Average Salary in India 2024

Unveiling the Multifaceted Salary Scenario in India: From the comprehensive pay scale analysis and intriguing wage gap examination to unraveling salary yearly increments and breakdowns based on education level or years of experience, this insightful article is a one-stop resource for understanding the intriguing dynamics of salary in India. With a concise yet informative approach, dive into the complexities of the Indian job market and gain valuable insights that shed light on the ever-evolving compensation landscape. An optimal reading choice to explore the intricacies of salaries in India that guarantees to satisfy your quest for knowledge.

Please be aware that the data we are providing is as accurate as possible at this early stage of the year 2024.

However, as we gather more data for 2024, we make adjustments to ensure the highest level of precision.

What is the average salary in India in 2024?

Show salaries in INR

What is the average salary in India in 2024?

620USD

(USD 7,500 yearly)

Low 280 USD

Average 620 USD

High 2,800 USD

The typical earnings in India amount to around USD 620 per month. However, the salary spectrum extends from as low as USD 280 (lowest average) to as high as USD 2,800 (highest average, actual maximum salary is higher). Please note that this includes housing, transport, and other benefits. Salaries can vary greatly among different careers. If you are curious about the salary of a particular job, please see the information on specific job titles below.

In comparison with average salary in India in 2023, salaries changed by +0.7% so far. Looking ahead, economists project a gradual recovery in the job market. Full comparison 2023 and 2024 we are able to do it at the end of this year.

Check out the average salary in India. Check out the average salary in India.

Pay Scale and Salaries in India

Pay Scale Comparison and Salary Structure

Nearly everyone earns less than USD 2,800, 75% of the people earn USD 860 or less. 50% employees earn less USD 600 or less, 25% of the employees earn less than USD 450.

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Salary Structure

Nearly everyone earns less than USD 2,800, 75% of the people earn USD 860 or less. 50% employees earn less USD 600 or less, 25% of the employees earn less than USD 450.

Minimum Wage and Starting Salary

Minimum Wage and Starting Salary refers to the fundamental pay levels for entry-level positions. It encompasses the legally mandated minimum wage and the initial compensation offered to new hires, impacting job seekers and employers alike. Understanding these figures is crucial for ensuring fair labor practices and successful career beginnings. In India the minimum salary is USD 280.

Median Salary

Median Salary represents the middle point of all salaries in a dataset, with half of the values above and half below it. It provides a more balanced view of income distribution, making it less sensitive to extreme values, and is commonly used to gauge average earnings in various professions and industries. In India the median salary is USD 490.

Salary range and Percentile

Salary Range refers to the span between the lowest and highest salaries in a given dataset, indicating the scope of potential earnings. Percentile, on the other hand, represents a specific point in the range, showing how a salary compares to others in the dataset, making it useful for benchmarking pay levels. In India the salary ranges from USD 280 to USD 2,800.

Annual Salary Increments in India

What is the average annual salary increment in the India? How frequently do employees receive salary raises?

In 2024, employees based in India witnessed an average salary increase of 0.7%. It's crucial to emphasize that this is an aggregate figure encompassing all job sectors. The worldwide average for 2024 is 0.7%.

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In 2024 the workforce in India experienced approximately 0.7% salary growth. It's important to highlight that this figure represents the average across diverse job sectors. Globally, the average salary increase for 2024 stands at 0.7%.

Historical Graph of Annual Salary Increments in India

Employees based in India have experienced a salary increase averaging 3.8% per year in recent years. This translates to a range of 0.7% to 8.3% increment per year.

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On an average, employees in India have received a salary increase ranging from 0.7% to 8.3% per year in recent years. This translates to an average increment of 3.8% per year.

Salary Forecast and Trends for the Future in India

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There are several key factors that influence future of salary growth. That is why we provide range of most probable forecast of salary increments. During next year salary increment will most likely be around 3.1%. Estimated range is between 1.7% and 4.8%.

Gender Wage Gap in India

What is the difference in pay between mens and womens? Men vs. women salary comparison.

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Actual wage gap in India is 10.0%.

It's due to many factors, such as:

Gender discrimination.
On average, women take 10% more days of paid vacation than men each year.
College degrees are less common among women compared to men.
Taking up caregiving responsibilities for children and elderly relatives is more common among women than among men.
Part-time employment is disproportionately dominated by women, who usually earn less than their full-time counterparts.
Compared to men, women have a higher likelihood of working in lower-paying occupations.

Check out the average salary in India. Check out the average salary in India.

Salary Comparison by Education Level

How does the education level influence the amount of salary?

