Indian Economy has been showing signs of growth turnaround as India is still one of the leading countries in Asia for average salary increase. Also, it is paramount for your career to know about the average salary for a specific job, for the country that you are residing in. Salaries vary immensely between different job profiles. Salaries to a great extent depend on education, city, gender, age, experience and obviously the country too. According to the research done by the experts, it was reported that 57% of regular Indian employees earn less than Rs.10, 000.
What is the average salary in India?
Before we talk about the average salary in India let’s have a look at what is the average salary of the world. The world is divided into three categories. The first world is of developed countries and the third world is of developing countries. Average Salary of the First world
Switzerland- 5458.40$ Singapore- 3377.33$ Norway- 3231.72$ United States- 3209.00$ Germany- 2521.94$ Japan-2531.01$
Average Salary of Second World
China- 4534$ Canada- 4433$ Greece- 2040 $ Poland- 1100$ Hungary- 1020$ Turkey- 420$
Average Salary of Third World (other than India)
Thailand- 631.40$ The Philippines- 292.47$ Egypt- 212.04$ Indonesia- 331.97$
This was about the average salary around the world, you must have got an idea about the average salary around the world and you would be able to compare it easily with India. We would now have a look at the average salary of India and how it has been rising over since a few years.
Average Salary in India
The average salary in India has been rising year after year, which is good news for you. The minimum wage ranges from Rs.2, 250(minimum salary) to Rs.70,000 (maximum salary) a month for unskilled workers in various states. If we talk in dollars it would be around 300$. The median salary is around Rs. 16,000 which states that half the population is earning less than this amount and half are earning more than Rs. 16,000. Everyone wants to be on the right side of the graph, earning more than Rs.16,000 of the median salary. The best part is that salary in 2019 is 2%higher than that in the year 2018. There is a slow but continuous increase in pay since the last couple of years and in the coming year too. The average salary in India is comparatively less when compared to the west but as it is persistently rising which is a good sign. When we talk about the average salary, it is also vital for us to know about the average hourly wage in India, as it would give you a clearer picture about the economy and career growth in the country.
Average Hourly Wage in India
Hourly wage means the salary paid in on the working hour. Mostly, the jobs are categorized into two sections, one is salaries and second in hourly. In salary, you get a fixed income and in hourly jobs, you get paid according to per hour. For calculating average salary into hourly the formula used is: Assume 5 working days in a week and 8 working hours every day and then we calculated the average hourly wage. It has been reported that an average hourly wage for all jobs is around Rs.96, which means that in India a person on an average earns Rs.96 for each hour worked. Also Read: How to Earn Money from YouTube
Earning Percentage
Salary Comparison By cities
Average Salary for different Jobs
Salary Comparison by State
Also Read: How to Become Rich in India Without Investing Money? What would be the Future? As mentioned above in the blog, that the average salary in India is increasingly growing year by year. Salary for a few sectors might remain the same and for few, it might boom because of market and government policies. Thus, you have to be vigilant and wise while selecting any specific career because a lot depends on how much you get paid.
