2017 sal a r y & empl o yment outlook · of companies in india will be adding ... again...
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S A L A R Y & E M P L O Y M E N T 2017 INDIA
OUTLOOK
Table of Contents
Introduction
India 2017 at a glance
India Market Overview
Mumbai Market Overview
Delhi Market Overview
Discipline insights and salary tables
Finance
Financial Services
Human Resources
Legal
Procurement & Supply Chain
Sales & Marketing
03
04
06
08
10
12
15
27
30
32
35
India Salary & Employment Outlook • 3
By Sébastien Hampartzoumian Introduction
Welcome to the 2017 Michael Page Salary and Employment Outlook.
India appears to be well-armed in withstanding volatility, despite the well-documented concerns surrounding the global economy. Activity levels are positive, with the continued demand for talent on the rise.
The Michael Page Salary and Employment Outlook combines qualitative and quantitative research, as well as expert insight and commentaries into the senior executive and professional employment market.
This year’s report is based on the responses of over 300 employers across India. Our clients come from major industry sectors and range from market-leading multinationals to small and medium-sized enterprises.
You will also find detailed salary guides that reflect accurate and concise remuneration ranges, with tables divided into job types, years of experience, company size and state. I would like to thank everyone who took part in our survey, as well as the many experts in Michael Page who have shared their insight. I hope you find this report to be a useful resource. If you have any questions, please get in touch with me using the contact details at the end of the report.
Sébastien HampartzoumianSenior Managing DirectorSingapore and India
The Salary and Employment Outlook combines qualitative and quantitative research, as well as expert insight and commentaries into the senior executive and professional employment market.
India Salary & Employment Outlook • 4
At a glanceIndia 2017
of employers are offering 6 to 15% pay increments
of companies in India will be adding new headcount to their businesses
60%45% of these new employees will be in middle management
Hiring Activity
of employers say hiring activity will range from steady to strong over the next 12 months
80%88%
India’s employment market enjoyed a good year largely unaffected by the global economic slowdown in 2016. But what’s in store for 2017? Michael Page’s latest India Salary and Employment survey looks ahead.
India Salary & Employment Outlook • 5
At a glanceIndia 2017
of staff leave due to limited career progression
of employers say diversity is a priority and have active programmes in place
Top 3 factors in talent retention
Diversity & Inclusion
44%
83%
Talent Retention
Flexible working hours
Work from home and remote access
Wellness programmes
Work-life balance strategies
55%
47%
42%21
3
Career progression
79%
Learning & development
40%
Salary increases
56%
India Salary & Employment Outlook • 6
India Market Overview
Key sectors that are experiencing solid growth include the financial services sector, as more non-banking financial companies (NBFCs) establish themselves in Mumbai, the nation’s economic capital. NBFCs are seen as popular lending alternatives for entrepreneurs and small and medium-sized enterprises that experience difficulties securing loans from traditional banks.
Outlook for the healthcare sector remains favourable, again facilitated by the relative low cost of pharmaceutical talent in India, market dominance of cheaper generic medicines and encouragement from the government to manufacture more active pharmaceutical ingredients.
While e-commerce thrived last year, we have seen this sector stabilise somewhat. Investors are exercising caution, choosing to invest in sustainable businesses instead of seemingly volatile start-ups. Still, the industry continues to attract top Indian talent currently based overseas, with many returning to the country to set up or join technology and engineering ventures.
Domestic consumption in the country is also rising, with India’s growing middle class leading demands. However, with more players now fighting for market share, competition within the fast-moving consumer goods sector has also increased. As a result, companies’
growth expectations have taken a bearish turn.
Talent shortages are most evident in the fast-growing supply chain and logistics sector, especially for senior-level plant managers. Rapid growth and an overall shortage of skills mean there is intense competition for high-calibre candidates. 60 per cent of companies are expecting to increase headcount, with middle managers comprising 45 per cent of these new employees.
To attract and retain employees, a large majority (79 per cent) of employers are looking to structure clear progression paths. The key will then be to continue prioritising internal development programmes in order to retain the best talent.
One interesting observation is that companies are also going beyond gender when addressing workplace diversity. Gradually, more employers are looking to foster an environment where employees, regardless of race, age and abilities, can succeed at the highest levels. This progressive outlook will help engender innovation and productivity. Survey results show that 83 per cent of companies have placed diversity on medium to high priority.
While e-commerce thrived last year, we have seen this sector stabilise somewhat. Investors are exercising caution, choosing to invest in sustainable businesses instead of seemingly volatile start-ups.
India has enjoyed a good year and we expect the country to continue with its positive growth, largely unaffected by the global economic slowdown, due to the continued influx of foreign direct investment under the government’s “Make in India” campaign.
Manufacturing output has already increased, with new orders coming from overseas firms seeking to utilise India’s vast resources and labour pool. More foreign companies are also investing in India’s fast-expanding infrastructure and renewable energy sector. We expect this investment to increase as electricity demand in the city rises and as the government prepares to streamline the country’s tax processes.
Companies’ employment outlooks are also reflecting this positivity. A huge majority (80 per cent) of employers surveyed say hiring activity will range from steady to strong over the next 12 months — numbers that are higher than the Asia average.
The market is better compared with previous years but internal salary increments are still on the lower side and will stay at around 10 per cent. Hiring at the junior and mid-levels has picked up and candidates with niche skills will command a premium in salaries while switching jobs.– Head of Human Resources, medical devices multinational company
We do not foresee big increments in headcount. However, hiring activity would likely focus on areas like internal control and tax. I wouldn’t be surprised if these groups of people receive the highest increments while switching jobs.– Director, leading investment bank
India Salary & Employment Outlook • 8
Mumbai Market Overview
E-commerce's growth is expected to stabilise somewhat, though demand for skills in areas like coding and software development still outstrips supply.
However, the fast-moving consumer goods (FMCG)sector is expected to adopt a more cautious approach in the coming year as the area’s growth was weaker than anticipated.
In general, Mumbai professionals can look forward to earning salaries about 10 to 15 per cent higher than other parts of the country, in line with the city’s higher rates of inflation. However, these rates have started to fall and a small number of companies are starting to take a more conservative approach to salary increases. Still, the city continues to be a hub for the country’s best talent and top graduates.
Companies have also started to become stricter in their hiring processes, investing time and effort into candidate selection and interviews, especially for mid to senior-level recruitment, in order to ensure best-fit hires.
Candidates in demand include marketing professionals within the FMCG and pharmaceutical industries; tax, legal and compliance professionals; chief financial officers for funded start-ups; and HR business partners.
Companies have also started to become stricter in their hiring processes, investing time and effort into candidate selection and interviews, especially for mid to senior-level recruitment.
Employment activity in Mumbai has been largely positive, with demand from some sectors exceeding others.
One area of growth is financial services, as domestic banks expand their headcount and more non-banking financial companies — firms that provide banking services but do not hold a banking license — set up shop in the city. Mumbai is still very much India’s economic capital, retaining stability and resilience amid the current economic flux, and many conglomerates, including private equity and investment firms, have continued to build their headquarters in the city.
