Source | ET Bureau
The Monster Salary Index (MSI) data from 2016 indicates that the current gender pay gap in India stands at 25% where men earned a median gross hourly salary of Rs. 345.8, in comparison women earned only Rs. 259.8. The gap has narrowed by two percentage points from 27.2% in 2015 and is closer to the 24.1% in 2014.
According to Monster, Women of India Inc., survey aimed at understanding the working women of India and their workplace concerns broadly was categorised under the parameters of- workplace, growth and safety. The survey was conducted on Monster India’s database capturing responses from over 2000 working women.
Analysing the employment-intensive sectors, the index derives that the average gender pay gap in the Manufacturing sector stood at 29.9 per cent.
This is an improvement of 5 percentage points from 2015, however the highest in India.
This was followed by a 25.8 per cent pay gap in the IT sector. The gender pay gap in the BFSI sector was at 21.5 per cent, slightly under the general gender pay gap in India (25 per cent). In Education and Research sector the average gender pay gap was at 14.7 per cent.
Sanjay Modi, managing director, APAC & middle-east, Monster.com said, “In India, the gender pay gap story holds true and the overall gap across India Inc. is at 25 percent. This primarily is a manifestation of the underlying diversity challenges that organisations currently face.
There is a dire need for tangible initiatives to bridge this pay gap with removing structural impediments to women’s growth providing access to skills training, jobs; and decision-making.”
The survey witnessed maximum share of participation from Delhi NCR at 15 per cent, followed by Mumbai and Bangalore at 12 per cent. The participation from non-metros was at 35 per cent. Hence, it would be logical to say that the sentiment portrayed in the report is primarily from Delhi-NCR, Mumbai and Bangalore.
The survey derives that contribution to family income among the top reasons why women work (37.9 per cent). However, a significant 25.1 per cent feel why women are questioned on their reasons to work.