RGF Salary Watch 2020 - India

1
Salary Watch 2020:

India
2 RGF Salary Watch: India
About this Report
RGF’s Salary Watch: India report has been conducted with

the aim of better understanding the salary trends and data
across all industries and job levels in India.
This report is based on the RGF-owned candidate pool
covering more than 200,000 candidates (collected from
February 2019 to February 2020) in our India database.
The definition of annual basic salary used throughout this
report does not include allowance, stock, bonus or any other
additional benefits, and the salary exchange rate used is
USD1 = INR72.
Due to the real-time nature of some of this data, RGF
encourages readers to use its insights at their discretion.
16
RGF Salary Watch: India 3
Table of Contents
About the Report 2
Table of Contents 3
India
Overview 5
Key Trends 8
Job Market Trends 9
Salary Data 13
References 26
About RGF 27
Overview of
India
Recovery Expected
Despite Slowing Economy
LABOR MARKET SIZE GDP
673 USD2.94
MILLION1 TRILLION2
FDI PMI
USD49 52.74
BILLION3
(2019 Key Index)
Once considered the fastest growing economy, India began experiencing a slowdown in the last
half of 2019 that has extended into 2020. This slowdown has impacted not just gross domestic
product, but the job market as well, which began experiencing a slump in late 20195.
As the COVID-19 pandemic hit India in early 2020, the country went into lockdown and the
government announced a series of fiscal stimulus packages amounting to $266 billion6 (as of
the middle of May 2020) in order to assist people who were unable to work during the lockdown
period, low-income households7, small businesses and the domestic manufacturing sector8.
It is hoped the stimulus packages will be a positive impact, both to fight a further economic
slowdown in the short term, and to promote growth in the long term.
Because the impact of COVID-19 has brought blows to the economy and job market, both
employers and employees are even more cautious when planning for new hires or changing roles.
”
Executive Salaries to be Impacted by COVID-19,
But Not In All Sectors
The COVID-19 pandemic has thrown a spanner in the works for everyone. Due to uncertainty in
the global economy, salaries across wide swaths of India’s job market will be severely impacted,
especially as several organizations are cutting salaries at the CXO level, varying from 10% to as
high as 50%. It is expected that the industries that will be most affected by salary cuts are the
aviation, automobile, oil & gas, hospitality, tourism, real estate, and manufacturing sectors.
That said, this is not occurring across all industries. Sectors where work from home has not
greatly impacted business relative to the above sectors – such as new technology, agricultural
chemicals and pharmaceuticals – will perhaps be able to provide increases in salary for employees,
but at modest levels. In the event that companies are able to offer increases, it is likely that the
average compensation hike will be 5% to 7% – and perhaps only for high performers.
For companies who are moving ahead in hiring senior and executive leaders, the pandemic has
disrupted both the recruitment process and the negotiating table.
Though recruiting leadership has been always been a complex process of ensuring the
candidate not only has the right experience, leadership style and performance track record,
as well as feeling confident that they are the right culture fit, have the desired soft skills and
forward-thinking perspective to move the company toward its goals, the process is even more
difficult now. Considering the uncertainty in the global and local economy, businesses will need
leaders who are able to drive sales, potentially pivot the company and, once things are stable,
spearhead future-proofing efforts, such as building an internal talent pipeline and assessing
leadership inside the organization annually.
Companies will need to be prepared to not only offer an excellent compensation package, but
provide stellar benefits, including flexible working options, health care, and financial benefits
such as performance-based earn-out models, stock options or profit sharing.
Sanjay R. Shastry
Managing Director,
”
RGF Executive Search India
”
Demand Remains Strong for Tech Skills Across
All Industries in India
The outbreak of COVID-19 has impacted the global economy, and the local Indian economy is
experiencing a deepened sense of VUCA (volatility, uncertainty, complexity, and ambiguity)
as business leaders and experts predict U-shaped and V-shaped recovery. These uncertainties
have pushed some companies to take a wary approach towards new plans, leading to hiring
freeze, salary cuts or, in some cases, layoffs.
That said, the Indian mid-tier and specialist market is colossal and so diverse that the impact of
COVID-19 on hiring is expected to be limited and short term. This is largely thanks to the Indian
government’s $266 billion in stimulus relief, which is expected to have positive effects on the
overall economy, which in turn should boost hiring sentiments in medium term to long term.
Overall, the Indian growth story seems intact, and it is expected that recruitment trends will
also bounce back in the near future. We are already seeing demand in specialty and niche
sectors, and the overall growth in sectors such as by technology, agriculture, consumer, power,
animal feed, chemical, packaging, outsourcing and healthcare is projected to remain intact.
In last few years, we have seen strong demand for skills like AI, big data, cloud computing,
cybersecurity, and R&D across sectors, and companies are paying adjusting salaries to pay a
premium in order to attract these sought-after candidates. Despite the economic setbacks from
the global pandemic, this trend is expected to continue.
For the jobs that are not top demand, we expect that a return to hiring will be slower because
the economic rebound will drive recruitment trends, and that disruption and change in
recruitment strategies is the likely scenario for most industries.
When receiving offers, jobseekers should be prepared to focus on more than just salary. It
is important to consider the complete 360-degree analysis of the opportunity, including the
”
possibility of growth and the value proposition, as well as the organization’s culture and ability
to withstand unexpected shocks in the near term.
Sachin Kulshrestha
Managing Director,
RGF Professional Recruitment India
Key Trends
Employers’ Annual Salary Employees’ Salary
Increment Range Increment Expectations
38%
when they
15%9 change employers10.
(Data given was collected by RGF before February 2020)
Additional Benefits Employees Look for

