TeamLease releases Temp Salary primer 2007

Mumbai, March 29, 2007: TeamLease Services Pvt. Ltd, India's largest staffing Company and the biggest player in the temping industry has released their annual Temp Salary Primer 2007. This salary survey for temporary hiring covers 34 profiles in 6 industry domains across 13 major locations . This data combined with a section on minimum wages for unskilled, semi skilled and highly skilled workforce across all locations makes the primer a comprehensive guide for employers and jobseekers to match talent, experience and compensation.

This years report also includes a special "TeamLease trend watch" for each location that captures trends in the salary distribution across verticals, domains and functions. The national index page also contains a comparison between temp and permanent salaries across profiles, experience and domain.

Mumbai City Trends

• Accounts and Administration are the highest paying verticals
• IT/ITeS are the highest paying verticals followed by Manufacturing/BFSI
• The highest paying vertical for Undergraduates is Administration
• Accounts is the highest paying vertical for Graduates and Postgraduates

According to Rajesh A.R, Vice-President, Temporary Staffing unit "Two important trends emerging from the primer are the increasing returns to skill and the accelerated narrowing of the temp and perm salary gap. The increasing returns to skill (23% for every education increment) partly reflect the skill shortage but also reflect productivity gains. The narrowing salary gap reflects more efficient labour market intermediation. As organized temporary staffing firms complement (or substitute) poorly performing employment exchanges and apprenticeship programs, labour market liquidity improves and transaction costs in matching labour demand and supply reduce. These reduced transaction costs are being passed onto employees

This primer reflects the accelerating vibrancy of India and its companies. The number of industries and geographies using organized temporary staffing is rapidly increasing as acceptance increases among employers and employees. Temporary jobs are an important part of the solution to the public policy issues of jobs and skills but unfortunately 99% of the industry is still in the unorganized sector because of labour legislation. The growing recognition that this may be inappropriate gives us hope for legislative progress this."

Key findings

• Information Technology and ITeS have again emerged as the top verticals for temp job prospects across all locations
• Accounts and Sales have more Temp jobs across all verticals and locations
• Mumbai, Bangalore and Delhi are hot destinations for Temp jobs, offering higher compensation across all verticals
• Bangalore is the emerging location for HR & Sales, Mumbai for Accounts & Delhi for Administration
• Manufacturing and BFSI are the emerging verticals with numerous opportunities in Delhi , Chennai and Mumbai
• The number of temp jobs offered in verticals like BFSI, Manufacturing and Consumer Durables has increased by more than 20% since last year
• The temp compensation has also experienced substantial growth for those with 0 - 1 year experience, with an average growth rate of 14 % in compensation, across all experience levels
• In the 0-1 yr category, the Temp salary levels are higher and in the 1-3 yr category salary levels are closer to Perm, relative to last year
• The education level influences all levels, as shown by the increase of more than 23% in compensation for every increase in the education level, except for Sales

Annexure

TeamLease Trend Watch

Bangalore

• HR & Sales are the highest paying verticals
• IT/ITeS are the highest paying verticals followed by BFSI/Manufacturing
• The highest paying vertical for Undergraduates and Graduates is Accounts
• HR is the highest paying vertical for Postgraduates

Chandigarh

• HR and Administration are the highest paying verticals
• IT/ITeS are the highest paying verticals followed by BFSI/Consumer Durables
• The highest paying vertical for Undergraduates & Graduates is HR
• Accounts is the highest paying vertical for Postgraduates

Chennai

• HR & Accounts are the highest paying verticals
• IT/ITeS are the highest paying verticals followed by BFSI / Manufacturing
• The highest paying vertical for Undergraduates is Accounts
• The highest paying vertical for Graduates is HR
• Accounts is the highest paying vertical for Postgraduates

Delhi

• HR and Sales are the highest paying verticals
• IT/ITeS are the highest paying verticals followed by BFSI/Manufacturing
• The highest paying vertical for Undergraduates is Administration
• The highest paying vertical for Graduates is HR
• Accounts is the highest paying vertical for Postgraduates

Hyderabad

• Accounts and HR are the highest paying verticals
• IT/ITeS are the highest paying verticals followed by BFSI / Manufacturing
• The highest paying vertical for Undergraduates is Administration
• Accounts is the highest paying vertical for Graduates and Postgraduates

Indore

• HR & Administration are the highest paying verticals
• IT/ITeS are the highest paying verticals followed by BFSI/Consumer Durables
• The highest paying vertical for Undergraduates is Accounts
• The highest paying vertical for Graduates is HR
• Accounts is the highest paying vertical for Postgraduates

Jaipur

• HR & Accounts are the highest paying verticals
• IT/ITeS are the highest paying verticals followed by Manufacturing/Consumer Durables
• The highest paying vertical for Undergraduates is Sales
• HR is the highest paying vertical for Graduates and Postgraduates

Kochi

• HR & Accounts are the highest paying verticals
• IT/ITeS are the highest paying verticals followed by BFSI/FMCG
• The highest paying vertical for Undergraduates is Accounts
• HR is the highest paying vertical for Graduates and Postgraduates

Kolkata

• HR and Sales are the highest paying verticals
• IT/ITeS are the highest paying verticals followed by BFSI/Manufacturing
• The highest paying vertical for Undergraduates is Accounts
• The highest paying vertical for Graduates is HR
• Sales is the highest paying vertical for Postgraduates

Lucknow

• Accounts and HR are the highest paying verticals
• IT/ITeS are the highest paying verticals followed by Manufacturing / Consumer Durables
• The highest paying vertical for Undergraduates is Administration
• Accounts is the highest paying vertical for Graduates and Postgraduates

Pune

• HR & Sales are the highest paying verticals
• IT/ITeS are the highest paying verticals followed by Manufacturing/BFSI
• The highest paying vertical for Undergraduates is Administration
• The highest paying vertical for Graduates is HR
• Accounts is the highest paying vertical for Postgraduates

About TeamLease Services Private Limited

TeamLease Services Pvt. Ltd is India's largest staffing company and the biggest player in the temping (temporary staffing) industry today. TeamLease has been recognized for having pioneered the concept of temporary staffing in India. Currently they have over 67,000 employees on the rolls, presence across 464 locations with 23 offices in India. They are currently India's second largest private sector employer, poised to be the largest private sector employer in 2007.

MEDIA CONTACT:
Amber Sironzkar
Adfactors PR
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Emial :amber.sironzkar@adfactorspr.com

Source: Ad-Factors PR

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