In the dynamic field of Human Resource Management, understanding salary trends for HR managers is crucial for aspiring HR professionals. This comprehensive guide delves into current salary insights, particularly focusing on HR Manager roles in India. Whether you're considering pursuing a career in HR or are already an HRMA student, gaining insights into HR manager salary can provide valuable career guidance and motivation.
Understanding HR Manager Salary Trends
HR manager salary varies significantly based on factors such as experience, industry, location, and qualifications. As per recent trends, HR manager salary levels have shown a positive trajectory globally, reflecting the increasing strategic importance of HR functions within organisations. For HR Manager Salary in India, there's been notable growth due to evolving business landscapes and a focus on talent management.
Factors Influencing HR Manager Salary
Individual HR manager pay is influenced by a number of variables, including specialization, geography, experience and skill levels, and HR certifications, among others.
- Location: Location is one of the key variables influencing the remuneration of an HR manager. Salary levels in the USA are often greater than those in Canada or the UK. In India, this pattern is still evident, with incomes generally rising in larger, more expensive cities like New Delhi, Mumbai, Pune and Bangalore.
- Years of Experience: As is the case with most occupations, years of experience have a significant impact on compensation. An HR manager, for instance, with less than a year of experience will make less money than one with more than six years.
- Specialization: There is a chance that an HR manager with a focus on succession planning, hiring, or organisational design will make more money.
- Industry: According to data from the job site Glassdoor, pharmaceuticals and biotechnology are the highest-paying industries for HR experts.
- Accreditations: Whether a person has any certifications is an aspect that can influence their income as an HR manager. To obtain accreditation as an HR manager, there are several options. You can enrol in the program Human Resource Management and Analytics (HRMA) by IIT Roorkee to study HR and get a certificate.
HR Manager Salary Insights in India
In India, the HR Manager Salary landscape is influenced by economic growth, industry trends, and demand for skilled HR professionals. As of current data, the average annual salary for HR managers in India ranges from INR 6-20 lakhs depending on the factors mentioned above. Major cities like Mumbai, Delhi, and Bengaluru offer higher salary prospects due to the concentration of industries and multinational corporations.
Salary Breakdown by Designation
The following breakdown highlights the salary ranges and qualifications needed for different HR Manager positions based on experience and expertise:
- HR Manager: Typically earns between INR 3.50 to 5 lakh per annum
- Requirements: Bachelor's degree in Human Resources or related field
- Experience: 0-3 years
- Senior HR Manager: Average salary ranges from INR 6 to 9 lakh per annum
- Requirements: Bachelor's degree in Human Resources or related field, with several years of experience.
- Experience: 3-7 years
- Assistant Vice President (AVP) of HR: Earns between INR 9 to 15 lakh per annum
- Requirements: Postgraduate degree in Human Resources or related field, with extensive experience.
- Experience: 7-12 years
- Vice President (VP) of HR: Typically earns INR 15 lakh and above per annum
- Requirements: Postgraduate degree in Human Resources or related field, with a demonstrated track record of success.
- Experience: 12 years and above
Salary Breakdown by Job Profile
The following job profiles encompass distinct responsibilities and skill requirements, reflecting varying levels of compensation within the HR field:
- Training and Development Manager: Typically earns between INR 6 to 10 lakh per annum.
- Labour Relations Specialist: Average salary ranges from INR 5 to 8 lakh per annum.
- Compensation and Benefits Manager: Earns between INR 8 to 12 lakh per annum.
Salary Breakdown by Experience
As you accumulate more experience in the field of HR, your salary potential increases, reflecting your expertise and proven track record of success. Experience is a significant factor influencing the salary of an HR Manager. Here's a breakdown of average annual salaries based on different levels of experience:
- 0-5 Years of Experience: Typically earns between INR 3.50 to 6 lakh per annum.
- 5-10 Years of Experience: Average salary ranges from INR 6 to 12 lakh per annum.
- 10-15 Years of Experience: Earns between INR 12 to 18 lakh per annum.
- 15-20 Years of Experience: INR 18 lakh and above per annum.
How to Become an HR Manager?
For aspiring professionals wondering how to become an HR manager, pursuing specialised education and gaining practical experience are key. Programs like the Human Resource Management and Analytics (HRMA) by IIT Roorkee equip students with industry-relevant skills and insights into salary trends, preparing them for successful careers in HR management.
Conclusion
Staying updated with current HR manager salary trends is essential for HRMA students and professionals alike. By understanding the factors influencing salaries and the career path to becoming an HR manager, individuals can make informed decisions and embark on rewarding careers in Human Resource Management.
If you're passionate about human resources and aspire to become an HR manager, explore Imarticus Learning's HRMA program to gain the skills and knowledge needed to excel in this dynamic field. Take charge of your HR career today!