Though this trend is in its early stages, some tech firms that currently have bases in Indian cities like Hyderabad and Bangalore, have begun setting up corporate offices in Mumbai to take advantage of its proximity to investors and top talent.
Hiring in the alcohol and beverages sector has picked up in the last few months as companies are looking at bringing new brands and portfolios to the country. Hiring at senior level is also up from last year as India’s market has seen restructuring happening at the top. Increments have been in the 10 to 15 per cent range but bonus payouts have been more than the last couple of years.– Head of Talent Acquisition, large alcohol beverages firm
Major FMCG players are finding it difficult to grow at the same rate as there are a lot of new entrants in the market, including domestic and international companies and the latter has taken a significant portion of the pie. This, in turn, has impacted bonus payouts and increments.– Head of Human Resources, major global FMCG company
India Salary & Employment Outlook • 10
Delhi Market Overview
In the same vein, research and development, engineering as well as the procurement and supply chain sectors are also experiencing steady growth. More companies are transferring and creating mid to senior-level positions to and within India, such as advanced analytics and machine learning specialists as well as biostatisticians, to create global or regional hubs. This move has resulted in a bigger pool of Indians returning from abroad to work in the region.
However, the property and construction sector continues to struggle from stalled projects and poor sales.
In terms of salaries, we are still seeing the same trends from the previous year, with candidates receiving increases of up to 30 per cent when changing jobs and annual increments staying between 6 and 15 per cent. We expect companies to start paying more to attract top candidates, especially in the above-mentioned sectors, as the race to secure top talent intensifies.
Many have now established a strategic presence in Delhi NCR for better access to key officials and regulators. They are also actively hiring talent for commercial roles.
Confidence across the board is high in the National Capital Region of Delhi (Delhi NCR), bolstered largely by the government’s push for jobs creation and foreign investment.
Already, we have seen positive results from these initiatives, including a significant increase in foreign direct investment inflows across most sectors. Earlier in March, foreign direct investment saw a 20 per cent jump to US$40.46 billion (2.7 trillion INR), compared with US$30.93 billion in the 2014/15 fiscal year, reported the Wall Street Journal1.
In particular, overseas infrastructure and renewable energy companies, including those from Singapore and Europe, have started investing heavily in the country. Many have now established a strategic presence in Delhi NCR — the country’s political hub — for better access to key officials and regulators. They are also actively hiring talent for commercial roles like sales, business development and project management to drive growth.
We are also seeing a talent demand in shared services as more multinational companies are diversifying such operations to Delhi NCR, a trend driven by the region’s strong global connectivity as well as its competitive infrastructure costs.
1 www.wsj.com/articles/india-relaxes-foreign-direct-investment-rules-1466434994
For companies like ours (tech start-ups), speed and efficiency in hiring is extremely important. With a limited talent pool, it is safe to assume that the same candidate would be exploring multiple opportunities at the same time. Hence, we need to be quicker than our competitors.– Head of Talent Acquisition, Delhi-based tech start-up
Even though everyone talks about India developing as a healthcare hub, organisations within the medical devices sector are still finding it challenging. There is definitely a focus on increasing production volumes from Tier 2 and Tier 3 cities but accessibility and high cost of products remain a constraint, especially as most device components are imported.– Head of Human Resources, global medical devices company
India Salary & Employment Outlook • 12
Finance
Since its September 2014 launch, the nation-building ‘Make In India’ initiative has created more job opportunities, especially in the emerging manufacturing industry. Headcount has also increased in the healthcare and technology industries as well as infrastructure’s three specialised sectors: energy, power, and EPC (engineering, procurement and construction).
The profitability and sustainability of e-commerce as an industry will be a hot topic for 2017. Consolidations and mergers in the e-commerce space may result in increased attrition as many candidates leave to rejoin the fast-moving consumer goods (FMCG), fast-moving consumer durables (FMCD) and telecommunications sectors. The challenge for recruiters will be to attract candidates to emerging or new e-commerce businesses.
India is gaining prominence worldwide as a finance shared services hub. A growing number of multinational corporations now have offices in Gurgaon, Bangalore, Hyderabad and Pune.
There is a general sentiment that the market is employer-driven with an oversupply of candidates. We have observed mostly replacement hiring in the FMCG and FMCD sectors and the retail industry. Hiring activity has also decreased in the real estate sector due to reduced consumer demand. The saturation — and hence, lower profit margins — in the telecommunications sector has also resulted in a recruitment slowdown.
While many employers expect to face minimal recruitment challenges, some companies will still have to undergo a long and thorough hiring process to find the right candidate.
Organisations are moving towards implementation talks on Indian Accounting Standards (Ind-AS), which is a combination of the International Financial Reporting Standards (IFRS) and the Indian Generally Accepted Accounting Principles (IGAAP). As a result, there could be a growing demand for IFRS experts, a role that was traditionally less sought after previously.
With more foreign infrastructure and renewable energy companies, including those from Singapore and Europe, investing heavily in India, there is now a considerable talent shift from local Indian companies to multinational corporations.
Tax remains a hot topic for 2017, specifically for indirect tax professionals. Despite a lack of clarity in the implementation of India's goods and services tax (GST), most employers want to be prepared by having the right candidates and leaders onboard.
Overall, annual salary hikes are expected to be between 6 and 15 per cent across all disciplines. Start-ups will typically offer a 10 to 15 per cent increase in fixed salary to candidates from bigger organisations, but the actual cost-to-company could be higher with the inclusion of stocks. Switching between similar organisations brings a 15 to 25 per cent increase for candidates, depending on seniority levels.
Skills in demand include financial planning and analysis, with mature companies and start-ups looking to hire shared services staff and financial controllers. Companies within the e-commerce industry are also hiring vice-presidents of finance and chief financial officers.
