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It is always good to know the average salary your kind of job is getting paid cross the world. Generally, all headlines talk about the unemployment rate but no one speaks about average salary anyone is getting. But we would say India has salary problem not job problem.
It is very important for your career to know about the average salary for a particular job. Here we have got you some facts and figures after doing some research and walk-through the different information. This is really necessary to know to gauge the condition of an Indian employee.
As per PLFS, the workers in the salaried task force have rose by 5% in past seven years of span. Men and women who work in regular jobs earn more than causal or unskilled workers.
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1. Cost of Living
India is one of the cheapest countries to live in s compared to other countries. But due to variation in place the cost of living may vary drastically. Many expats would believe that India is a great destination to live exotically with low cost of living.
The major cost of living in India is housing, food and entertainment, children education, transportation. The cost of living is higher in urban area as compared to rural areas.
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2. Categories
The wages are compared base on various categories such as rural vs urban, men vs women, and skilled vs unskilled. It is always that rural wages are less than urban wages. It is also noticed that women have lower wages than men. Skilled labours are always paid higher than unskilled labour.
In rural India, males generally earn around about INR 14000 while women earn somewhere around INR 8000 per month. Similarly, in urban India, males earn INR 18,000 while women earn INR 14000 per month. Self-employment is major source of income in rural India.
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3. Experience Vs Salary
It is said that more the experience more is the salary. This is one of the important criteria while deciding the salary range. Employees with two to five years of experience have 30% more salary than the fresher’s or entry level almost in all industries and disciplines.
Skilled labours with more than five years of experience have approximately 30% higher salary than fiver experienced person. However, the salary increase of labours with more than decade of experience is limited to 15 – 20% on an average.
These figures are only as guideline. The actual variation may change depending on the industry and person.
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4. Education Vs Salary
It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income is the question.
If we compare the salaries of professionals at the same level but with different college degrees levels across many jobs then we find on average 20% difference in their salaries based on the higher education.
However, note that change in salary based on education varies drastically from one location to another and depends hugely on the career field as well.
Skilled Labours with a PhD degree holder earn 23% more than Master’s Degree holder, Master’s degree holder earns 29% more than Bachelor’s Degree holder while Bachelor’s degree holder earns 24% more than certificate or diploma holder and certificate or diploma holder earn 17% more than their peers who only reached the high school level.
Again, these figures are indicative may not hold true for every industry and disciplines.
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5. Gender Vs Salary
Gender should not be a comparator for salary difference by on average male employees earns 9% more than female employees in India. Further to this the level of female participation in the economy reports that India is amongst one of the bottom 10 countries on its list. Thus, in addition to unequal pay, there is also unequal representation
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6. City Vs Salary
For the same kind of job, salary is different in different cities. On an average the salary in Delhi is higher than Mumbai. All the other cities have salary lower than these.
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7. Various Profession
A person employed in Banking sector has highest salary. The next in line profession is insurance then fashion then Architecture then accounting and finance. The lowest salary is for administrative/reception/secretarial jobs.
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8. Average Salary for Different Jobs
A person employed in Banking sector has highest salary with an average of $256 The next in line profession is insurance with average salary of $210 then fashion then Architecture then accounting and finance.
The lowest salary is for administrative/reception/secretarial jobs with average salary of $95. Here we break it as per different jobs.
1) Software Engineer – Median Salary: 3,00,000.00
2) Senior Software Engineer – Median Salary: 5,00,000.00
3) Software Developer – Median Salary: 2,50,000.00
4) Mechanical Engineer – Median Salary: 1,60,000.00
5) Civil Engineer – Median Salary: 1,75,000.00
6) Operations Manager – Median Salary: 3,00,000.00
7) Mechanical Engineer – Median Salary: 1,75,000.00
8) Software Developer / Programmer – Median Salary: 4,50,000.00
9) Security Guard – Median Salary: 300.00 – 500.00 per hours
10) Data Entry Operator – Median Salary: 500.00 – 700.00 per hours
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9. Salary increments
On an average Indian employee get 7% salary hike. But these hikes differ based on your education, experience, etc. It depends on various factors.
10. Average Salary Around the World
Indian salaries are on an average $300 per month. This salary range is mere pittance when compared with the salary range in first world countries which is around $ 3200 or second world countries which is around $1800.
Indian salaries are low even compared to the salaries of third world countries. Though these figures are rising year on year but still they are not up to the mark with many of the countries.
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11. Why So Less Salaries
Anyone pays for a product or service if it is niche or supply is less than demand. Similar is the case with Indians. India has more engineers available than those available in first world countries. Hence the salary in India is low as compared to the salaries in any other country.
Many of the people would prefer to work on low salaries than stay jobless. Another reason for low salaries is the cost of living. Cost of living in India is much lesser than most of the western countries.
We are on the progression path and will surely reach the similar salary brackets as second world countries to start with.
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12. What is the Future?
But we need not boggle down with low salaries. We do hope the average salary in India is going to rise as economy grows. However, you need to understand salary for some sectors might still remain stagnant because of market or government policy or industry dynamics.
All said and done, Indian economy is showing signs of growth and turnaround. So, we can always hope for better employment rates with better salaries.
We hope the economy turns around and every get a better and unbiased pay. Best of luck for your job.
Average Salary in India: FAQ
What is arrears in salary
A salary revision may happen but increments are paid out later date. let`s take an example: My salary is 20,000 and my increment is done from 20,000 to 30,000 in april and but i am not paid yet and i am in may so, in may i will get 30,000+10,000= 40,000.00
What is net salary
Net Salary = Gross salary – All deductions like Income Tax, Pension, Professional Tax, etc.
The amount that a employ takes home after the all deduction.
What is salary slip
Salary slip has all the details of our Net Salary = Gross salary – All deductions like Income Tax, Pension, Professional Tax, etc. It has all the details where our all deductions happen and in which departments and of what amount.
What is the salary of a doctor
Doctor salary in India ranges between ₹ 7 Lakhs to ₹ 25.0 Lakhs with an average annual salary of ₹ 8.0 Lakhs.
What is the salary of ips
56,100 – 2,25,000.00 INR
After the 7th Pay Commission approval. The basic salary of an IPS officer starts at Rs. 56,100(TA, DA and HRA are extra) per month and can go on to reach Rs. 2,25,000 for a DGP
What is the salary of a pilot
It depend on experience and company for which they are working. For an average we has some data collected from some variuos sources.
0 – 5 years experience = 12 – 15 Lakh
6 – 10 years experience = 17.50 – 25 Lakh
11 – 15 years experience = 36 Lakh +
16 -20 years experience = 65 Lakh +
21 + years experience = 96 lakh +
What is the salary of a president in india
5,00,000 INR (US$6,300) per month
What is the salary of a prime minister of india
2,80,000 INR (US$3,500) per month
What is the salary of vice president in india
4,00,000 INR (US$5,000) per month
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