Hardware & networking, software & IT services and the consumer sector are the top three highest paying industries in the country, a salary study conducted by professional networking giant, LinkedIn has revealed. For the first time, such a study has been conducted in the country and the results are based on the data available on the LinkedIn platform, TOI reported. Among the cities paying the highest salaries, the ‘Silicon Valley of India’, Bengaluru, tops the charts followed by Mumbai and Delhi. This aspect goes with the fact that technology companies pay the most.
Quoting the LinkedIn study, TOI reported that at Rs 12 lakh, the weighted average compensation was the highest in Bengaluru, followed by Mumbai and Delhi-NCR at Rs 9 lakh each. The weighted average compensation in major metropolitans like Hyderabad stood at about Rs 8.5 lakh and Chennai at Rs 6.3 lakh.
In terms of the job profile and the sector, jobs in the hardware & networking industry fetch about Rs 15 lakh per annum (weighted average), while software jobs fetch about Rs 12 lakh, and consumer jobs Rs 9 lakh.
According to the experts, jobs in the chip design and new-age networking domain are among the upcoming fields with highly paid salaries. A lot of chip design implementation has moved to India, pushing salaries in the area of very-large-scale integration (VLSI) technology, head of design R&D at Synopsys India, Shivananda Koteshwar told TOI.
Today the salaries of individuals are 4.5 to 5 times their years of experience, he said, adding their salaries were three-times their years of experience just two years ago.
Quoting the CIO (international), Cisco, VC Gopalratnam, TOI reported that with huge data continue to be distributed more widely, customers face challenges related to complexity and security. There is a lot of innovation happening in the networking space, which is increasingly becoming more sophisticated, to address the challenges, he said, adding with increasing sophistication of the networks, there is also a rising demand for networking roles and skills.
The salaries in the new digital technologies like machine learning and artificial intelligence, are exploding too. Bilingual programmers – those who are good at programming and, at the same time, understand a domain deeply – are being paid high, TOI reported quoting Viral Shah, co-founder and chief executive of Julia Computing, as saying. To buttress his point, Shah cited an example of an AI programmer from biomedical engineering background and said that such a programmer is more likely to build the next generation medical device. The domain expertise may be business, engineering, finance, scientific, or medical, he added.
Asserting that jobs in the consumer packaged goods industry segment are still the most sought after in campus placements, Ritesh Rana, vice president HR of Britannia told TOI that top companies in this industry typically approach top-tier B-schools to hire candidates. He added that the sector formed an attractive talent pool and a poaching ground.
About the tool:
Networking giant LinkedIn launched tool that provides insights into the salary of individuals on its platform in India. It has more than 50 million users in India, the second highest in the world after the US. The US-based major has been collecting data through the tool over past two months. The insights are likely become better with more users providing data on the platform.