Salary Tables
India Salary & Employment Outlook • 13
General
Finance
Salary (INR Lacs)
Experience 3-5 yrs 5-10 yrs 10-15 yrs 15+ yrs
Cities Delhi Mumbai Delhi Mumbai Delhi Mumbai Delhi Mumbai
CFO/Finance Director (Large organisation) - - - - 60-90 70-100 90+ 100+
CFO/Finance Director (Small/medium organisation) - - 25-45 40-60 45-75 60-80 75+ 80+
CFO/Finance Director (Shared services centre) - - - - 45-70 60-80 70+ 80+
GM Finance/Financial Controller (Large organisation)
- - 25-40 35-50 40-65 50-75 65+ 75+
GM Finance/Financial Controller (Small/medium organisation)
- - 20-35 25-40 32-50 40-60 50+ 60+
GM Finance/Financial Controller (Plant) 8-15 12-20 15-25 20-30 25-38 30-45 38+ 45+
Finance Manager (Large organisation) 10-18 15-25 18-35 25-40 - - - -
Finance Manager (Small/medium organisation) 8-15 12-18 15-25 18-28 - - - -
Finance Manager (Shared services centre) 10-15 12-15 12-28 15-30 28-50 30-50 - -
Financial & Planning Analysis 12-20 12-20 20-40 20-50 40-60 50-70 60+ 70+
Financial/Business Analyst 10-15 12-15 15-30 15-30 28-50 30-50 - -
Financial Accounting 8-15 12-15 15-26 15-30 26-45 30-50 - -
Salary (INR Lacs)
Experience 3-5 yrs 5-10 yrs 10-15 yrs 15+ yrs
Cities Delhi Mumbai Delhi Mumbai Delhi Mumbai Delhi Mumbai
Finance Strategy 15-25 15-25 25-40 25-50 40-70 50-80 70+ 80+
Costing 8-12 10-15 12-22 15-25 22-35 25-40 - -
Accounts Receivable 8-12 10-15 12-22 15-25 22-501 25-501 - -
Accounts Payable 8-12 10-15 12-22 15-25 22-501 25-501 - -
Treasury 10-18 12-20 18-35 20-40 35-55 40-60 55+ 60+
Tax-Indirect 12-20 15-25 20-35 25-40 35-50 40-60 50+ 60+
Tax-Direct/International 15-25 18-30 25-40 30-45 40-60 45-70 60+ 70+
Corporate Finance 12-22 15-30 22-40 30-50 40-60 50-70 60+ 70+
Internal Audit 10-20 15-22 20-40 22-45 40-60 45-65 60+ 65+
Specialist
1 Only applicable for shared services set up
Please note:
1. Salaries are quoted as CTC (cost to company including basic salary, HRA, other allowance and retirals). 2. All salaries are median ranges.
Salary Tables
India Salary & Employment Outlook • 14
Finance
Salary (INR Lacs)
Experience 3-5 yrs 5-10 yrs 10-15 yrs 15+ yrs
Cities Delhi Mumbai Delhi Mumbai Delhi Mumbai Delhi Mumbai
Audit 10-20 12–20 20-35 20–35 35-55 35-60 55+ 60+
Tax 10-20 12–20 20-35 20–35 35-60 35-60 60+ 60+
Transaction Advisory 12-20 12–20 20-35 20–35 35-60 35-60 60+ 60+
Public Accounting
Please note:
1. Salaries are quoted as CTC (cost to company including basic salary, HRA, other allowance and retirals). 2. All salaries are median ranges.
India Salary & Employment Outlook • 15
CORPORATE BANKING
The corporate banking sector remains relatively stable in India due to the presence of strong clientele like established domestic firms and multinational corporations (MNC).
Corporate banks have started to streamline their transaction banking teams in favour of payment and mobile-wallet friendly platforms to align with clientele preferences and activities.
In terms of candidate movement, we have more senior executives who are leaving the sector to join non-banking financial companies (NBFCs) — firms that provide banking services but do not hold a banking licence. NBFC services are increasingly sought-after in India due to constraints in local banks’ lending abilities.
Candidates that are in high demand include those who are adept in the digital banking, stressed assets and restructuring practice areas.
FINANCE
Recruitment activity in the investment banking sector has increased as more end-to-end work in areas like financial control and product control is being transitioned to India.
Salary bands have increased for professionals at the vice-president level and above, a result of increased demand for business-facing end-to-end skill sets.
Candidates are still willing to change jobs, even moving across the country, given the right opportunity and compensation package. In particular, many professionals from the domestic banking sector are now attracted to organisations like NBFCs, microfinance institutions and payment banks.
Candidates with the technical expertise to support onshore and front-end businesses are particularly sought after. Returning Indians with overseas experience in investment banking are also in high demand.
Hot jobs for 2017 include roles in product control, internal audit and compliance.
Financial Services & Banking
India Salary & Employment Outlook • 16
FRONT OFFICE
Recruitment activity has increased in investment banking (IB), private equity (PE), venture capital (VC) and management consulting firms. We are also seeing new funds looking to attract talent from existing global and domestic PE & VC firms in the country.
Front office salary bands have remained constant in global PE and VC firms. To control staff turnover, pay gaps between local PE and VC firms and their global counterparts have narrowed.
Candidates from the PE, VC, IB and consulting disciplines are less keen to join newly created set-ups this year due to the recent volatility in India’s start-up ecosystem. IB and consulting professionals prefer, in general, to move into buy-side roles with PE and VC firms.
With an increasing number of tech investors in the country, VCs and PEs are now scouting for investment professionals who have a strong understanding of Software as a Service (SaaS), big data and IT.
There is increasing demand for Indian candidates with overseas IB/PE experience to fill junior level roles in India’s PE and VC firms.
Hot jobs for 2017: analysts, associates, vice presidents (for PE, VC and IB firms).
PRIVATE BANKING
Due to challenges in sustaining business growth, MNC private banks in India are facing high attrition rates in the range of 20 to 30 per cent. As a result, many private bankers from MNCs have moved over to local private banking firms.
Investors' appetite in wealth management setups, including start-ups, in India has increased.
To differentiate themselves from competitors, more companies in the sector have adopted a more open-minded outlook, with family office concepts — where firms oversee day-to-day administration and management of a family’s wealth — are gaining acceptance.
Firms are also more receptive to team recruitment, where at least two private bankers from the same team in a competitor bank are hired. Such moves help firms to quickly scale up their teams as these bankers come in with solid market reputations and existing books.
Remuneration-wise, private bankers are increasingly interested in having employee stock ownership plans and greater profit-sharing schemes as part of their compensation package.
Bankers who have at least six years of experience are preferred over junior counterparts given their established reputation and books. Those who have demonstrated employment stability, rather than job-hoppers, are also preferred.
India Salary & Employment Outlook • 17
ANALYTICS
Analytics, as a discipline, has been expanding in India’s financial services and information technology enabled services sector in recent years. More organisations, including well-established firms and start-ups, have been building up their analytics capabilities from scratch and existing analytics service providers have also put expansion plans in place. Candidates are now required to be domain agnostic, possessing the ability to work across systems and firms are looking to hire professionals with good academic background and sound technical knowledge.
Despite recent volatility in the start-up ecosystem, confidence and interest remain high in the sector. Most of the senior analytics candidates in the banking, financial services and insurance (BSFI) sector continue to seek stability and a strong brand position over high salary increments.
Skills in demand include data sciences and machine learning. Many organisations are venturing into open source and big data technology to handle the increasing amount of information that requires analysis. This trend is more apparent in consulting and start-up environments.
Advanced analytics skills such as natural language processing, deep learning, and the Internet of Things, have gained significant traction and are set for exponential growth.
Hot jobs for 2017 include positions across data sciences, machine learning, digital analytics, risk modeling and risk strategy.
