Average Salary in India and all other countries has been discussed here based on many factors.
What is the average salary in India and all other countries? And why do you know about the average salary details for any job.
You many live in any part of this global, but you must know about average salary for any job you are looking for or for someone else.
You will learn more about the average salary in India and rest of the countries. After reading this article, you will have an idea that how to choose the best jobs for your career.
Average Salary in India and All Around the World
All we know that countries have been categorized as developed countries, developing countries and below poverty line countries. The Average salary of a country is based on these categories.
Average Salaries of few Countries
Average Salary of Developed Countries
1. United States – $3263
2. United Kingdom – $3065
3. Germany – $2720
4. Norway – $3678
5. Belgium – $3035
6. Austria – $3476
Average Salary of Developing Countries
1. China – $656
2. Russia – $1800
3. Turkey – $1731
4. Poland – $1536
5. Hungary – $1374
Average Salary of Under Poverty Line Countries
1. Egypt – $548
2. Thailand – $489
3. Philippines – $279
Now you may get an overview that how are the other countries which are under poverty line would be in the list.
Average Salary in India
So for, you have seen the average salary of countries like, developed, developing and below poverty line. Let’s see the average salary in India.
It’s good to hear that an average salary of a person in India has been increased year after year.
The average salary in India is somewhat $295 – $300.
If you compare this average salary with other developed or first world countries, it’s very less. A good news that the average salary on Indians are increasing month by month.
Indian average salary is increasing as there are many different sectors are developing. Those are,
- Professional Services
- Hi Tech
- Financial Services
- Health Services
- IT and ITEs
- Consumer Goods
- Medical Life Sciences
What is an average Salary of an Indian per month?
An Indian typically earns Rs. 32,200 per month. The lowest salary would be Rs. 4,360 and average highest salary would be Rs. 1,43,000.00 per month.
This is the details of average monthly salary of an Indian which include, transport, housing and all other benefits.
Average Salary Comparison by Year of Experience
Let’s read how an individual salary progress over time. A person’s experience is the most primary factor to determine one person’s average salary.
It’s very simple formula that the more experience will bring more salary.
In general, the employees who have 2 – 5 years experience will earn over 32% than the fresher’s and juniors. It’s applicable to all industries and disciplines.
Professionals who have 5 plus year experience will earn on average 36% than the people who are under 5 years experience.
Average salary change is based on the experience from location to location and also depends on the career field as well.
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Average Annual Salary Increment % in India
Let’s see what the annual salary increment structure in India is and how often the employees will get salary increment in their job.
In India, people are getting a salary increase of approximately 9% every 16 months. The salary increment may vary from person to person based on many factors.
The average salary increase in a year (12 months) in India is 7%
Annual Increment Rate By Industry 2019 – 2020
- Banking – 1%
- Energy – 2%
- Information Technology – 3%
- Healthcare – 4%
- Travel – 5%
- Construction – 6%
- Education – 7%
The above details are the average increment of each industry per year in India in 2019. It’s very common factor that the annual increment by industry is based on the economic situation in the country or continental. So the annual increment rate would be change frequently.
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Average Salary Increase Rate by Experience Level
Junior Level – 3% – 5%
Mid-Career – 6% – 9%
Senior Level – 10% – 15%
Top Management – 15% – 20%
Employers have more responsibilities to offer increment to its employees. They have to be more careful in order to retain their employees to have the firm in the profit level.
The average salary increment per year across the world is 3% which is granted on average every 1 year and 4 months.
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Bonus and Incentive in India
Let’s see how much and how often bonus and incentives are being awarded.
Bonus Received – 49%
Bonus Not Received – 51%
Types of Bonuses
Individual Performance-Based Bonuses
The performance based bonus will be offered to an employee based on the individual exceptional performance.
Company Performance Bonuses
Few companies will offer unexpected bonuses to its employees to celebrate its excess earning and profits.
The amount of company performance bonuses may different employee to employee based on their roles.
People who are achieved their assigned goals will get Goal-based bonuses.
Holiday Bonuses and Year End Bonuses
End of Year bones and holiday bonus will be given to its employees without any specific reasons.
Don’t confuse the term Bonus with Commissions. A commission is a pre-fixed rate for the employees for any products or items sold or when the deal is achieved.
Bonus is like arbitrary and unplanned.
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Bonus Rates Comparison by the Career Field
Business Development -High
Marketing / Advertising -High
Information Technology -Moderate
Customer Service -Moderate
Human Resources -Moderate
Average Salary in India for Different Jobs
Let’s see the average salary for different types of job in India
- 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/-
- Professor – Median Salary is Rs 240,000/-
- Personal Banker – Median Salary is Rs 300,000/-
- Sales Officer – Median Salary is Rs 240,000/-
- Online Web Designer – Median Salary is Rs 200, 00/-
Average Salary Trend and Salary Forecast in India
Based on the recently submitted salaries and reports in this year 2020, the average salary is keep on increasing in India. This may increase more in 2021.
These figures may different from industry to industry.
Average Salary 2016 – 29,600 INR
Average Salary 2017 +4% – 30,700 INR
The Average Salary 2018 +1% – 31,100 INR
Average Salary 2019 +2% – 31,600 INR
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We have seen the detailed information about the average salary in India. The most of the average salaries will be varied based on the types of jobs, location and experience as well.