Manufacturing sector lowest paid at Rs 211.7/hr

“The rate at which the salaries in the sector are dipping could pose a challenge to attract new talent entering the marketplace,” the Monster Salary Index (MSI) for 2016 stated. 

The findings of the report indicate that manufacturing is the lowest paid sector with a median gross hourly salary of Rs 211.7.  Analysing various parameters, the report highlights that employees in the manufacturing sector with only secondary education earn Rs 101.4, which is 62.6 per cent less than post-graduates at Rs 270.8.  

“Manufacturing sector is the backbone for a mature economy as it fuels growth, productivity, employment and strengthens agriculture and service sectors,” the report said. “In India, the manufacturing output contributes about 16 per cent to the overall GDP and employs nearly 12-13 per cent of the labour force. Despite being significant for the Indian economy, the sector remains amongst lowest paid at Rs 211.7,” said Sanjay Modi, MD (APAC and ME), Monster.com. 

Owing to automation and technological disruption, availability of relevant skills and capabilities will be the key focus, going forward, Modi said.  “Taking hint from this overall structural transformation, there is an immediate need for India to marry human skills with automation in order to fulfil its ambition of becoming a manufacturing powerhouse. The focus should now be on re-skilling, upskilling, building relevant capabilities and creating jobs for the 10 million young people who enter the job market every year,” he said.