senior level, ITeS professionals, who can apply their IT strengths across different verticals such as insurance, finance, banking, and telecommunication, attract the highest salaries. At the mid-level, internet & e-commerce professionals earn the second-highest, with a variance of 11% as compared to the top-paying professional services industry, while at the senior level, they experience a variance of 18% with the top-paying industry, ITeS.
The study is based on Randstad’s internal data on recruitment, covering 8 cities, 8 industries and over 1 lakh jobs.