2024 India
Salary Guide

We are excited to announce the latest edition of the 2024 salary guide for India - RGF Salary Watch 2024. Encompassing more than 200 roles spanning various key sectors and career levels, this comprehensive resource equips you with the insights needed to navigate the market effectively.

2024 India Salary Guide

About the India Salary Watch Report

About the India Salary Watch Report

The RGF India Salary Watch report has been conducted to gain deeper insights into salary trends and data across various industries and job levels in India. This report relies on RGF's proprietary talent pool, encompassing nearly 10,000 candidates, collected between November 2022 and December 2023.

Key Salary Figures & Hot Jobs by Sector in India

Find out about the average salaries received by talent in India and the increments employers are willing to give each of the different sectors. The report also highlights "Hot jobs" with projected salary increments when switching jobs, along with the most in-demand skills employers are looking for.

Key Salary Figures & Hot Jobs by Sector in India

Projected Salary Increments for the hot jobs of 2024

Projected Salary Increments for the hot jobs of 2024 in India

Delve into our comprehensive India salary guide, providing detailed insights into salary trends and hiring strategies within key industries such as Consumer Goods, Industrial, Healthcare & Life Sciences, Financial Services, Corporate Services, and Technology & Digital.

Gain valuable information not only by industry, but also by function and specific roles, empowering you to make informed decisions in today's competitive job market.

Message from our Managing Director

2023 has been a challenging year both domestically in India and on a global scale. In India, we observed modest growth in hiring within non-IT sectors in 2023 as compared to the IT sector. While there were some movement within Indian IT companies, overall, the whole IT sector continued to be significantly impacted pulling the overall employment index down.

Looking ahead to 2024, we anticipate a year marked by cautious yet optimistic growth. Salaries are expected to increase year on year and opportunities for growth can be witnessed in the non-tech industries, especially the Renewable and Manufacturing sectors. This shift in hiring trend underscores the changing dynamics of our economic landscape, highlighting opportunities for growth beyond traditional IT domains.

With the increase in adoption of renewable energy and as India’s Manufacturing sector embraces AI technologies and IoT-driven processes, there has been a heightened demand for skilled professionals leading to an increase in salaries for such talent. With the gradual recovery of the Indian economy and the rise of mobile commerce, there has also been an upward trend for talent in the Consumer industry. Similarly, the ongoing digitalisation of businesses, talent with skills in data analytics and Data Science have increased in demand, driving salaries up.

Despite these positive indicators, hiring remaining cautious. With the upcoming political elections, businesses have adopted a prudent approach as they are uncertain of the potential ramifications on economic policies and market sentiments. Consequently, hiring efforts are primarily focused on leadership and management positions rather than expanding the workforce at large. We anticipate hiring activities to increase in the 2nd half of 2024, post-elections.

In this report, we will do a deep-dive into these trends and more in India’s salary landscape, examining developments in Industrial Manufacturing; Consumer Goods; Healthcare; Corporate Services; and Technology. We hope the insights will help steer you towards better hiring and employment decisions, and an overall more meaningful professional life this year.

Yours Sincerely,
Sachin Kulshrestha
Managing Director
RGF Professional Recruitment India
Message from our Managing Director