Why you need to know about the average salary in India and rest of the world.
It is very important for your career so you have to know about the average salary for a particular job the country you are living in.
We decided to write an article giving you knowledge about the average salary in India.
We talk about the average salary in India and around the world. Later we also compare both of them to see how we are lagging behind rest of the world.
So read this article because it will help you in choosing a right career, you can also read these tips to Choose Right Career for you.
Average Salary Around the World
Before we talk about the average salary in India we should look how rest of the world is doing.
As you know the world is divided into three categories, first world, second world and third world.
First world are basically developed countries and third world are developing countries.
So let us see average salary of some of the first world countries.
1. Norway – $3678
2. Austria – $3473
3. United States – $3263
4. United Kingdom – $3065
5. Belgium – $3035
6. Germany – $2720
Second World Countries
1. Russia – $1800
2. Turkey – $1731
3. China – $656
4. Poland – $1536
5. Hungary – $1374
Third World Countries (Other than India)
1. Egypt – $548
2. Thailand – $489
3. Philippines – $279
So you will get an idea how rest of the world is doing when it comes to average salary.
United States is the largest economy of the world and the average is the best at $3263 and on the other hand China pays only $656.
Average Salary in India
Now after reading average salary around the world it will give you an idea how India is doing.
Before I tell you about average salary in India I want to say average salary in India has been rising year after year.
The average salary in India is around $295 to $300.
Although the amount is very less compared to the west but it is still rising and that is a good thing.
In the year 2015, average salary of a working Indian rose by 3.5%.
If you break down the list the average salary for different sectors then
Professional Services rose by 11.5%
Energy by 12%
Hi Tech 10.7%
Financial Services by 10%
Pharmaceuticals and health Services by 11.5%
Medical Life Sciences by 12%
IT and ITES by 10%
Consumer Goods by 11%
Chemical by 10.8%
Automotive by 10.1%
Average Salary for Different Jobs
As you know the average salary in India is $295 to $300. Now we need to break it down for different jobs.
- Software Engineer – Median Salary would be Rs 400,000/-
- Retail Store Manager – Median Salary is Rs 350,000/-
- HR Manager – Median Salary is Rs 180,000/-
- Civil Engineer – Median Salary is Rs 350,000/-
- Lectures or Professor – Median Salary is Rs 240,000/-
- Personal Banker – Median Salary is Rs 300,000/-
- Sales Officer – Median Salary is Rs 240,000/-
- Web Designer – Median Salary is Rs 200,00/-
So we jot down a list of white collar jobs and their median salary in India. Salaries could differ from city to city.
Now you got a complete picture of salary in India and around the world.
So you need to know where we stand. So for a comparison take salary of a software engineer in India and US.
If you know salary of software engineer in US is 12 times of the counterpart here in India.
If median salary of software engineer in India is around Rs 400,000/ then in US it is around Rs 40 lacs to Rs 50 lacs.
Even if you take cost of living, which is 4 to 5 times high in US compared to India, still there is a huge gap.
Why is it so?
Well one reason is there are too many software engineers in India so the salary is low. However in US they are less so they pay you more.
However you can see the difference.
What is the Future?
Finally we need to talk about future of average salary in India. Well! 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 and government policy.