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Gender continues to play a significant role in determining the wages in the Indian labour market, finds a recently released Monster Salary Index. On an average, men earn Rs 259.8 per hour whereas their female colleagues earn just Rs 190.5 - about 27 per cent less. In fact, male workers are more likely to have a supervisory role, and those that do, earn more than female workers with supervisory roles by 77.3 per cent.
An additional factor influencing wages is the nature of ownership of the company. Workers in domestic companies earn about Rs 115 per hour less than workers in firms partially owned by foreigners. The highest wages are enjoyed by workers in companies fully owned by foreigners. Such workers earn Rs 150 per hour more than workers in firms with mixed ownership and Rs 268 more than in domestically owned companies.
With median gross hourly wage of Rs 291, the wages of the IT sector are driven by the high share of foreign capital. This is especially visible in terms of wages of employees working in foreign-owned companies, whose median gross hourly wage reaches Rs 557.3.
Finance is the second most lucrative career path after IT. Workers with four or five-year bachelor's degree or a master's degree receive on an average over Rs 300 per hour. In fact, employees in fully foreign owned financial companies earn on average Rs 496 per hour, that is Rs 333 more than their colleagues in wholly domestically owned companies.
