BENGALURU: Bengaluru is not just a hub for tech innovation, the city is also emerging as a powerhouse for manufacturing factories. With 21%, it leads in the manufacturing sector job openings. The city is followed by Mumbai with 16% job openings, according to consulting firm Ishwa Consulting.
In its report on Talent Insights Manufacturing Sector, the firm said the sector is expected to lead in salary hikes as compared to other sectors.
The salary structures of manufacturing companies and new-age IT companies differ significantly as in the manufacturing sector, a larger proportion of jobs fall within the lower salary range of 0 - Rs 6 lakh. Whereas, new-age IT companies predominantly offer job openings in the mid-range salary bracket of Rs 6 -25 lakh.
For high salary packages of Rs 25 lakh and above, the number of job openings is similar in both sectors. Ishwa’s 2024 Appraisal Report which covers last financial year's appraisals reveals higher average increases were reported by manufacturing hubs in Western and Southern India, compared to their Eastern and Northern counterparts, with a lesser increase.
“The reason behind this could be industry concentration and the dynamics of the talent pool in different regions. In the manufacturing sector, certain sub-divisions like automotive showed a better appraisal outlook. This also indicated the sector’s focus on innovation and technological advancements,” as per the report.
Western and Southern hubs see higher pay raise
Ishwa’s 2024 Appraisal Report which covers last financial year appraisals reveals higher average increases were reported by manufacturing hubs in Western and Southern India, compared to their Eastern and Northern counterparts, with a lesser increase