Median gross hourly salary fell by roughly 21 percent over two years to stand at Rs 219.4 per hour in 2017, as against Rs 277.1 per hour in 2015, according to a survey by recruitment platform Monster.com.
According to Monster Salary Index (MSI), only the manufacturing sector’s median gross hourly salary has been raised by Rs 19.2 of Rs 230.9 in 2017, as compared to Rs 211.7 in 2016, an increase of 9 percent.
The manufacturing sector was the second highest-earning sector in India in 2017. With the exception of the IT sector, it remains the only other sector that paid median gross salaries above Rs 200 per hour. The IT sector is the highest paid in India at Rs 317.6 per hour but still, it is a 17.8 percent less than 2016.
Transport, logistics and communication sector received the lowest median gross hourly wage of Rs 133.1, the wages have almost halved as compared to 2015. Meanwhile, in the financial services sector, wages dropped to Rs 144.3 in 2017 from Rs 433 per hour in 2016.
Abhijeet Mukherjee, CEO, Monster.com, APAC and Gulf said, “There are already clear signs of green shoots sprouting in pockets of local manufacturing in sectors as diverse as steel, auto, chemicals, and energy.”
As observed during previous years, the higher an employee’s educational level, the higher their hourly wages. Education continues to be one of the primary factors for the level of income. On average, bachelor graduates in India earns nearly twice the hourly wage of an employee with a higher secondary education diploma.
In 2017, degree holders received Rs 74.3 more than workers with secondary education. Masters degree holders were paid Rs 137.8 more per hour when compared to bachelor’s degree holders.
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