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Salary Guide 2020
Download India Salary Guide 2020
The Michael Page Salary Benchmark is our annual salary survey conducted to provide a reference for hiring managers and job seekers to make informed employment decisions in India. The guide benchmarks the salaries of various job functions across different sectors, including Finance & Accounting, Technology, as well as Procurement & Supply Chain. Leveraging data from Michael Page’s proprietary data and network, the guide provides precious insights to hiring trends and market sentiments in the Asia-Pacific region.
Besides median wages, an additional section, titled “What is the India workforce thinking”, will delve into the specifics of what Millennials and Generation X are thinking with regard to work, including topics like:
Average salary increase when changing jobs*
|Digital||10 - 15|
|Engineering & Manufacturing||5 - 15|
|Finance & Accounting||10 - 15|
|Financial Services||10 - 20|
|Healthcare & Life Sciences||12 - 18|
|Human Resources||8 - 12|
|Legal||10 - 20|
|Procurement & Supply Chain||8 - 18|
|Sales & Marketing||6|
|Technology||12 - 20|
* Data is derived from July 2018 to June 2019, and is validated against insights from our leaders’ and consultants’ interactions with clients and candidates.
How can the India Salary Survey benefit you?
- Understand factors that attract and retain talent
- Project reasonable talent cost based on hiring forecast
- Discover top reasons for resignation
- Find out potential roles to upskill for
- Cite informed salary expectations when switching jobs
- Discover trending skills for your job function
It’s time for transformation as India chases agility
It is with great pleasure that I welcome you to India’s first Salary Survey for this new decade. Despite what we see as short-term clouds on the global horizon, good things are coming up ahead as well. With India’s strong 10-year average annual GDP growth of 6.4%, low inflation and positive macro-economic stability, we expect more exciting times ahead for this remarkable nation.
For Michael Page in India, digital transformation is a hot topic for many clients. Naturally, many firms are at different stages in terms of platforms and technology adoption, and it will remain a dominant theme for 2020 and beyond. In terms of digital transformation’s biggest impact on hiring? The need for agility and flexibility of your top talent: more than ever, you need to hire today those with the most potential to become leaders of tomorrow.
We believe India’s disciplines are well-positioned for continued growth, particularly in Digital and Technology hiring. As sectors like e-commerce, mobile and gaming flex their new growth potential, we expect some degree of tightening in terms of match-ready talent. Otherwise, the overall market has an ample supply of good talent for new roles.
The recent opening of our new Bangalore office is an exciting milestone for Michael Page in India. With 37 of India’s 50 unicorn businesses (privately held start-ups valued at over US$1 billion), we feel Bangalore gives us a valuable opportunity to help power India’s next wave of growth companies.
As we explored during our successful Powering India’s Future campaign, a key component to all companies is the leadership function. Mindful that leadership is as complex and demanding now as ever, we’ve put extra attention this year into looking at the Employee Experience (EX), and what tomorrow’s talent expect from a new career opportunity in 2020. We wish everyone an exciting and successful year ahead.