Salary Tables
India Salary & Employment Outlook • 18
Financial Services
Salary (INR Lacs)
Roles Associate VP Director Managing Director
CitiesBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
Mumbai
Corporate Finance/M&A 45-65 55-75 75-95 85-110 100-130 120-150 150-200 175-250
Salary (INR Lacs)
Roles Associate VP Director Managing Director
CitiesBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
Mumbai
Corporate Finance/M&A 20-35 30-45 45-65 50-75 75-95 85-105 100-150 125-175
Front Office – Investment Banking
MNC banks
Domestic banks and NBFCs
Please note:
1. Salaries are quoted as CTC (cost to company including basic salary, HRA, other allowance and retirals). 2. All salaries are median ranges.
Salary Tables
India Salary & Employment Outlook • 19
Financial Services
Salary (INR Lacs)
Roles Associate VP Principal/Director Managing Director
CitiesBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
Mumbai
Global Fund 45-65 55-75 75-95 85-105 110-200 120-240 200-300 250-350
Fund Size USD 200-700 mn 35-55 45-65 65-85 75-95 90-120 100-150 125-175 150-250
Fund Size <USD 200 mn 25-35 35-45 45-55 55-65 65-85 75-95 100-150 120-175
Front Office – Private Equity & Venture Capital
Salary (INR Lacs)
Roles AVP VP Director Managing Director
CitiesBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
Mumbai
Private Bankers 15-25 15-30 30-55 35-60 50-75 60-100 - -
Salary (INR Lacs)
Roles Associate VP Director Managing Director
CitiesBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
Mumbai
Private Bankers 10-20 12-30 25-50 30-55 45-70 50-75 - -
Front Office – Private Banking
MNC banks
Domestic banks and NBFCs
Please note:
1. Salaries are quoted as CTC (cost to company including basic salary, HRA, other allowance and retirals). 2. All salaries are median ranges.
Salary Tables
India Salary & Employment Outlook • 20
Financial Services
Salary (INR Lacs)
Roles AVP VP Director Managing Director
CitiesBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
Mumbai
MNC Banks 17-27 20-30 30-55 35-60 55-90 60-100 90+ 100+
Domestic Banks 16-22 18-25 28-45 30-55 45-75 50-80 75+ 80+
NBFCs 14-20 16-22 22-40 24-45 40-70 45-75 70+ 75+
Salary (INR Lacs)
Roles AVP VP Director Managing Director
CitiesBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
Mumbai
MNC Banks 15-22 17-25 25-50 30-55 50-85 55-90 85+ 90+
Domestic Banks 14-20 15-22 22-45 25-50 40-75 45-80 75+ 80+
NBFCs 13-18 14-20 20-40 22-45 40-70 40-75 70+ 75+
Salary (INR Lacs)
Roles AVP VP Director Managing Director
CitiesBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
Mumbai
MNC Banks 15-22 17-25 25-50 30-55 50-85 55-90 85+ 90+
Domestic Banks 14-20 15-22 22-45 25-50 40-75 45-80 75+ 80+
NBFCs 13-18 14-20 20-40 22-45 40-70 40-75 70+ 75+
Corporate Banking (Sales Function)
Corporate Banking (Credit Function)
Corporate Banking (Product Function)
Please note:
1. Salaries are quoted as CTC (cost to company including basic salary, HRA, other allowance and retirals). 2. All salaries are median ranges.
Salary Tables
India Salary & Employment Outlook • 21
Financial Services
Salary (INR Lacs)
Roles AVP VP Director Managing Director
CitiesBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
Mumbai
CFO - - - - 65-85 70-90 100+ 100+
Financial Reporting 22-32 25 -35 32-55 40-60 55-85 60-90 100+ 100+
Tax Accountant 22-32 25 -35 32-55 40-60 55-85 60-90 100+ 100+
Management Reporting 22-32 25 -35 32-55 40-60 55-85 60-90 100+ 100+
Legal Entity Control 22-32 25 -35 32-55 40-60 55-85 60-90 100+ 100+
Regulatory Reporting 22-32 25 -35 32-55 40-60 55-85 60-90 100+ 100+
Salary (INR Lacs)
Roles AVP VP Director Managing Director
CitiesBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
Mumbai
CFO 18-28 20-30 28-45 30-50 55-75 55-80 75+ 80+
Financial Reporting 18-28 20-30 28-45 30-50 45-65 50-70 70+ 80+
Tax Accountant 18-28 20-30 28-45 30-50 45-65 50-70 70+ 80+
Management Reporting 18-28 20-30 28-45 30-50 45-65 50-70 70+ 80+
Legal Entity Control 18-28 20-30 28-45 30-50 45-65 50-70 70+ 80+
Regulatory Reporting 18-28 20-30 28-45 30-50 45-65 50-70 70+ 80+
Finance – Central Finance
MNC banks and captives across India
Domestic financial institutions and third party consulting companies providing solution to banking clients
Please note:
1. Salaries are quoted as CTC (cost to company including basic salary, HRA, other allowance and retirals). 2. All salaries are median ranges.
Salary Tables
India Salary & Employment Outlook • 22
Financial Services
Salary (INR Lacs)
Roles AVP VP Director Managing Director
CitiesBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
Mumbai
Money Market 22-32 25-35 32-60 35-60 60-90 60-90 100+ 100+
Equities 22-32 25-35 32-60 35-60 60-90 60-90 100+ 100+
Commodities & Derivatives 22-32 25-35 32-60 35-60 60-90 60-90 100+ 100+
Salary (INR Lacs)
Roles AVP VP Director Managing Director
CitiesBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
Mumbai
Money Market 18-28 20-30 28-45 30-50 45-65 50-70 70+ 80+
Equities 18-28 20-30 28-45 30-50 45-65 50-70 70+ 80+
Commodities & Derivatives 18-28 20-30 28-45 30-50 45-65 50-70 70+ 80+
Finance – Product Control
MNC banks and captives across India
Domestic financial institutions and third party consulting companies providing solution to banking clients
Please note:
1. Salaries are quoted as CTC (cost to company including basic salary, HRA, other allowance and retirals). 2. All salaries are median ranges.
Salary Tables
India Salary & Employment Outlook • 23
Financial Services
Salary (INR Lacs)
Roles AVP VP Director Managing Director
CitiesBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
Mumbai
Head of Operations/COO - - - - 60-90 60-100 90+ 100+
Project Management 22–32 25-35 32-50 35-55 50-80 55-85 80+ 85+
Quality & Change Management 22–32 25-35 32-50 35-55 50-80 55-85 80+ 85+
Transitions 22–32 25-35 32-50 35-55 50-80 55-85 80+ 85+
Payments & Cash Management 22–32 25-35 32-50 35-55 50-80 55-85 80+ 85+
Salary (INR Lacs)
Roles AVP VP Director Managing Director
CitiesBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
Mumbai
Head of Operations/COO - - - - 50-80 60-85 80+ 85+
Project Management 18-28 20-30 28-40 30-45 45-65 50-65 65+ 70+
Quality & Change Management 18-28 20-30 28-40 30-45 45-65 50-65 65+ 70+
Transitions 18-28 20-30 28-40 30-45 45-65 50-65 65+ 70+
Payments & Cash Management 18-28 20-30 28-40 30-45 45-65 50-65 65+ 70+
Operations
MNC banks and captives across India
Domestic financial institutions and third party consulting companies providing solution to banking clients
Please note:
1. Salaries are quoted as CTC (cost to company including basic salary, HRA, other allowance and retirals). 2. All salaries are median ranges.