Compensation is not just about salary – talent in India are more likely to look for companies that
offer the following benefits11:
67%
64%
41%
PERFORMANCE- GUARANTEED PROFIT-SHARING
BASED BONUSES REMUNERATION, SCHEME SUCH
SUCH AS A FIXED AS STAFF EQUITY
BONUS AND
ALLOWANCE
Tech Companies Courting Talent with AI Skills

Tech companies of all stripes are big business in India, especially as they scale and grow their
workforces. Despite new measures that may limit some foreign direct investment12 and the recent
downward trend of both the job market and hiring sentiment, it is expected that tech companies
will still need talent – especially talent adept in artificial intelligence.
Because many of these companies need candidates skilled in new, sophisticated technology,
it’s expected that they will be looking to hire fresh graduates as well as mid-career and senior-
level professionals with on-the-pulse skill sets and leadership experience. To help prepare the
labor force for these new advances in technology, the Ministry of Electronics and Information
Technology has partnered with the National Association of Software and Services Companies to
provide free online courses in AI for anyone interested13. These professionals will be recruited not
only for their technical knowledge but because they are better prepared to work in fast-paced
workplaces that thrive on agility and flexibility.
Job Market
Trends
Talent Trends
Though salary is one of the top three factors talent in India consider when weighing a new job
role, it is sharply less important to candidates than the opportunity to expand their knowledge
and skills as well as the role’s title and responsibilities14. These are signs that the workforce
is more motivated by career advancement and development opportunities than the amount
of money they take home, and will be more interested in joining – and likely staying with – a
company that invests in employees.
68% 65% 47%

EXPAND KNOWLEDGE TITLE AND SALARY INCREMENT
& SKILLS RESPONSIBILITIES
Job Market Trends

Ecommerce driving digital and delivery employment boom
As ecommerce has gained popularity across India and more options for how to order goods
ranging from food to clothing to groceries have emerged, the need for more employees who
deliver goods ordered online has risen15. In the same vein, online businesses that provide on-
demand services such as home repair or beauty have also become a new way for these types of
tradespeople to find work, creating a new type of gig economy in India. To support these on-
demand services, websites and applications must be fully functional and able to scale, which
necessitates a higher need for tech talent, digital marketers, and customer support staff.
Ecommerce Directors with 15–20 Mobile Development Architects

years of experience earn up to with 10–15 years of experience
USD486,000 annually at global earn up to USD97,000 annually
MNCs at global MNCs
Marketing and Branding

CRM Managers with 10–15
Managers with 10-15 years
years of experience earn up
of experience earn up to
to USD56,000 annually at
USD111,000 annually at global
global MNCs
MNCs
Consumer goods manufacturing to resume

