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With an increase in processes such as mobile-based operations, digital payments, home automation, connected cars technology and Industry 4.0, among others, devices have become better connected than ever. Clearly, Internet of Things (IoT) has transformed the ways we live, operate and perform tasks in our daily lives.
By connecting the devices other than computers and smartphones, IoT has
ventured successfully in domains such as manufacturing, logistics, utilities and automotive industry, and has also seen rapid progression in areas like agriculture and healthcare.
There have also been exceptional efforts by the Government as well as Private Corporations in establishing Smart Cities in India, with the Centre reportedly investing over $1 billion in the project which spans over 100 cities.
To throw some light on the rising opportunities and demand, IoT India Magazine in association with Jigsaw Academy, India’s leading online analytics and IoT training provider, have brought the IoT India Salary Study 2017, which encompasses a detailed overview of the salary trends across the IoT domain in India.
Key trends –
- The median IoT salary in India for the year 2017 is ₹15.2 lakh per annum across all experience levels and skill sets.
- IoT is a relatively new entrant and thus tends to pay higher salaries to professionals in this space due to lack of readily available talent.
- Almost one-third of all IoT professionals in India command a salary of less than ₹6 lakh per annum.
- Only 4.5% of IoT professionals command a high salary of more than ₹50 lakh per annum.
Salaries in IoT Vs other domains –
- On an average, IoT professionals receive around 76% higher salaries than IT professionals in India.
- While the median salary of IoT professionals stands at ₹15.2 lakh, professionals in the IT sector get around ₹8.65 lakh, Primary Research around ₹9.03 lakh, Financial Research around ₹8.96 lakh and Secondary Research professionals around ₹7.83 lakh.
- Only 33% of IoT professionals have salaries under ₹6 lakhs as opposed to 58% in the IT sector.
- 16% of IoT professionals in India earn in the salary bracket of ₹10-25 lakh. This number for IT professionals is 17%.
Salary trend across cities –
- Delhi/NCR provides the highest salary in IoT at ₹17.3 lakh per annum, followed by Mumbai at ₹16.7 lakh PA.
- 44% of IoT professionals in Chennai earn less than ₹6 lakh PA, followed by Pune, where around 39% professionals fall in the same bracket.
- 37% of IoT professionals in Delhi/NCR earn over ₹15 lakh, followed by Mumbai and Bengaluru, where 36% professionals fall in the same bracket.
Salary trends across experience levels –
- Almost 92% of freshers in the IoT field fall under the INR 6 lakh salary bracket.
- The median salary of IoT professionals with more than 12 years of experience is more than INR 30 lakh per annum.
- A transition from each experience level bracket to a higher experience level can lead to an almost 50% jump in salary.
- 83% of senior professionals (12+ years of experience) in IoT command a salary of over INR 15 lakh.
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Salary trend by functional area –
- Application Programming is the most paid job in the industry standing at an average of INR 11 lakh per annum.
- Engineering Design pays professionals an average of INR 10.5 lakh per annum.
- Companies pay an average of INR 8 lakh per annum for Systems Programming
- Embedded technologies pays an average of INR 6.2 lakh per annum.
Here’s the complete report:
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Bhasker is a Data Science evangelist and practitioner with proven record of thought leadership and incubating analytics practices for various organizations. With over 16 years of experience in the area of Business Analytics, he is well recognized as an expert within the industry. Earlier, Bhasker worked as Vice President at Goldman Sachs. He is B.Tech from Indian Institute of Technology, Varanasi and MBA from Indian Institute of Management, Lucknow.