Bangalore topped the list as the country’s leading city for job creation and wage growth as it registered a 9.3 percent year-on-year increase, closely followed by Chennai and Delhi, a report said on Thursday. This growth underscores Bangalore’s reputation as a technology and business hub as the average monthly gross salary in Bangalore has reached Rs 29,500, making it the highest paying city in the country, according to the TeamLease Services Jobs and Salaries Primer report for FY24.
This report is based on an analysis of aggregate wages across the temporary and permanent rental markets.
This was closely followed by Chennai and Delhi, which reported strong wage growth of 7.5 percent and 7.3 percent, respectively, reflecting the competitive nature of these job markets, it noted.
The average monthly salary of Chennai stands at Rs 24,500 while in Delhi, it has reached Rs 27,800, according to the report.
Mumbai and Ahmedabad also reported strong wage growth, reinforcing their importance as key employment centers with the national capital offering a median salary of Rs 25,100, while Pune stands at Rs 24,700, maintaining competitive levels.
Meanwhile, the report revealed that in the industry, retail came out ahead as it grew by 8.4% of wages.
This trend was followed by consumer durables (5.2 per cent) and BFSI (5.1 per cent), both of which continue to offer strong growth opportunities for professionals, it said.
On the other hand, sectors such as logistics, FMCG, health and pharmacy, and construction and real estate showed a moderate increase, highlighting their continued demand for skilled professionals, the report said.
The highest paying industries include Telecommunications (Rs 29,200), Manufacturing, Engineering and Infrastructure (Rs 28,200), Healthcare and Pharmaceuticals (Rs 27,600), and Construction and Building (Rs 27,000).
“The report highlights a positive trend in India’s job market, with significant wage growth across cities and industries. Bangalore’s 9.3 percent wage increase and Retail’s impressive 8.4 percent increase point to the growing demand for specialized skills driving compensation trends. This is not ‘About and wage growth is about a profound change in the job market,” said TeamLease CEO-Staffing Kartik Narayan.
The narrowing of the pay gap between permanent and temporary roles in sectors such as consumer housing and construction and real estate has shown that companies are focusing on talent balance and long-term retention, he said.
“These trends highlight the growing importance of adaptability and professionalism in shaping the future of work in India,” added Narayan.