The report not only indicated the stark wage gap but also the participation of women in these sectors.
Monster India, an online career and recruitment solutions provider, released the latest ‘Monster Salary Index’ (MSI), which exposes the wide gap between the salaries of the two genders.
MSI, which is a study of median wages of men and women in various sectors and their collective job satisfaction index.
The report indicated that the gender pay gap in India is at 27 percent where men earned a median gross salary of Rs. 288.68 per hour. Women, on the other hand, earned only a median gross salary of Rs. 207.85 per hour.
The report covers a period of 2 years and 9 months and eight different sectors – IT Services; Healthcare, caring services, social work; Education, research; Financial services, banking, insurance; Transport, logistics, communication; Construction and technical consultancy; Manufacturing and Legal and market consultancy, business activities.The data has been collected from the, Salary Calculator and Monster Salary Index. The sample consists of 31,193 respondents, both male and female. Wages of self-employed people are excluded from this sample. Employees from different age groups, varied industries, and various hierarchical positions in their respective occupations are included in the sample. The highest wage gap was seen in the manufacturing sector, where the hourly wage for men was Rs 259.80 and for women, Rs 192.50. “Some of the reasons behind this gender pay gap could be the preference for male employees over female employees, preference for promotion of male employees to supervisory positions, career breaks of women due to parenthood duties and other socio-cultural factors,” says the analysis. The Banking, Financial Services, and Insurance Sector and the Transport, Logistics, and Communication Sector saw a wage gap of 17.7%. In fact, the BFSI sector saw an increase in the wages of women from 2013 to 2015. While most sectors indicated an increase in women’s wages through these years, IT services showed a decline in the wages along with the sample of women being only 11.3% of the whole sample; and Legal and Market Consultancy, Business Activities had no data to show regarding the increase or decrease of yearly wages because of the extremely small sample (268) of women in that sector. The report, thus, not only indicated the stark wage gap but also the participation of women in these sectors. The report also indicated that the hourly wages in the Education and Research sector was the lowest at Rs 205.29, while the highest was Information and Communication Technology sector at Rs 346.42. The collective job satisfaction index was lowest in Education and Research with 55.9% and highest in Legal and Marketing Consultancy, Business Activities with 64.7% over the period of research.