A pillar of India’s manufacturing sector, consumer goods manufacturing expanded in 2019 and
remained strong in early 2020, especially thanks to international demand16. Though this global
demand has slowed sharply due to COVID-19, there is still optimism looking forward due to how
well the manufacturing fared in February and March 202017. Once the pandemic eases and global
economies begin to recover, the World Trade Organization estimated in April 2020 that rebounds for
the sector could be between 21%–24%18. When the demand for consumer goods resumes, so, too,
will hiring.
Manufacturing Production & R&D Managers with 10–15 years Quality Management Engineers with
Operations Directors with 15–20 of experience can earn up to 3–5 years of experience can earn up
years of experience can earn up to USD33,000 annually at an MNC to USD17,000 annually at an MNC
USD139,000 annually at an MNC
Combatting the Talent Crunch

As a global leader in IT, it is imperative for India’s workforce to evolve so that more people have
skill sets specific to Industry 4.0 capabilities. The country has seen a widening skill gap for
several years as artificial intelligence, Internet of Things, machine learning, blockchain and other
advanced software rise to prominence, so much so that the World Economic Forum forecast that
half of India’s workforce will need reskilling by 202219.
Though fresh graduates with these skills can help to fill the talent gap, the current industry
revolution is occurring at the same time as an economic slowdown and contraction in hiring. To
counter this, many businesses are shifting focus to workforce development efforts that span an
employee’s entire career in order to ensure skills are sharp and relevant, and the government has
launched a platform to assist with these endeavors20. The World Economic Forum encourages
this sort of partnership between businesses, governments, and even education institutions so as
to create more robust and revelation employee education and training as more companies and
roles evolve due to digital transformation.
In addition to these measures, employers can consider bringing in freelancers or contract workers
that can provide niche skills or knowledge for specific projects, as well as take another look at
their recruitment strategies, candidate experience and onboarding processes in order to ensure
they are modern, streamlined, and efficient.
What employers are looking for in talent:
RELEVANT KNOWLEDGE AGILITY CULTURE FIT22

AND EXPERIENCE21
Hot Jobs
Industrial Financial Services
Smart Manufacturing • Fixed Income Sales
• Application Engineering • Fixed Income Trading
• Energy Storage • Relationship Management
• Manufacturing, Production & • Transaction Banking Sales
Operations
• Quality Management
• R&D Healthcare & Life Science
• Sales & Marketing • Medical
• Senior Management • R&D
• Production & Operations
Technology, Internet & • Quality
Telecommunications • Regulatory Affairs
• AI and Data Science

• Analytics Corporate Services
• Big Data & Business Intelligence
• Finance & Accounting
• Cybersecurity
• HR
• Front-End & Back-End
Engineering • Legal & Compliance
• Senior Management • Supply Chain
• Software & Hardware
Development
Consumer Goods & Retail

• Business Strategy & Commercial
• CRM & Account Management
• Digitalization
• Ecommerce
• Marketing & Branding
• Sales & Business Development
• Senior Management
India
Salary Data
Key Finding
Though roles in the Financial Services
and Healthcare and Life Sciences
industries still command the highest
average salaries, the demand for talent
in the Technology industry is strong –
for example, experienced Data Science
Managers as well as Cybersecurity
Directors can earn above USD100,000
at large local companies.
Industrial - Smart Manufacturing

ANNUAL SALARY RANGE ANNUAL SALARY RANGE
YEARS OF (UNIT: 1,000 IN USD) (UNIT: 1,000 IN INR)
FUNCTION POSITION COMPANY TYPE
EXPERIENCE
MIN MAX MIN MAX
Global MNC 278 417 20,000 30,000
CEO/President 20+ Large Local/Global MNC HQ 139 278 10,000 20,000
SME 111 208 8,000 15,000
Global MNC 111 278 8,000 20,000
Senior Management GM 15-20 Large Local/Global MNC HQ 97 208 7,000 15,000
SME 97 208 7,000 15,000
Global MNC 83 250 6,000 18,000
VP 15-20 Large Local/Global MNC HQ 83 208 6,000 15,000
SME 63 139 4,500 10,000
Global MNC 63 118 4,500 8,500
Director 15-20 Large Local/Global MNC HQ 56 107 4,000 7,700
SME 44 72 3,200 5,200
Global MNC 19 33 1,400 2,400
Manager 10-15 Large Local/Global MNC HQ 15 28 1,100 2,000
SME 17 29 1,200 2,100

