29% growth in men’s salaries, only 22% in women’s

Salaries are going up but not equally across genders, says a RazopayX Payroll report

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During the period October 2021 to September 2022, salaries have risen. However, the rise has not been the same for men and women professionals. While there has been a gradual growth in salaries, the growth in salaries for men exceeds that of women.

There was 29 per cent growth in the salaries of men, while for women it was only 22 per cent. That is not all, the gap widens as one moves to higher salary brackets.

The median gap in the salaries of men and women was 46 per cent in the last one year, while the salary gap between the two genders in the 95th percentile salary bracket was an alarming 70 per cent. In addition to this gap, the participation of women in the workforce is low too. The report reveals that for every two men hired in the last one year, only one woman was hired.

Interestingly, while there has been a drop in hiring, overall, salary spends seem to be increasing. In fact, since October 2021, salary spends have gone up by 64.7 per cent.

The preference for hiring gig workers has increased over permanent workers, especially amongst startups. There has been a 153 per cent growth in the payments to gig workers since Oct 2021. About 15 per cent more enterprises have embraced a semi-gig workforce model. Semi-skilled gig workers who are paid less than Rs 20,000 contribute the most to the talent pool of gig workers, as they are hired most by startups. They are followed by those paid between Rs 20,000 to Rs 40,000.

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