The successful completion of high school and attainment of a bachelor's degree bring forth a wide range of advantages. Primarily, they greatly enhance one's career prospects by increasing earning potential and opening doors to a broader range of job opportunities. Advancing from a bachelor's degree to a master's degree offers several compelling advantages. Firstly, it deepens one's expertise and knowledge in a specific field, making graduates highly sought-after specialists in their areas of study. Continuing from a master's degree to a Ph.D. brings numerous benefits. Firstly, it allows individuals to become true experts in their chosen fields, conducting groundbreaking research and contributing to the advancement of knowledge.

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The Benefits of Transitioning from High School to a Bachelor's Degree

Completing high school and obtaining a bachelor's degree brings a multitude of benefits. Firstly, it significantly enhances one's career prospects, leading to higher earning potential and access to a broader range of job opportunities. Beyond financial rewards, pursuing a bachelor's degree fosters personal growth, critical thinking skills, and the chance to specialize in a particular field of interest. It also facilitates valuable networking opportunities and the development of a global perspective. Ultimately, the journey from high school to a bachelor's degree is a transformative path that opens doors to a more fulfilling and prosperous future.

The Advantages of Progressing from a Bachelor's to a Master's Degree

Advancing from a bachelor's degree to a master's degree offers several compelling advantages. Firstly, it deepens one's expertise and knowledge in a specific field, making graduates highly sought-after specialists in their areas of study. This advanced education often leads to even greater earning potential and career advancement opportunities. Additionally, master's programs often emphasize research and critical thinking, honing these skills for practical application in professional settings. Networking opportunities expand further, connecting students with experts in their fields. Lastly, pursuing a master's degree is a significant personal achievement, reflecting dedication and a commitment to lifelong learning, which can contribute to personal growth and fulfillment.

The Advantages of Advancing from a Master's to a Ph.D. Degree

Continuing from a master's degree to a Ph.D. brings numerous benefits. Firstly, it allows individuals to become true experts in their chosen fields, conducting groundbreaking research and contributing to the advancement of knowledge. This expertise often leads to prestigious career opportunities in academia, research, and leadership positions in various sectors. Ph.D. programs foster advanced critical thinking, problem-solving, and analytical skills, making graduates highly adaptable and innovative. Networking opportunities expand even further, with collaborations and connections in the global academic and professional communities. Pursuing a Ph.D. signifies an unwavering commitment to intellectual growth and the pursuit of a rewarding and influential career.

Salary Breakdown Based on Career Levels

How does an individual's salary evolve as time goes on?

Promotion from junior to intermediate role brings increased responsibilities and expertise. Generally, salary rises significantly, often 16%-20% higher, reflecting higher skill level and value to the company. Elevated from intermediate to senior role, responsibilities expand, along with a substantial salary hike of around 8%-12%. Expertise and leadership garner higher recognition and greater financial rewards. Ascending from senior to executive role amplifies responsibilities. Typically, salary surges significantly, often 18%-22% higher, mirroring strategic influence and heightened leadership contributions.

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Salary increase going from Junior to Intermediate

Promotion from junior to intermediate role brings increased responsibilities and expertise. Generally, salary rises significantly, often 16%-20% higher, reflecting higher skill level and value to the company.

Elevation from Intermediate to Senior Role Brings Salary Advancement

Elevated from intermediate to senior role, responsibilities expand, along with a substantial salary hike of approximately 8%-12%. Expertise and leadership yield higher recognition and greater financial rewards.

Executive Promotion: Salary Increase from Senior Position

Ascending from senior to executive role amplifies responsibilities. Typically, salary surges significantly, often 18%-22% higher, mirroring strategic influence and heightened leadership contributions.

Average Hourly Wage in India

What is the average hourly wage in the India?

Average Hourly Wage

4USD

Low 2 USD

Average 4 USD

High 16 USD

What are the disadvantages of being paid on an hourly wage basis?

Income instability: The irregular or fluctuating income from hourly wages can make it challenging to budget and plan for expenses.
Limited earning potential: Hourly workers may face limitations in terms of the number of hours they can work, which can restrict their earning potential compared to salaried positions.
Lack of benefits: Hourly workers often have fewer or limited benefits such as paid time off, health insurance, retirement plans, and other perks typically connected to full-time employment.
Inconsistent work hours: Hourly workers may experience unpredictable work schedules, including shifts that vary in duration or irregular hours, which can disturb work-life balance and make it difficult to maintain consistent routines.
Uncertain job security: Layoffs, downsizing, or changes in demand can make hourly positions more vulnerable to job insecurity when compared to salaried positions.
Limited career advancement: Some hourly jobs may have limited opportunities for career growth, professional development, or upward mobility within the organization.

It's important to note that these disadvantages may not apply universally and can vary depending on specific job circumstances and individual preferences.