Hyd junior, mid-level employees' salaries ranked second in country: Report
Bengaluru ranked first among cities in salary pay-scales across junior and mid-levels in job level hierarchies but was second after Mumbai when it came to senior levels.
By Sumit Jha Published on 7 Jan 2022 11:16 AM GMT
Hyderabad: The city ranks second in salary pay-scales across junior and mid-levels in job level hierarchies in the country, according to Randstad Salary Trends Report 2021.
Bengaluru ranked first among cities in salary pay-scales across junior and mid-levels in job level hierarchies but was second after Mumbai when it came to senior levels.
According to the report, the average CTC in Bengaluru stands at Rs. 6.71 lakh at the junior level, followed by Hyderabad (Rs. 5.93 lakh), Chennai (Rs. 5.63 lakh), and Mumbai (Rs. 5.51lakh). At the mid-level, the average CTC in Bengaluru is (Rs. 18.06 lakh) followed by Hyderabad (Rs. 17.71 lakh), Mumbai (Rs. 17.25 lakh), and Pune (Rs. 17.20 lakh).
The Randstad Salary Trends Report is an annual analysis of the constantly evolving Indian job market. Coming as it does in the aftermath of a highly challenging and transformative year, the 2021 report has attempted to capture the upheavals and trends of a reimagined future and provide a comprehensive view of current and emerging salary trends across a spectrum of industries, functions, and cities in the country.
On average, junior executives in Bengaluru draw 11.6% higher than the second tier 1 city Hyderabad and an average of 17.8% higher than all its counterparts. Bengaluru's undisputed position as India's IT capital most probably explains this trend. These margins are however significantly reduced in the mid-level job levels ā Bengaluru is just 2% higher than its next city Hyderabad and an average of 4.5% higher than all its counterparts as per the report.
At the senior job levels, Mumbai stands at the top of the table with salaries 3.4% higher than Bengaluru and an average of 8.8% higher than the tier 1 cities in general. Mumbai, being a very sector-niche location for banks, investment companies, consulting firms, and analytics operations, commands higher salaries for senior executives. Plus, its higher cost of living has pushed the salaries of analytics professionals in these niche sectors northward as compared to all the tier 1 cities.
At the senior level, the average CTC in Mumbai is Rs. 35.68 lakh followed by Bengaluru (Rs. 34.47 lakh), NCR (Rs. 32.74 lakh), Pune (Rs. 32.39 lakh), Ahmedabad (Rs. 31.94 lakh), and Hyderabad (Rs. 29.78 lakh).
Hyderabad, a strong IT hub, occupies second place in junior- and mid-level job brackets. While the variance at junior levels is significant at 11.6%, it is a close second in the mid-level segment at a mere 2%. However, at the senior level, the differential against Bengaluru is high at 16.5%. It slides down to the sixth position and ranks below Pune and Ahmedabad.
On a national scale, the mid-level salaries are more than three times that of the junior levels (Rs. 17.26 and 5.52 lakhs, respectively), while the senior level salaries are close to twice that of the mid-levels (Rs. 32.54 and 17.26 lakhs, respectively). This trend spans all locations which show that a high premium is placed on the seniority of job levels.
