Average IT Salaries Fall, But Still Highest. Edu Sector Pays Least!
As per a recent salary comparison research conducted by Monster India, it has been revealed that education industry pays the minimum salary at Rs 186.5/hour, whereas salaries in IT sector have fallen by nearly 1.3% compared to last year. This is first time that IT salaries have come down.
Even then, IT has emerged to be the highest paying industry with Rs 341.8/hour.
Finance industry is the second best with Rs 291 / hour, followed by construction industry which pays Rs 259 / hour.
Here are the average salaries of top 7 industries in India:
- IT: Rs 341.8/hour
- Finance: Rs 291/hour
- Construction: Rs 259/hour
- Health care: Rs 215/hour
- Legal: Rs 215.6 / hour
- Manufacturing & Transport: Rs 230.9 / hour
- Education: Rs 186.50
The report mentions that education industry has more women employees, compared to men and this is the reason the average pay is reduced. As per the report, the gender gap in Indian IT industry has widened to 34%, compared to 29% last year, and the trend is consistent in all industries; for instance, in Finance industry, the gender gap is 19%.
As per their last research in July, 2014, we had reported that there exists a huge gender pay gap in India, which can stretch to 29% in some cases. In that report, the average salary of IT workers in India (both men and women) was calculated to be Rs 346.29/hour, which has now come reduced 1.3% to Rs 341.8/hour.
As per the report, “While we have seen a great increase in the number of women in supervisory positions, this does not reflect in the salary that those women are receiving,”
Some other interesting findings:
Estimated average pay across all sectors:
- Men: Rs 259.8 /hour
- Women: Rs 190.5/hour
Estimated average salary in companies:
- Owned by Indians: Rs 115 / hour
- Wholly Domestic Firms: Rs 141.1 / hour
- Partly domestic and partly foreign owned firms: Rs 256.30 / hour
- Wholly Foreign Owned firms: Rs 409.40 / hour
These findings are part of Monster Salary Index, which is a research conducted jointly by Monster India, Wage Indicator Foundation and IIM Ahmedabad as Research Partner. The survey asked 35,929 participants across various sectors, out of which 85.7% were men and 14.3% were women.
In a separate global wage comparison conducted by Paycheck.in (part of Wage Indicator Foundation), it was found that in Asia, Indians are paid maximum. Compared to Chinese domestic workers who are paid $1.81, Indians are paid $2.09, which is the highest in Asia but 550% lower than average domestic pay in European countries where workers are paid $13.6/hour.
We have created an infographic with these numbers, have a look!