R&D
Global MNC 19 28 1,400 2,000
Supervisor 5-10 Large Local/Global MNC HQ 17 25 1,200 1,800
SME 13 22 900 1,550
Global MNC 8 15 550 1,100
Engineer 3-5 Large Local/Global MNC HQ 7 15 470 1,050
SME 7 15 500 1,050
Global MNC 97 111 7,000 8,000
SME 69 90 5,000 6,500
Global MNC 21 35 1,500 2,500

Application
Engineering
SME 14 22 1,000 1,600
Global MNC 10 14 700 1,000
SME 7 11 500 800


EXPERIENCE
MIN MAX MIN MAX
Global MNC 83 139 6,000 10,000
SME 63 83 4,500 6,000
Global MNC 42 56 3,000 4,000
Manufacturing, SME 17 25 1,200 1,800
Production &
Operation Global MNC 24 35 1,700 2,500
SME 11 17 800 1,200
Global MNC 11 17 800 1,200
SME 4 8 300 600
Global MNC 97 139 7,000 10,000
SME 63 90 4,500 6,500
Global MNC 42 56 3,000 4,000
Quality SME 17 25 1,200 1,800
Management Global MNC 24 35 1,700 2,500
SME 11 17 800 1,200
Global MNC 11 17 800 1,200
SME 4 8 300 600
Global MNC 35 61 2,500 4,400
SME 31 56 2,200 4,000
Project Global MNC 21 28 1,500 2,000

Management Manager 10-15 Large Local/Global MNC HQ 17 25 1,200 1,800
SME 14 21 1,000 1,500
Global MNC 9 12 650 850

Engineer 3-5
Large Local/Global MNC HQ 7 11 500 800

EXPERIENCE
MIN MAX MIN MAX
Global MNC 51 83 3,700 6,000
Sales Director 15-20 Large Local/Global MNC HQ 47 90 3,400 6,500
SME 53 90 3,800 6,500
Global MNC 35 56 2,500 4,000
Sales Manager 10-15 Large Local/Global MNC HQ 31 51 2,200 3,700
SME 25 44 1,800 3,200
Global MNC 42 63 3,000 4,500

Business
Development 10-15 Large Local/Global MNC HQ 38 58 2,700 4,200
Manager
SME 31 49 2,200 3,500
Sales & Marketing
Global MNC 24 31 1,700 2,200
Account Executive 5-10 Large Local/Global MNC HQ 21 28 1,500 2,000
SME 17 26 1,200 1,900
Global MNC 83 125 6,000 9,000

Marketing
15-20 Large Local/Global MNC HQ 69 111 5,000 8,000
Director
SME 56 90 4,000 6,500
Global MNC 35 63 2,500 4,500

Marketing
Manager
SME 25 44 1,800 3,200
= Hot jobs
• Definition of annual salary range refers to basic salary, not include allowance, stock, bonus or any other additional benefits.
• Exchange rate: USD1 = INR72
Technology, Internet & Telecommunications

FUNCTION POSITION EXPERIENCE COMPANY TYPE
MIN MAX MIN MAX
Global MNC 278 417 20,000 30,000
CEO 20+ Large Local/Global MNC HQ 208 347 15,000 25,000

SME 125 181 9,000 13,000
Senior Management
Global MNC 139 174 10,000 12,500
SME 97 125 7,000 9,000
Global MNC 111 139 8,000 10,000

SME 83 111 6,000 8,000
Global MNC 111 139 8,000 10,000
R&D Architect 10-15 Large Local/Global MNC HQ 97 125 7,000 9,000
SME 83 111 6,000 8,000
Global MNC 25 42 1,800 3,000
Engineer 5-10 Large Local/Global MNC HQ 17 35 1,200 2,500
SME 14 21 1,000 1,500
Global MNC 97 125 7,000 9,000

SME 69 83 5,000 6,000
Global MNC 56 97 4,000 7,000
Mobile Manager/
Development Architect
SME 35 56 2,500 4,000
Global MNC 28 56 2,000 4,000
SME 14 28 1,000 2,000
Global MNC 139 250 10,000 18,000

SME 97 167 7,000 12,000
Global MNC 69 139 5,000 10,000
Manager/
AI and Data Science 10-15 Large Local/Global MNC HQ 63 104 4,500 7,500
Architect
SME 49 69 3,500 5,000
Global MNC 28 49 2,000 3,500

