FMCG has emerged as the highest paying sector, according to the 2017 Salary Trends Study released by Randstad. The Industry provides an average annual salary of Rs 11.3 lakh across all levels and functions, which makes employees in the FMCG industry highest paid. The survey indicates that FMCG industry is followed by the power sector and the IT industry which receives annual salaries of Rs 9.8 lakh and Rs 9.3 lakh respectively.
Other industries such as telecom offer annual CTC of Rs. 8.7 lakh and whereas, Pharma and Healthcare, provide an average annual CTC of Rs 8.8 lakh.
Moorthy K Uppaluri, Randstad India, MD & CEO says, "Today employers are cognizant of the fact that the right salary structure is one of the key strategies to attract, engage and retain top talent in the organisation and hence it is important to closely analyse the prevalent salary trends and make course corrections wherever necessary."
The study analyzed around 100,000 jobs across 20 industry verticals and 15 core functions, after observing the latest trend; they revealed that around 30 percent of the FMCG jobs were posted in the Rs 10 lakh-plus category.
The survey also lists "Hot Jobs" - roles that are undergoing increased demand right now in the job market, across industries and which pay relatively higher remunerations, when compared to other professionals in the same salary range.
Also, as per the recent RecruiteX, the recruitment index by TimesJobs, FMCG and Consumer durables witnessed an 8% rise in talent demand. The report highlighted that consumer durables/FMCG industry posted an 8% rise in talent demand in February 2017. The Retail sector also saw a 7% rise in talent demand during the month. The Construction sector posted a 6% rise in demand while the Manufacturing industry reported a 4% rise in talent demand during the month. The BPO/ITeS sector saw stable talent demand, while IT/telecom industries registered a drop of 1% in hiring during February 2017.
In addition when we look at -annual compensation trends survey 2017 – 18 by KPMG, average projected variable pay across sectors -15.4% of, which is 0.4% higher than 2016-17.The average variable pay projection increased from 15.0 %in 2016 -17 to 15.4% in 2017 -18. The highest variable pay in CTC percent was reported by banking & financial sector and lowest by the energy sector.