Salary Tables
India Salary & Employment Outlook • 24
Financial Services
Salary (INR Lacs)
Roles AVP VP Director Managing Director
CitiesBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
Mumbai
Client Servicing 20-28 20-30 28-45 30-50 45-70 50-75 70+ 75+
Trade Support/Capture 20-28 20-30 28-45 30-50 45-70 50-75 70+ 75+
Reference Data 20-28 20-30 28-45 30-50 45-70 50-75 70+ 75+
Corporate Actions 20-28 20-30 28-45 30-50 45-70 50-75 70+ 75+
Business Management 22-32 25-35 32-50 35-55 50-80 55-85 80+ 85+
Change Management 22-32 25-35 32-50 35-55 50-80 55-85 80+ 85+
Fund Administration 20-28 20-30 28-45 30-50 45-70 50-75 70+ 75+
Salary (INR Lacs)
Roles AVP VP Director Managing Director
CitiesBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
Mumbai
Client Servicing 18-28 20-30 28-40 30-45 45-65 50-65 65+ 70+
Trade Support/Capture 18-28 20-30 28-40 30-45 45-65 50-65 65+ 70+
Reference Data 18-28 20-30 28-40 30-45 45-65 50-65 65+ 70+
Corporate Actions 18-28 20-30 28-40 30-45 45-65 50-65 65+ 70+
Business Management 20-28 20-30 28-45 30-50 45-70 50-75 70+ 75+
Change Management 20-28 20-30 28-45 30-50 45-70 50-75 70+ 75+
Fund Administration 18-28 20-30 28-40 30-45 45-65 50-65 65+ 70+
Operations – Middle Office
MNC banks and captives across India
Domestic financial institutions and third party consulting companies providing solution to banking clients
Please note:
1. Salaries are quoted as CTC (cost to company including basic salary, HRA, other allowance and retirals). 2. All salaries are median ranges.
Salary Tables
India Salary & Employment Outlook • 25
Financial Services
Salary (INR Lacs)
Roles AVP VP Director Managing Director
CitiesBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
Mumbai
Internal Audit 22-32 25-35 32-50 35-55 50-80 55-85 80+ 85+
KYC/AML (Anti Money Laundering) 20-30 20-30 30-45 30-45 45-70 45-75 70+ 75+
Regulatory Compliance 22-32 25-35 32-50 35-55 50-80 55-85 80+ 85+
Market Risk 22-35 25-40 35-60 35-60 55-80 55-85 80+ 85+
Credit Risk 22-32 25-35 32-50 35-55 50-80 55-85 80+ 85+
Operational Risk 22-32 25-35 32-50 35-55 50-80 55-85 80+ 85+
Salary (INR Lacs)
Roles AVP VP Director Managing Director
CitiesBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
Mumbai
Internal Audit 20-28 20-30 28-45 30-50 45-70 50-75 75+ 80+
KYC/AML (Anti Money Laundering) 22-32 25-35 32-50 35-55 50-80 55-85 80+ 85+
Regulatory Compliance 20-28 20-30 28-45 30-50 45-70 50-75 75+ 80+
Market Risk 22-32 25-35 32-50 35-55 50-80 55-85 80+ 85+
Credit Risk 20-28 20-30 28-45 30-50 45-70 50-75 75+ 80+
Operational Risk 20-28 20-30 28-45 30-50 45-70 50-75 75+ 80+
Audit, Compliance & Risk
MNC banks and captives across India
Domestic financial institutions and third party consulting companies providing solution to banking clients
Please note:
1. Salaries are quoted as CTC (cost to company including basic salary, HRA, other allowance and retirals). 2. All salaries are median ranges.
Salary Tables
India Salary & Employment Outlook • 26
Financial Services
Salary (INR Lacs)
Roles AVP VP Director Managing Director
CitiesBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
Mumbai
Marketing Analytics 23-35 25-36 35-52 36-55 52-80 54-85 85+ 90+
Risk Analytics 23-35 25-36 35-52 36-55 52-80 54-85 85+ 90+
Digital Analytics 23-35 25-36 35-52 36-55 52-80 54-85 85+ 90+
Statistical Modelers 23-35 25-36 35-52 36-55 52-80 54-85 85+ 90+
Analytics Consulting 25-37 25-38 38-52 40-55 55-80 55-85 85+ 90+
Big Data/Machine Learning 25-40 25-40 40-60 40-60 60-100 60-100 100+ 100+
Data Scientist 25-40 25-40 40-60 40-60 60-100 60-100 100+ 100+
Salary (INR Lacs)
Roles AVP VP Director Managing Director
CitiesBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
MumbaiBangalore/Chennai/ Delhi NCR
Mumbai
Marketing Analytics 20-30 20-32 30-45 32-47 45-70 45-75 75+ 80+
Risk Analytics 20-30 20-32 30-45 32-47 45-70 45-75 75+ 80+
Digital Analytics 20-30 20-32 30-45 32-47 45-70 45-75 75+ 80+
Statistical Modelers 20-30 20-32 30-45 32-47 45-70 45-75 80+ 80+
Analytics Consulting 20-32 20-34 32-47 35-48 50-75 50-80 85+ 85+
Big Data/Machine Learning 25-35 26-36 35-50 36-50 60-90 60-90 90+ 95+
Data Scientist 25-35 26-36 35-50 36-50 60-90 60-90 90+ 95+
Analytics
MNC banks and captives across India
Domestic financial institutions and third party consulting companies providing solution to banking clients
Please note:
1. Salaries are quoted as CTC (cost to company including basic salary, HRA, other allowance and retirals). 2. All salaries are median ranges.
India Salary & Employment Outlook • 27
Despite an employer-driven market with strong availability of talent, companies still experience post-offer acceptance uncertainties from candidates, especially from top talent who receive multiple offers. Providing opportunities for internal movement, the flexibility to relocate to cities of choice within India, and overseas transfers for high potential employees are strong retention strategies.
Established organisations in India are mostly hiring for replacement roles, with few new roles created for specialist positions in human resources self-service, compensations and benefits, and talent management (TM).
The good news is that we are starting to see the market pick up, with 65 per cent of candidates securing interviews with at least two employers concurrently.
Employers are now more attracted to candidates who have led initiatives and produced quality work. We have observed a clear preference to hire competent business school graduates over traditionally sought-after experienced leaders.
In-house HR professionals will be sought after in 2017. Local organisations are looking to institutionalise their HR function and are investing more in it by creating new roles. This is specific to Indian organisations that have historically run their businesses without any HR professionals or have only had an administrative and payroll function.
We also see a greater demand for HR professionals who possess regional and global exposure in talent acquisition. With the growing global economy, more companies are looking to create recruitment hubs in India, which requires such experience.