SME 21 35 1,500 2,500

EXPERIENCE
MIN MAX MIN MAX
Global MNC 97 125 7,000 9,000
SME 69 83 5,000 6,000
Global MNC 69 83 5,000 6,000
Front End
& Back End Manager/Architect 10-15 Large Local/Global MNC HQ 49 67 3,500 4,800
Engineering
SME 28 46 2,000 3,300
Global MNC 42 62 3,000 4,500
SME 21 35 1,500 2,500
Global MNC 97 125 7,000 9,000
SME 69 83 5,000 6,000
Global MNC 35 84 2,492 6,052
Cyber Security Manager/Architect 10-15 Large Local/Global MNC HQ 25 42 1,780 2,990
SME 14 31 997 2,207
Global MNC 25 49 1,780 3,560
SME 10 21 712 1,495
Global MNC 97 125 7,000 9,000
SME 69 83 5,000 6,000
Global MNC 62 104 4,500 7,500
Big Data & Business
Manager/Architect 10-15 Large Local/Global MNC HQ 49 101 3,500 7,300
Intelligence
SME 42 74 3,000 5,300
Global MNC 42 56 3,000 4,000
SME 14 26 1,000 1,900
Global MNC 139 278 10,000 20,000
SME 111 181 8,000 13,000
Global MNC 111 208 8,000 15,000
Software &
Hardware Manager/Architect 10-15 Large Local/Global MNC HQ 94 167 6,800 12,000
Development
SME 69 125 5,000 9,000
Global MNC 21 42 1,500 3,000
SME 11 35 800 2,500
= Hot jobs
Financial Services
EXPERIENCE
MIN MAX MIN MAX
Global MNC 208 278 15,000 20,000

Managing
20+ Large Local/Global MNC HQ 111 167 8,000 12,000
Director
SME 97 139 7,000 10,000
Relationship Global MNC 90 118 6,500 8,500

Management
SME 56 83 4,000 6,000
Associate 5-10 Global MNC 42 97 3,000 7,000
Analyst 3-5 Global MNC 24 42 1,700 3,000
Global MNC 139 167 10,000 12,000

Managing
Director
SME 83 111 6,000 8,000
Transaction Global MNC 83 104 6,000 7,500

Banking Sales
SME 56 69 4,000 5,000
Global MNC 167 250 12,000 18,000

Managing
20+
Director Large Local/Global MNC HQ 139 208 10,000 15,000
Investment Portfolio
Global MNC 111 194 8,000 14,000
Management
Director 15-20
Large Local/Global MNC HQ 90 139 6,500 10,000
Global MNC 125 167 9,000 12,000

Managing
Director
SME 83 111 6,000 8,000
Global MNC 83 111 6,000 8,000

Fixed Income Sales
SME 49 69 3,500 5,000


EXPERIENCE
MIN MAX MIN MAX
Global MNC 139 208 10,000 15,000

Managing
Director
SME 76 125 5,500 9,000
Fixed Income Trading Global MNC 111 139 8,000 10,000
SME 69 90 5,000 6,500
Global MNC 278 347 20,000 25,000

Managing
20+
Director Large Local/Global MNC HQ 243 347 17,500 25,000
Investment Banking Global MNC 104 208 7,500 15,000

Director 15-20
Large Local/Global MNC HQ 83 167 6,000 12,000
= Hot jobs
Healthcare and Life Science

EXPERIENCE
MIN MAX MIN MAX
Global MNC 208 347 15,000 25,000
SME 111 153 8,000 11,000
Global MNC 153 236 11,000 17,000
CXO 20+ Large Local/Global MNC HQ 153 194 11,000 14,000
SME 97 153 7,000 11,000
Senior Global MNC 125 181 9,000 13,000

management/
BU Head 20+ Large Local/Global MNC HQ 111 139 8,000 10,000
General
Management SME 83 125 6,000 9,000
Global MNC 104 153 7,500 11,000
GM 15-20 Large Local/Global MNC HQ 111 139 8,000 10,000
SME 83 111 6,000 8,000
Global MNC 139 181 10,000 13,000
SME 83 125 6,000 9,000
Global MNC 181 236 13,000 17,000
SME 125 174 9,000 12,500
Global MNC 83 97 6000 7000
R&D Manager 10-15 Large Local/Global MNC HQ 56 83 4000 6000
SME 56 76 4000 5500
Global MNC 38 49 2700 3500
Researcher 5-10 Large Local/Global MNC HQ 35 42 2500 3000
SME 28 42 2000 3000
Global MNC 208 236 15,000 17,000
Doctor 15-20 Large Local/Global MNC HQ 208 236 15,000 17,000
SME 139 167 10,000 12,000

