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 in 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 the rest of the world.
So read this article because it will help you in choosing the right career, you can also read these tips to Choose the Right Career for you.
Average Salary Around the World
Before we talk about the average salary in India we should look at how the rest of the world is doing.
As you know the world is divided into three categories, first world, second world, and third world.
The first world is developed countries and the third world is developing countries.
So let us see the 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 of how the rest of the world is doing when it comes to the average salary.
The 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 in India
Now after reading the average salary around the world, it will give you an idea of how India is doing.
Before I tell you about the average salary in India I want to say an 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 it is still rising and that is a good thing.
In the year 2015, the 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%
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 in India
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 the salary in India and around the world.
So you need to know where we stand. So for a comparison take the salary of a software engineer in India and the US.
If you know the salary of software engineers in the US is 12 times the counterpart here in India.
If the median salary of a software engineer in India is around Rs 400,000 / then in the US it is around Rs 40 lacs to Rs 50 lacs.
Even if you take the cost of living, which is 4 to 5 times high in the 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 the 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 the future of the average salary in India. Well! We do hope the average salary in India is going to rise as the economy grows.
However, you need to understand the salary for some sectors might remain stagnant because of the market and government policy.