India's technology hub, Bengaluru, seems to be a paradise for job-seekers as the city offers the highest pay packages in the country.
The average annual package for junior-level workers (with work experience ranging between 0 and 6 years) stands at Rs 5.27 lakh, according to a study by global human resource consulting firm Randstad.
This is 15% more than the third-placed Mumbai (with average packages of Rs 4.6 lakh), despite the cost of living being far higher in the country's financial capital.
Besides Bengaluru, Hyderabad offers an average package of Rs 5 lakh to junior-level workers.
In the mid-experience level (6-15 years of work experience) and senior experience level, Bengaluru again tops with average packages of Rs 16.45 lakh and Rs 35.45 lakh, respectively.
The high packages in India's Silicon Valley have been driven by pay scales in the IT sector, which pays Rs 4.96 lakh to junior-level workers, Rs 15.09 lakh to mid-level workers and Rs 35.84 lakh to senior-level workers.
At the junior-level and top-level, the IT sector has emerged as a paymaster followed by professional services — which has emerged as the paymaster for the mid-tier workers with average salaries of Rs 15.3 lakh.
Surprisingly, despite reeling under severe stress, the telecom sector is among the top five paymasters at the junior-level and mid-level, paying annual packages worth Rs 4.43 lakh and Rs 14.71 lakh respectively.
"A period of stasis is the best time to push pause, reset the priorities and build towards future-proofing of the organisation. Talent with the 'right-fit' skills commands a significant premium over their peers and companies are not constrained by bell curves and averages when it comes to the salary structure for professionals with in-demand skills; evidenced by the findings of this report," said Paul Dupuis, MD & CEO, Randstad India.