Manufacturing, the only sector in 2017 to witness an increase in median gross hourly salary – Report
Online career and recruitment solutions providers Monster.com released the ‘Monster Salary Index’ (MSI) report for the Manufacturing sector. At Rs. 230.9 per hour, the Manufacturing is the only sector amongst the eight captured in the report that has seen a notable increase (9%) in median gross hourly salary. What’s also interesting to note is that the median gross salary in the manufacturing sector in 2017 at Rs 230.9 per hour is 5.2% more than the overall median gross salary of India which is Rs 219.4 per hour.
Last year the manufacturing sector was also the second highest-earning sector in India, and except the IT sector, manufacturing also remains the only other sector that has paid a median gross salary of above Rs. 200 per hour threshold.
The report also studies other sectors such as construction, education, healthcare, legal and market consultancy and transport, logistics and communication industries.
The report observes that the IT sector paid the median wage at Rs. 317.6 per hour, the highest among all monitored sectors, but 17.8% less than the last year. This is one of the reasons why more than half (51%) were not satisfied with their jobs. Some other aspects contributing to job dissatisfaction are commuting time, work-life balance, and working hours. Interestingly, employees in the IT sector are most satisfied with their relationships at work. They rated their relationships with colleagues and supervisors a high 90%s.
Sharing his thoughts about the finding Abhijeet Mukherjee, CEO, Monster.com, APAC, and Gulf said, “India is well positioned to become one of the largest manufacturing economies in the world. The momentum is mirrored by the increased median gross hourly wage recorded for the manufacturing sector in the index.
He feels there are clear signs of development in local manufacturing sectors such as steel, auto, chemicals and energy and this is also reflected in the 60% y-o-y growth in online hiring in the Production & Manufacturing sector till July 2018, as reported by Monster Employment Index.
