SALARY ESTIMATOR: A LITERATURE REVIEW

Abstract

The economic liberalization of Indian markets in early 90s boosted the economic growth of the nation in various sectors over the next two decades. One such sector that has seen a massive growth in this time is Information Technology (IT). The IT industry has played a very crucial role in transforming India from a slow moving economy to one of the largest exporters of IT services. This growth created a huge demand in the labour markets for skilled labour, which in turn made engineering one of the top choices of study after high school over the years. In addition, the earning potential and an opportunity to contribute to technology advancements after engineering, makes it a popular choice of study. These growth dynamics along with the diversified education and labour markets demands gives insight into the factors affecting the employment outcomes of engineering students. This research study focuses on studying the key salary determinants for entry-level engineering graduates in India Labour Markets .The research examined the impact of demographics, academic performance, personality traits and standardized test scores on the starting salary. The research findings indicated that the academic performance in school and college, college reputation, school affiliation and engineering major are key predictors for starting salary. The findings also revealed that Cognitive skills English and Quantitative ability along with a desire to do a task well are significant contributors to the starting salary of engineering graduates in Indian Labor Markets.