At Rs 230.9 per hour, the manufacturing is the only sector amongst the eight captured in MSI to see a notable increase (9 per cent) in median gross hourly salary, mentioned in the ‘Monster Salary Index’ (MSI) report. The survey which was released just before the “Make in India” anniversary showed the median gross salary in the manufacturing sector in 2017 at Rs 230.9 per hour is 5.2 per cent more than the overall median gross salary of India which is Rs 219.4 per hour.
In 2017, manufacturing has also been the second highest-earning sector in India and with the exception of the IT sector, manufacturing also remains the only other sector that paid the median gross salary of above Rs 200 per hour threshold. In addition to the manufacturing sector, the report studies construction and technical consultancy; education, research; healthcare, caring services and social work; legal and market consultancy and transport, logistics and communication sectors.
The report is based on the WageIndicator dataset covering the period of three years, from January 2015 to December 2017, of 20,994 respondents.
The report observes that IT sector paid a median wage at Rs. 317.6 per hour, the highest among all monitored sectors, but 17.8 per cent less than the last year. This is one of the reasons why more than half (51 per cent) 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 per cent.
Sharing his views, Abhijeet Mukherjee, CEO, Monster.com, APAC and Gulf said, “As Industry 4.0 continues to gain wider acceptance and reshapes the manufacturing industry, 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 Monster Salary Index.”