The media and entertainment sector recorded moderate salary growth compared to the IT and BFSI industries in October 2024, a specialist staffing firm foundit revealed. As per the hiring trend in October, the media industry saw a 32 percent year-on-year rise, followed by the IT industry at 30 percent and BFSI at 28 percent. The real estate sector registered a high job demand annually (39 percent) due to the growth across residential, commercial, and premium segments, urbanization, etc.
While the broadcasting media and advertising remained competitive with salaries surging at Rs 35.3 LPA and Rs 31.6 LPA, segments such as digital marketing and writing & editing offered limited senior salary growth with caps at Rs 29.3 LPA and Rs 30 LPA in October 2024, respectively.
According to foundit report, the entry-level salaries in digital marketing and advertising also remained modest, reflecting oversaturation compared to niche technical skills. However, steady growth was seen in the Public Relations (PR) industry and Printing, where senior salaries peaked at Rs 29.7 LPA and Rs 27.2 LPA, respectively.
Notably, Artificial Intelligence (AI) and medical practice dominated as the highest-paying sub-industries in October 2024, offering Rs 76.4 LPA and Rs 50 LPA for senior roles, respectively.
The entry-level salaries in medical practice were between Rs 10 LPA and Rs 14 LPA.
IT and ITes offered decent salaries in specialized roles such as Computer & Network Security Specialist, AI Engineer, and Data Mining Expert. The pay package for a Computer & Network Security expert for senior roles was Rs 87 LPA, and for a data mining expert, the pay scale was up to Rs 79.7 LPA. On the other hand, e-commerce witnessed strong growth at higher levels with senior LPA peaking at Rs 57.5 lakh.
In the BFSI sector, venture capital and private equity offered salaries to starters around Rs 6 LPA and reached Rs 47.5 LPA for experienced professionals, driven by high financial expertise demand. Additionally, investment banking and nad management maintained competitive senior salaries exceeding Rs 50 LPA.
The hiring demand for the entry-level saw an increase of 13 percent annually but there was a three percent decline in hiring activity for roles demanding above 16 years of expertise, the report added.