Medical
Global MNC 167 222 12,000 16,000
SME 139 181 10,000 13,000
Global MNC 139 167 10,000 12,000

Production &
Operations
SME 97 153 7,000 11,000

EXPERIENCE
MIN MAX MIN MAX
Global MNC 153 194 11,000 14,000
Quality Director 15-20 Large Local/Global MNC HQ 111 139 8,000 10,000
SME 83 139 6,000 10,000
Global MNC 153 174 11,000 12,500
SME 111 139 8,000 10,000
Global MNC 56 63 4,000 4,500

Regulatory Affairs
SME 49 56 3,500 4,000
Non- Global MNC 25 28 1,800 2,000

5-10
management Large Local/Global MNC HQ 25 28 1,800 2,000
Global MNC 153 174 11,000 12,500
Sales Director 15-20 Large Local/Global MNC HQ 111 153 8,000 11,000
SME 111 139 8,000 10,000
Global MNC 56 83 4,000 6,000

Marketing
Sales & Marketing 15-20 Large Local/Global MNC HQ 49 69 3,500 5,000
Director
SME 42 69 3,000 5,000
Global MNC 42 56 3,000 4,000

Marketing
Manager
SME 35 42 2,500 3,000
= Hot jobs
Consumer Goods & Retail

EXPERIENCE
MIN MAX MIN MAX
Global MNC 417 833 30,000 60,000
SME 125 208 9,000 15,000
Global MNC 243 347 17,500 25,000
CXO 20+ Large Local/Global MNC HQ 104 139 7,500 10,000
SME 69 104 5,000 7,500
Senior management
Global MNC 208 417 15,000 30,000
BU Head 20+ Large Local/Global MNC HQ 139 278 10,000 20,000
SME 83 111 6,000 8,000
Global MNC 104 167 7,500 12,000
VP/GM 15-20 Large Local/Global MNC HQ 97 125 7,000 9,000
SME 63 104 4,500 7,500
Global MNC 250 347 18,000 25,000
Director/Head 15-20 Large Local/Global MNC HQ 208 250 15,000 18,000

SME 139 208 10,000 15,000
Global MNC 63 90 4,500 6,500
Sales & Business Manager/Senior
Development Manager
SME 38 58 2,700 4,200
Global MNC 32 44 2,300 3,200
SME 21 31 1,500 2,200
Global MNC 208 278 15,000 20,000

SME 104 125 7,500 9,000
Global MNC 49 83 3,500 6,000
Business Strategy &
Commercial
SME 35 49 2,500 3,500
Global MNC 28 42 2,000 3,000
SME 18 28 1,300 2,000
Global MNC 347 486 25,000 35,000

SME 118 243 8,500 17,500
Global MNC 76 97 5,500 7,000
E-commerce Manager 10-15 Large Local/Global MNC HQ 69 90 5,000 6,500
SME 56 76 4,000 5,500
Global MNC 49 63 3,500 4,500
SME 25 35 1,800 2,500

EXPERIENCE
MIN MAX MIN MAX
Global MNC 42 56 3,000 4,000
CRM & Account SME 19 28 1,400 2,000

management Global MNC 28 42 2,000 3,000
SME 11 18 800 1,300
Global MNC 347 486 25,000 35,000
SME 139 243 10,000 17,500
Global MNC 56 83 4,000 6,000

Digitalization Manager 10-15 Large Local/Global MNC HQ 42 56 3,000 4,000
SME 25 31 1,800 2,200
Global MNC 28 42 2,000 3,000

SME 10 15 700 1,100
Global MNC 208 278 15,000 20,000
SME 104 139 7,500 10,000
Global MNC 83 111 6,000 8,000

