Bengaluru Leads Salary Growth in FY 23-24, Delhi Records Lowest Among Metros: TeamLease Report
Bengaluru Leads Salary Growth in FY 23-24, Delhi Records Lowest Among Metros: TeamLease Report
TeamLease Services has released its FY 2023-24 Jobs and Salary Increment Report, highlighting salary growth trends across Indian cities and industries. Bengaluru has emerged as the top city for salary hikes, while Delhi recorded the lowest growth among metro cities.
Top Cities for Salary Growth
- Bengaluru: Leading the chart with an average salary hike of 9.3%, thanks to its strong position as a tech and business hub. The average monthly salary in Bengaluru is the highest in India at ₹29,500.
- Chennai and Delhi: Chennai recorded a 7.5% salary hike with an average monthly salary of ₹24,500. Delhi reported a 7.3% hike, with an average salary of ₹27,800.
- Mumbai and Ahmedabad: These cities showed steady growth, with salaries ranging from ₹21,300 to ₹29,500. Mumbai’s average salary is ₹25,100, while Pune follows closely at ₹24,700.
Sector-Wise Salary Growth
- Retail: The retail sector saw the highest salary growth at 8.4%.
- Consumer Durables and BFSI: Growth in these sectors stood at 5.2% and 5.1%, respectively.
- Other industries like logistics, FMCG, healthcare, pharma, construction, and real estate recorded moderate growth.
Top-Earning Professions
- Telecom: Telecom professionals earn the highest average salary at ₹29,200 per month.
- Manufacturing and Infrastructure: These sectors offer an average monthly salary of ₹28,200.
The report also notes minimal differences in pay between permanent and temporary employees. Industries like consumer durables, real estate, agriculture, and agrochemicals reported salary growth between 6.3% and 8.1%.