Hot jobs for 2017 include total rewards and TM specialists. Specialists should ideally know how to implement innovative compensation and benefit structures that include long and short-term incentive plans such as employee stock options (ESOPs). TM specialists are also needed to initiate learning programmes for high potential employees as more companies focus on retaining top talent.
Human Resources
Salary Tables
India Salary & Employment Outlook • 28
Human Resources
Salary (INR Lacs)
Experience 8-12 yrs 12-16 yrs 16+ yrs
Cities Delhi Mumbai Delhi Mumbai Delhi Mumbai
Head of Human Resources (Large companies) - - - - 120+ 150+
Head of Human Resources (Small/medium sized companies)
40-55 45-60 70-90 75-95 75+ 85+
HR Generalist/Business Partner 25-45 30-55 40-70 45-80 55+ 60+
Learning & Development 30-45 35-50 40-55 40-60 50+ 55+
Compensation & Benefits 30-45 35-55 40-70 50-80 60+ 65+
Talent Acquisition 20-30 25-35 40-50 45-60 50+ 55+
Talent Management/OD 30-45 30-55 45-55 50-70 60+ 60+
Industrial Relations 20-30 20-35 35-55 35-60 55+ 60+
HR Operations/Payroll/ HR IS 18-25 20-35 30-40 35-55 45+ 55+
HR Consulting 35-50 35-55 50-70 50-75 70+ 75+
Commerce & Industry
Large and middle capital companies/listed organisations
Small capital companies/non-listed organisations
Salary (INR Lacs)
Experience 8-12 yrs 12-16 yrs 16+ yrs
Cities Delhi Mumbai Delhi Mumbai Delhi Mumbai
Head of Human Resources (Large companies) - - 50-60 70-90 90+ 100+
Head of Human Resources (Small/medium sized companies)
20-30 25-35 32-46 35-50 45+ 55+
HR Generalist/Business Partner 18-30 20-32 25-40 30-50 40+ 45+
Learning & Development 16-28 20-30 25-35 30-40 40+ 45+
Compensation & Benefits 21- 33 23-35 35-42 35-45 45+ 50+
Talent Acquisition 18 -30 20-32 28-38 30-40 40+ 45+
Talent Management/OD 20 -35 25-35 35-45 35-50 45+ 50+
Industrial Relations 9-15 10-18 15-25 18-25 25+ 30+
HR Operations/Payroll/ HR IS 8-12 9-15 10-15 15-25 25+ 30+
HR Consulting 25-35 25-40 35-50 35-55 50+ 60+
Please note:
1. Salaries are quoted as CTC (cost to company including basic salary, HRA, other allowance and retirals). 2. All salaries are median ranges.
Salary Tables
India Salary & Employment Outlook • 29
Human Resources
Salary (INR Lacs)
Experience 8-12 yrs 12-16 yrs 16+ yrs
Cities Delhi Mumbai Delhi Mumbai Delhi Mumbai
Head of Human Resources (Large companies) - - - - 110+ 130+
Head of Human Resources (Small/medium sized companies)
- - 55-70 60-80 70+ 80+
HR Generalist/Business Partner 25-40 25-45 40-60 45-70 60+ 65+
Learning & Development 25-35 30-45 35-45 35-50 45+ 50+
Compensation & Benefits 22-35 22-40 40-60 45-70 55+ 60+
Talent Acquisition 20-30 25-35 35-55 40-60 50+ 60+
HR Operations/Payroll/ HR IS 18-25 20-30 30-40 35-55 45+ 55+
Salary (INR Lacs)
Experience 8-12 yrs 12-16 yrs 16+ yrs
Cities Delhi Mumbai Delhi Mumbai Delhi Mumbai
Head of Human Resources (Large companies) - - - - 60+ 70+
Head of Human Resources (Small/medium sized companies)
- - 30-50 40-60 50+ 60+
HR Generalist/Business Partner 20-25 25-35 25-40 30-45 50+ 55+
Learning & Development 15-25 20-35 25-40 30-45 40+ 45+
Compensation & Benefits 20-30 25-35 30-45 35-50 45+ 50+
Talent Acquisition 15-25 20-30 25-40 30-45 40+ 45+
HR Operations/Payroll/ HR IS 12-20 15-25 20-30 25-35 30+ 35+
Banking & Financial Services
Large and middle capital companies/listed organisations
Small capital companies/non-listed organisations
Please note:
1. Salaries are quoted as CTC (cost to company including basic salary, HRA, other allowance and retirals). 2. All salaries are median ranges.
India Salary & Employment Outlook • 30
Legal
More multinational corporations (MNCs) are entering the Indian market, creating a demand for highly qualified and experienced lawyers. Overall, recruitment activity in the country is relatively healthy, with the main challenge being matching the right skill sets to market demands.
Indian companies are moving towards having more balanced, diverse teams and hiring of female candidates is on the rise. This openness to workplace diversity is most prominent in the fast-moving consumer goods, financial services and infrastructure sectors.
PRIVATE PRACTICE
Top-tier law firms are reported to be the highest paying employers. MNCs also offer higher salaries to their in-house legal teams compared with local firms.
Private law firm employees have shown an increasing preference for in-house roles which offer better work-life balance. Another push factor is the increasing pressure on senior private practice lawyers, such as partners, to focus on business development.
IN-HOUSE CORPORATE
Emerging sectors like financial services and e-commerce are offering more competitive salaries to attract top talent in emerging markets, compared with infrastructure, manufacturing, energy and other core sectors.
Across industries, candidates with dual specialisation of legal and company secretarial (CS) skill sets are in high demand as companies seek to streamline teams and be more cost-efficient. More senior-level candidates are being sought after to lead legal, CS and compliance functions.
Demand for compliance officers in the healthcare and financial services industries has increased as companies now need to work closely with regulators.
In-house legal teams, being smaller in size, tend to hire more mid to senior-level legal professionals.
Salary Tables
India Salary & Employment Outlook • 31
Legal
Salary (INR Lacs)
Experience 3-5 yrs 5-10 yrs 10-15 yrs 15+ yrs
Cities Delhi Mumbai Delhi Mumbai Delhi Mumbai Delhi Mumbai
Lawyers - Private Practice 12-20 12-25 20-60 25-75 60-100 75-120 100+ 120+
Lawyers - In-House (All industries excluding Financial Services)
6-12 8-15 12-40 15-60 40-60 60-80 60+ 80+
Lawyers - In-House (Financial Services) 8-18 8-25 18-50 25-70 50-70 70-90 70+ 90+
Salary (INR Lacs)
Experience 3-5 yrs 5-10 yrs 10-15 yrs 15+ yrs
Cities Delhi Mumbai Delhi Mumbai Delhi Mumbai Delhi Mumbai
Company Secretary 6-10 6-12 10-20 12-24 20-40 24-50 40+ 50+
Lawyers
Company Secretaries (In-House)
Please note:
1. Salaries are quoted as CTC (cost to company including basic salary, HRA, other allowance and retirals). 2. All salaries are median ranges.