Marketing &
Branding
SME 35 42 2,500 3,000
Global MNC 42 69 3,000 5,000
SME 14 21 1,000 1,500
= Hot jobs
Corporate Services
EXPERIENCE
MIN MAX MIN MAX
Global MNC 97 278 7,000 20,000
CHRO 20+ Large Local/Global MNC HQ 83 208 6,000 15,000
SME 69 139 5,000 10,000
Global MNC 97 167 7,000 12,000

HR
SME 69 139 5,000 10,000
Manager 10-15 Global MNC 76 97 5,500 7,000
Supervisor 5-10 Global MNC 35 56 2,500 4,000
Global MNC 125 278 9,000 20,000
CFO 20+ Large Local/Global MNC HQ 125 278 9,000 20,000
SME 83 208 6,000 15,000
Finance & Accounting Global MNC 111 208 8,000 15,000
SME 56 139 4,000 10,000
Global MNC 111 250 8,000 18,000

General
Counsel
SME 69 139 5,000 10,000
Global MNC 97 167 7,000 12,000
Legal & Complaince Director 15-20 Large Local/Global MNC HQ 83 139 6,000 10,000
SME 56 139 4,000 10,000
Specialist 3-5 Global MNC 8 14 600 1,000
Global MNC 111 208 8,000 15,000
SME 83 167 6,000 12,000

Supply Chain
Specialist 3-5 Global MNC 21 42 1,500 3,000
Global MNC 97 208 7,000 15,000

General Affairs,
Admin & Secretary
SME 69 139 5,000 10,000
= Hot jobs
26 Salary
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References
1. Calculation based on 49.3% participation rate and a population of 1.327 billion. As of December 2019 https://www.worldometers.info/
world-population/india-population/
2. As of November 2019 https://www.investopedia.com/insights/worlds-top-economies/#5-india
3. As of 2019 https://www.thehindubusinessline.com/economy/india-among-top-10-fdi-recipients-attracts-49-billion-inflows-in-2019-un-re-
port/article30608178.ece
4. As of December 2019 https://www.statista.com/statistics/275297/purchasing-managers-index-pmi-in-india/
5. Care Ratings Study https://www.careratings.com/upload/NewsFiles/Economics/Expectations%20from%20Union%20Budget%20FY21.
pdf
6. https://edition.cnn.com/2020/05/13/business/india-stimulus-covid-19-intl-hnk/index.html
7. https://www.cnbc.com/2020/04/20/coronavirus-imf-forecasts-india-growth-rate-at-7point4-percent-in-2021.html
8. https://www.financialexpress.com/economy/covid-19-crisis-indias-latest-stimulus-package-among-largest-in-the-world/1956924/
9. 2020 RGF Talent in Asia Report
12. https://www.forbes.com/sites/krnkashyap/2020/05/14/indias-curbs-on-chinese-investments-compound-problems-for-its-startup-eco-
system/#3d0361a82c1a
13. https://eandt.theiet.org/content/articles/2020/04/view-from-india-ai-skills-essential-to-be-future-ready/
15. https://economictimes.indiatimes.com/jobs/how-the-online-shopping-boom-has-created-a-new-sector-of-employment/article-
show/73102077.cms?from=mdr
16. https://www.nielsen.com/in/en/press-releases/2019/nielsen-india-bets-big-on-fmcg-e-comm-growth-in-india/
17. https://www.nasdaq.com/articles/indias-factory-activity-slumped-to-record-low-in-april-pmi-2020-05-04
18. https://www.wto.org/english/news_e/pres20_e/pr855_e.htm
19. http://www3.weforum.org/docs/WEF_Future_of_Jobs_2018.pdf
20. https://inc42.com/buzz/govt-launches-prime-platform-for-upskilling-reskilling-professionals/
27 RGF Salary Watch: India 27
About RGF
RGF (Recruit Global Family) is the global brand of Recruit Group, which is the fourth largest
recruitment and information service company globally. Founded in 1960, the Recruit Group
creates and provides platforms that connect companies and consumers by offering Opportunities
for Life. RGF International Recruitment, under the Recruit Group, provides a wide range of
recruitment solutions in 11 countries and markets across Asia. We deliver optimal, cross-border
recruitment solutions at all levels and across all industries and functions, transcending national
and city boundaries through our three service brands, with the aim of unleashing the potential of
individual talents and employers in Asia.
Brand and Services

