“It is surprising that over 50% of employees from IT and BFSI—have always been among the highly paid sector in India—are least satisfied with their salaries,” Said Sanjay Modi, MD, Monster.com. He also adds “Manufacturing sector despite being paid low has 60 percent employees satisfied. This takes us back to the debate if salary is the most compelling tool for employee satisfaction."

MSI report cites that strong talent pool is very important for the Modi Government’s focus on Make in India and other ambitious Digital India Mission. In the BFSI space, the report further pointed, small companies pay an hourly salary of Rs 197.95 while large firms pay an hourly salary of Rs 324.51. It also stated that bonuses are more common in the IT sector than BFSI and manufacturing.

Since salary and wages become a key factor, it is very important for the companies to look in to employee’s satisfaction to attract and retain them by closely analyzing the correlation between salaries and employee satisfaction," stated Narendra Modi, Prime Minster of India.

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