India Salary & Employment Outlook • 32
Procurement & Supply Chain
Over the last 12-18 months, e-commerce has driven the increasing popularity of third-party logistics (3PL) and last-mile delivery vendors. Such vendors provide capital and labour-intensive services such as transportation, warehousing, inventory management, freight forwarding, cross-docking and packaging.
With the Indian government approving pro-foreign direct investment (FDI) policies, demand for professionals with global logistics experience (including import/export, customs clearance and trade compliance) will increase.
The concept of a “Lean Supply Chain” has also gained popularity in recent years. To develop a lean supply chain, companies are looking at adapting technological improvements across the entire organisation.
Matrix structures within supply chain set-ups have seen a rise in popularity as well. Candidates with experience in such environments, especially with exposure to global stakeholders, are heavily in demand.
We have witnessed an increased demand for candidates with deep experience in planning functions (demand and supply, sales and operation planning) across different levels. In particular, we see heavy demand in the business to consumer space (consumer products, retail, e-commerce).
Due to the fluid external environments that are dependant on consumer spending patterns and government policies, talented strategists rather than pure play execution-oriented staff are being courted for their ability to lead key initiatives and projects leading to operational efficiency.
Average salary increment when switching jobs is approximately 18 per cent.
Salary Tables
India Salary & Employment Outlook • 33
Procurement & Supply Chain
FMCG/Retail & Healthcare/Pharma
Top business school graduates
Non business school graduates
Salary (INR Lacs)
Experience 3-5 yrs 5-10 yrs 10-15 yrs 15+ yrs
Cities Delhi Mumbai Delhi Mumbai Delhi Mumbai Delhi Mumbai
Procurement 12-30 14-30 25-45 25-45 40-75 40-75 75+ 75+
Logistics (Including Transportation, Warehousing)
12-30 14-30 25-45 25-45 40-75 40-75 75+ 75+
Supply Chain 15-30 15-30 30-50 30-50 45-80 45-80 75+ 75+
Sourcing 12-30 14-30 25-45 25-45 40-75 40-75 75+ 75+
Planning 12-30 14-30 25-45 25-45 40-65 40-65 65+ 65+
Salary (INR Lacs)
Experience 3-5 yrs 5-10 yrs 10-15 yrs 15+ yrs
Cities Delhi Mumbai Delhi Mumbai Delhi Mumbai Delhi Mumbai
Quality 6-12 6-12 12-28 12-29 25-45 25-45 40+ 40+
Procurement 6-15 6-15 15-30 15-30 25-50 25-50 45+ 45+
Logistics (Including Transportation, Warehousing)
6-15 6-15 15-30 15-30 25-45 25-45 40+ 40+
Supply Chain 6-15 6-15 15-30 15-30 25-45 25-45 40+ 40+
Sourcing 6-15 6-15 15-30 15-30 25-40 25-40 35+ 35+
Planning 6-15 6-15 15-30 15-30 25-40 25-40 35+ 35+
Please note:
1. Salaries are quoted as CTC (cost to company including basic salary, HRA, other allowance and retirals). 2. All salaries are median ranges.
Salary Tables
India Salary & Employment Outlook • 34
Procurement & Supply Chain
Captives/Shared Services
Industrial & Manufacturing
Salary (INR Lacs)
Experience 3-5 yrs 5-10 yrs 10-15 yrs 15+ yrs
Cities Delhi Mumbai Delhi Mumbai Delhi Mumbai Delhi Mumbai
Procurement Manager 14-20 16-20 15-35 15-35 - - - -
Vendor/Supplier Relationship Manager 14-20 16-20 15-35 15-35 - - - -
Strategic Sourcing Leader/Manager 14-20 16-20 15-35 15-35 - - - -
Category/Commodity Manager - - 15-40 15-40 30-50 30-50 60+ 60+
GM/Head of Procurement - - - - 40-60 40-60 60+ 60+
CPO/Director - - - - 40-60 40-60 60+ 60+
Salary (INR Lacs)
Experience 3-5 yrs 5-10 yrs 10-15 yrs 15+ yrs
Cities Delhi Mumbai Delhi Mumbai Delhi Mumbai Delhi Mumbai
Procurement Manager 12-25 14-30 25-45 30-45 - - - -
Sourcing 12-25 14-30 25-45 30-45 40-75 45-75 75+ 75+
Quality 8-12 8-12 12-25 12-25 25-50 25-50 50+ 50+
Head of Procurement - - - - 40-60 40-60 60+ 60+
Please note:
1. Salaries are quoted as CTC (cost to company including basic salary, HRA, other allowance and retirals). 2. All salaries are median ranges.
India Salary & Employment Outlook • 35
Sales & Marketing
Fast-moving consumer goods (FMCG) and pharmaceutical companies are launching different "Alternate Channels" to reach out to the consumer even though traditional trade still accounts for majority of the business. Demand for digital marketing skills has substantially increased due to this rising trend.
Rural businesses are experiencing aggressive growth in the FMCG and pharmaceutical industries, leading to increased demand for go-to-market professionals. In the urban sector, there is less scope to increase the number of touch points hence the major focus is to increase the sales from existing touch points by using activations, trade marketing & shopper marketing initiatives.
Large pharmaceuticals, medical devices and healthcare providers are increasingly hiring professional senior consultants to replace external consultancy firms to cut costs. Senior strategy consultants, particularly professionals with industry expertise in both consulting and commercial roles, are in high demand. There is a conscious move towards hiring high-calibre professionals to fill sales roles in the medical devices sector.
Noticeable growth in the local chemical industry has created a strong demand for senior professionals with multinational working experience. The overall growth of the industry creates a strong demand for senior sales and business professionals with a strong track record.
Organisations are investing a substantial amount of time and money into employee retention strategies, particularly targeting the retention of sales and P&L heads. Talent attrition has a huge impact on businesses because demand for the top 20 per cent of sales professionals is strong across most industries. Retention bonuses, employee stock ownership plans, internal transfer opportunities, and improved training and career path mapping are being widely adopted as strategies.
Salary Tables
India Salary & Employment Outlook • 36
Sales & Marketing
Consumer Goods
Candidates from premium business schools
Candidates from non top-tier business schools
Salary (INR Lacs)
Experience 3-5 yrs 5-10 yrs 10-15 yrs 15+ yrs
Cities Delhi Mumbai Delhi Mumbai Delhi Mumbai Delhi Mumbai
Sales/Channel Management 20-28 22-30 28-70 28-75 40-100 50-100 80+ 80+
Brand Management/Product Management 20-28 22-30 28-70 28-75 40-100 50-100 - -
Trade Marketing 20-28 22-30 28-70 28-75 40-100 50-100 80+ 80+
Category Management - - 28-70 28-75 40-100 50-100 80+ 80+
Communications & CSR 13-18 15-20 18-40 20-45 30-55 35-55 50+ 50+
Salary (INR Lacs)
Experience 3-5 yrs 5-10 yrs 10-15 yrs 15+ yrs
Cities Delhi Mumbai Delhi Mumbai Delhi Mumbai Delhi Mumbai
Sales/Channel Management 12-15 13-18 15-35 17-40 30-50 35-60 40+ 45+
Brand Management/Product Management 15-18 18-22 18-40 20-45 30-50 35-55 - -
Trade Marketing 12-15 13-16 15-35 18-40 25-45 30-50 40+ 45+
Category Management - - 18-40 20-45 30-50 35-55 40+ 45+
Communications & CSR 12-15 13-18 15-30 18-35 20-40 25-45 35+ 40+
Please note:
1. Salaries are quoted as CTC (cost to company including basic salary, HRA, other allowance and retirals). 2. All salaries are median ranges.
