Bengaluru leads as top job hub with 9.3 pc salary growth: Report

PTI, Oct 24, 2024, 7:55 PM IST

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Mumbai: Bangalore dominated as the country’s top city for job opportunities and salary growth as it has registered a 9.3 per cent year-on-year increase, closely followed by Chennai and Delhi, a report said on Thursday.

This growth underlines Bangalore’s reputation as a technology and business hub as the average monthly unified salary in Bangalore stood at Rs 29,500, making it the highest-paying city in the country, according to TeamLease Services Jobs and Salaries Primer report for FY24.

The report is based on an analysis of unified salaries across temporary and permanent hiring markets.

This was closely followed by Chennai and Delhi, which reported strong salary growth of 7.5 per cent and 7.3 per cent, respectively, reflecting the competitive nature of these job markets, it noted.

Chennai’s average monthly salary stood at Rs 24,500 while in Delhi, it reached Rs 27,800, according to the report.

Mumbai and Ahmedabad also reported steady salary increases, reinforcing their importance as key employment centres with the financial capital of the country offering an average salary of Rs 25,100, while Pune stood at Rs 24,700, maintaining competitive pay levels.

Meanwhile, the report revealed that on the industry front, retail has emerged as the top performer, with a remarkable 8.4 per cent salary growth.

This trend was followed by consumer durables (5.2 per cent) and BFSI (5.1 per cent), both continuing to offer strong growth opportunities for professionals, it said.

On the other hand, sectors like logistics, FMCG, healthcare and pharma, and construction and real estate showed more moderate increments, highlighting their steady demand for skilled professionals, the report stated.

The top-paying industries include Telecommunications (Rs 29,200), Manufacturing, Engineering and Infrastructure (Rs 28,200), Healthcare and Pharma (Rs 27,600), and Construction and Real Estate (Rs 27,000).

“The report highlights a positive trajectory in India’s job market, with significant salary growth across cities and industries. Bangalore’s 9.3 per cent salary growth and Retail’s impressive 8.4 per cent increase point to a growing demand for specialised skills that drive compensation trends. This isn’t just about incremental salary growth. It is more about a deeper transformation in the job market,” TeamLease CEO-Staffing Kartik Narayan said.

The narrowing salary gap between permanent and temporary roles in sectors like consumer durables and construction and real estate showed that companies are focused on talent equity and long-term retention, he said.

“These trends highlight the growing importance of adaptability and expertise in shaping the future of work in India,” Narayan added.