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According to Randstad Insights, the research and analysis division of Randstad India, the average annual cost to company (CTC) for talent across all levels and functions in Bangalore stood at Rs 1.08 million per annum.
Bangalore is followed by Pune at Rs 100,000 NCR and Mumbai Rs 990,000 lakh and Rs 920,000, respectively. Chennai (Rs 800,000), Hyderabad (Rs 790,000) and Kolkata (Rs 720,000) are the other three names on the list of Indian cities paying the highest average salaries for professionals.
The roll-out of GST saw a spike in demand for implementation and compliance specialists, thus making professional services the second highest paying sector in the country, with an average salary of Rs 940,000, it added.
FMCG, is the third highest paying industry with an average CTC of Rs 920,000. The IT sector, offering an average annual CTC of Rs 910,000 lakh and infrastructure, real estate and construction at Rs 900,000 lakh take the fourth and fifth position in the list as India's most lucrative industries for professionals.
Meanwhile, there are some roles where talent in 6-10 year experience bracket is paid relatively higher remuneration. Specialist doctors top the chart with an average annual CTC at Rs 1.84 million, followed by solution architects at a CTC of Rs 1.51 million lakh, product engineering specialists at Rs 1.48 million and blockchain technology experts at a CTC of Rs 1.46 millin.
"A strong salary structure that strikes a perfect balance between internal and external pay equity is an imperative today for the organisations as it's often the key to bring top talent on board and keep them motivated," Randstad India MD & CEO Paul Dupuis said.
Randstad Insights Salary Trends Report 2018 analysed 1,00,000 jobs across 20 industry verticals and 15 functions.