Salary Tables
India Salary & Employment Outlook • 37
Sales & Marketing
Pharmaceuticals
Top global pharmaceuticals/medical devices companies
Locally present pharmaceuticals/medical devices companies
Salary (INR Lacs)
Experience 3-5 yrs 5-10 yrs 10-15 yrs 15+ yrs
Cities Delhi Mumbai Delhi Mumbai Delhi Mumbai Delhi Mumbai
Sales 12-18 12-20 15-30 18-35 30-55 30-60 50+ 55+
Marketing 10-18 10-20 15-30 18-35 30-55 30-60 50+ 55+
Regulatory Affairs/QA/RA 6-12 6-12 10-20 12-24 20-30 24-35 30+ 35+
Communications & CSR 5-10 6-10 12-20 14-22 18-35 20-40 30+ 35+
Medical Affairs 7-12 8-15 12-18 15-25 15-28 25-40 30+ 35+
Salary (INR Lacs)
Experience 3-5 yrs 5-10 yrs 10-15 yrs 15+ yrs
Cities Delhi Mumbai Delhi Mumbai Delhi Mumbai Delhi Mumbai
Sales 6-10 8-12 10-20 12-22 18-35 22-40 35+ 40+
Marketing 8-13 10-15 12-22 15-25 22-38 25-42 38+ 42+
Regulatory Affairs/QA/RA 6-8 7-10 8-15 10-18 15-25 18-30 25+ 30+
Medical Affairs 6-10 8-12 10-20 12-22 18-30 22-35 25+ 35+
Please note:
1. Salaries are quoted as CTC (cost to company including basic salary, HRA, other allowance and retirals). 2. All salaries are median ranges.
Salary Tables
India Salary & Employment Outlook • 38
Sales & Marketing
Medical Devices
Top global pharmaceuticals/medical devices companies
Locally present pharmaceuticals/medical devices companies
Salary (INR Lacs)
Experience 3-5 yrs 5-10 yrs 10-15 yrs 15+ yrs
Cities Delhi Mumbai Delhi Mumbai Delhi Mumbai Delhi Mumbai
Sales 14-20 14-20 22-28 24-30 30-45 32-45 50+ 55+
Marketing 12-16 12-16 16-25 18-30 32-45 34-50 50+ 55+
Regulatory Affairs/QA/RA 6-12 6-12 12-20 14-24 22-32 25-35 33+ 35+
Clinical/Application/Product Specialist/Service 5-10 6-10 12-20 14-22 - - - -
Salary (INR Lacs)
Experience 3-5 yrs 5-10 yrs 10-15 yrs 15+ yrs
Cities Delhi Mumbai Delhi Mumbai Delhi Mumbai Delhi Mumbai
Sales 4-8 5-10 8-15 12-18 15-30 18-35 30+ 30+
Marketing 4-8 5-10 8-15 10-18 15-25 18-30 25+ 30+
Regulatory Affairs/QA/RA 4-8 5-10 8-12 10-15 12-18 15-20 20+ 22+
Clinical/Application/Product Specialist 4-6 5-8 10-15 10-15 - - - -
Please note:
1. Salaries are quoted as CTC (cost to company including basic salary, HRA, other allowance and retirals). 2. All salaries are median ranges.
Salary Tables
India Salary & Employment Outlook • 39
Sales & Marketing
Building Materials
Top global building materials companies
Locally present building materials companies
Salary (INR Lacs)
Experience 3-5 yrs 5-10 yrs 10-15 yrs 15+ yrs
Cities Delhi Mumbai Delhi Mumbai Delhi Mumbai Delhi Mumbai
Sales 10-25 10-25 25-40 25-35 40-80 35-50 60+ 60+
Pre-Sales/Specifications/B2B Marketing 12-20 12-20 18-40 20-35 30-70 35-50 50+ 60+
Project Management 12-20 12-20 18-40 20-35 30-40 35-50 40+ 50+
Salary (INR Lacs)
Experience 3-5 yrs 5-10 yrs 10-15 yrs 15+ yrs
Cities Delhi Mumbai Delhi Mumbai Delhi Mumbai Delhi Mumbai
Sales 6-15 6-15 12-25 15-25 25-50 25-50 40+ 40+
Pre-Sales/Specifications/B2B Marketing 6-12 6-12 10-25 12-25 20-40 25-50 40+ 40+
Project Management 4-12 6-12 10-20 12-25 20-40 25-50 30+ 40+
Please note:
1. Salaries are quoted as CTC (cost to company including basic salary, HRA, other allowance and retirals). 2. All salaries are median ranges.
Salary Tables
India Salary & Employment Outlook • 40
Sales & Marketing
Life Sciences
Industrial Equipment
Chemicals
Salary (INR Lacs)
Experience 3-5 yrs 5-10 yrs 10-15 yrs 15+ yrs
Cities Delhi Mumbai Delhi Mumbai Delhi Mumbai Delhi Mumbai
Sales 6-12 8-12 12-25 12-22 25-50 22-40 50+ 40+
Marketing 6-10 10-15 10-25 15-25 25-40 25-42 40+ 42+
Application Specialist 8-15 7-10 15-30 10-18 - - - -
Salary (INR Lacs)
Experience 3-5 yrs 5-10 yrs 10-15 yrs 15+ yrs
Cities Delhi Mumbai Delhi Mumbai Delhi Mumbai Delhi Mumbai
Sales 6-20 8-20 12-30 20-30 25-50 30-45 40+ 50+
Pre-Sales/B2B Marketing 6-12 6-15 10-25 15-25 20-40 25-40 40+ 40+
Project Management 4-10 6-15 10-20 15-25 20-40 25-40 30+ 50+
Salary (INR Lacs)
Experience 3-5 yrs 5-10 yrs 10-15 yrs 15+ yrs
Cities Delhi Mumbai Delhi Mumbai Delhi Mumbai Delhi Mumbai
Sales 8-15 8-15 12-25 15-35 25-40 35-50 40+ 50+
Marketing 8-12 8-15 10-25 15-30 20-40 30-50 40+ 50+
Application/Technical 6-12 6-15 10-25 15-30 18-30 30-50 30+ 50+
Please note:
1. Salaries are quoted as CTC (cost to company including basic salary, HRA, other allowance and retirals). 2. All salaries are median ranges.
INDIA
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