Information technology (IT) is the highest paid sector in India, with a median gross hourly salary of Rs 346.42, while manufacturing is the least paid at Rs 254.04 per hour, according to the Monster Salary Index (MSI) sectoral reports. The MSI reports for manufacturing, IT and banking, financial services and insurance (BFSI) sectors, released by online firm Monster India, however pointed out that only 57.4 per cent of IT professionals were satisfied with their salary.
That employees in the manufacturing sector are paid about nine per cent less than the median salary for the entire Indian economy taken together (Rs 279.7/hr) is an eye-opener despite the government's focus towards the sector through its "Make in India" initiative.
The findings show that in manufacturing, the salaries are very low irrespective of the education level, with the median hourly figure touching Rs 260.8 even for a postgraduate degree holder. Also, foreign-owned manufacturing companies pay nearly double of what Indian manufacturing firms pay their workers. In IT, male supervisors out-earn their female counterparts, the reports said.