RGF Executive Search
Focuses on senior executives to middle management search in
order to fulfil organisational goals, strategic planning development
and overall decision making that affects the entire business
Senior organization.
Executives
• Mainland China, Hong Kong, Taiwan, India, Indonesia,

Japan, Malaysia, Singapore, Philippines, Vietnam, Thailand
RGF Professional Recruitment

Hires of managerial and specialist positions who are essential to
the real work of the business dealing with the people, customers
Middle
Managers
and teams driving the business cross-functionally. They can also
& Specialists be considered developmental candidates for executive senior
leadership positions.
• Mainland China, India, Japan, Singapore
RGF HR Agent
Fills a range of managerial, specialist and staff positions at
Japanese companies that require Japanese language skills.
Staff Draws on a deep understanding of Japanese companies with a
vast database of Japanese-speaking personnel to find the best
candidates.
• Mainland China, Hong Kong, Thailand, Indonesia,

Vietnam, India
Bó Lè Associates, Part of the RGF Executive Search brand, Bó Lè Associates provides

executive search services primarily in Mainland China, Hong Kong, and Taiwan.
www.rgf-hr.com

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1

Salary Watch 2020:

About this Report

RGF’s Salary Watch: India report has been conducted with

RGF Salary Watch: India 3

About the Report 2

(Data given was collected by RGF before February 2020)

Additional Benefits Employees Look for

Tech Companies Courting Talent with AI Skills

68% 65% 47%

Job Market Trends

Ecommerce Directors with 15–20 Mobile Development Architects

Marketing and Branding

Consumer goods manufacturing to resume

Combatting the Talent Crunch

What employers are looking for in talent:

RELEVANT KNOWLEDGE AGILITY CULTURE FIT22

• AI and Data Science

Consumer Goods & Retail

Industrial - Smart Manufacturing

Global MNC 278 417 20,000 30,000

CEO/President 20+ Large Local/Global MNC HQ 139 278 10,000 20,000

SME 111 208 8,000 15,000

Global MNC 111 278 8,000 20,000

Senior Management GM 15-20 Large Local/Global MNC HQ 97 208 7,000 15,000

SME 97 208 7,000 15,000

Global MNC 83 250 6,000 18,000

VP 15-20 Large Local/Global MNC HQ 83 208 6,000 15,000

SME 63 139 4,500 10,000

Global MNC 63 118 4,500 8,500

Director 15-20 Large Local/Global MNC HQ 56 107 4,000 7,700

SME 44 72 3,200 5,200

Global MNC 19 33 1,400 2,400

Manager 10-15 Large Local/Global MNC HQ 15 28 1,100 2,000

SME 17 29 1,200 2,100

Supervisor 5-10 Large Local/Global MNC HQ 17 25 1,200 1,800

SME 13 22 900 1,550

Global MNC 8 15 550 1,100

Engineer 3-5 Large Local/Global MNC HQ 7 15 470 1,050

SME 7 15 500 1,050

Global MNC 97 111 7,000 8,000

Director 15-20 Large Local/Global MNC HQ 83 104 6,000 7,500

SME 69 90 5,000 6,500

Global MNC 21 35 1,500 2,500

Global MNC 10 14 700 1,000

Engineer 3-5 Large Local/Global MNC HQ 10 14 700 1,000

SME 7 11 500 800

ANNUAL SALARY RANGE ANNUAL SALARY RANGE

Global MNC 35 61 2,500 4,400

Director 15-20 Large Local/Global MNC HQ 28 53 2,000 3,800

SME 31 56 2,200 4,000

Project Global MNC 21 28 1,500 2,000

SME 14 21 1,000 1,500

Global MNC 9 12 650 850

ANNUAL SALARY RANGE ANNUAL SALARY RANGE

Global MNC 51 83 3,700 6,000

Sales Director 15-20 Large Local/Global MNC HQ 47 90 3,400 6,500

SME 53 90 3,800 6,500

Global MNC 35 56 2,500 4,000

Sales Manager 10-15 Large Local/Global MNC HQ 31 51 2,200 3,700

SME 25 44 1,800 3,200

Global MNC 42 63 3,000 4,500

Account Executive 5-10 Large Local/Global MNC HQ 21 28 1,500 2,000