Bengaluru has clinched the number one spot as the city with the highest paid salaries in India, as per data collected by LinkedIn, reported The Economic Times. The second and third spots were taken by Mumbai and Delhi-NCR respectively. The highest paying sectors were hardware & networking, software & IT services and the consumer goods industry.
On an average, hardware & networking jobs pay Rs 15 lakhs per annum, software jobs fetch around Rs 12 lakhs, and consumer goods jobs pay nine lakh rupees. The weighted compensation in Bengaluru was calculated at Rs 12 lakhs annually, followed by Mumbai and Delhi-NCR at approximately nine lakh rupees each.
High salaries in hardware & networking are driven by chip design and new-age networking. Shivananda Koteshwar, head of design R&D at semiconductor tools company Synopsys India, contributed the exploding salaries in VLSI (very-large-scale-integration) to the fact that chip design implementation has been moving to India.
VC Gopalratnam, the chief information officer (international), Cisco, said that in the field of networking, customers faced complex challenges surrounding data distribution and security. The rising complexity of networking issues has created the need for increased innovation, leading to more sophisticated work, thus causing an uptick in demand for skills and talents in the field.
New digital technologies in the software space are also causing a rise in salaries, as AI and machine learning penetrate the sector. Viral Shah, the chief executive officer of Julia Computing, said that ‘bilingual programmers’ who were not just skilled programmers but also had expertise in a specific domain like business, medicine, finance etc were also in high demand.
The consumer goods industry is also not how it used to be in the past. The sector has become an attractive employer for high paying executive positions, and typically offers handsome packages in the top-tier B-Schools. Due to the broad scope of growth opportunities in the sector, employers have to ensure a competitive salary structure.
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