Salary Range by Experience and Industries in India 2024

While it's challenging to pinpoint exact figures due to these fluctuations, this blog post aims to provide a general overview of salary ranges by experience and industries in India for the year 2024, based on current trends and projections.

Information Technology (IT) and Software Services

• Entry-Level (0-3 years): INR 3.5 lakhs to INR 7 lakhs per annum
• Mid-Level (4-7 years): INR 8 lakhs to INR 15 lakhs per annum
• Senior-Level (8+ years): INR 16 lakhs to INR 30+ lakhs per annum

Banking and Financial Services

• Entry-Level (0-3 years): INR 3 lakhs to INR 6 lakhs per annum
• Mid-Level (4-7 years): INR 7 lakhs to INR 14 lakhs per annum
• Senior-Level (8+ years): INR 15 lakhs to INR 25+ lakhs per annum

Healthcare and Pharmaceuticals

• Entry-Level (0-3 years): INR 2.5 lakhs to INR 5 lakhs per annum
• Mid-Level (4-7 years): INR 6 lakhs to INR 12 lakhs per annum
• Senior-Level (8+ years): INR 13 lakhs to INR 20+ lakhs per annum

Manufacturing and Engineering

• Entry-Level (0-3 years): INR 2 lakhs to INR 4.5 lakhs per annum
• Mid-Level (4-7 years): INR 5 lakhs to INR 10 lakhs per annum
• Senior-Level (8+ years): INR 11 lakhs to INR 18+ lakhs per annum

Education and EdTech

• Entry-Level (0-3 years): INR 3 lakhs to INR 6 lakhs per annum
• Mid-Level (4-7 years): INR 7 lakhs to INR 12 lakhs per annum
• Senior-Level (8+ years): INR 13 lakhs to INR 20+ lakhs per annum

Retail and E-Commerce

• Entry-Level (0-3 years): INR 2.5 lakhs to INR 5 lakhs per annum
• Mid-Level (4-7 years): INR 6 lakhs to INR 11 lakhs per annum
• Senior-Level (8+ years): INR 12 lakhs to INR 20+ lakhs per annum

Telecommunications

• Entry-Level (0-3 years): INR 3 lakhs to INR 5.5 lakhs per annum
• Mid-Level (4-7 years): INR 6 lakhs to INR 12 lakhs per annum
• Senior-Level (8+ years): INR 13 lakhs to INR 22+ lakhs per annum

Energy and Renewables

• Entry-Level (0-3 years): INR 3 lakhs to INR 6 lakhs per annum
• Mid-Level (4-7 years): INR 7 lakhs to INR 14 lakhs per annum
• Senior-Level (8+ years): INR 15 lakhs to INR 25+ lakhs per annum

Considerations

1. Location: Salary ranges can vary significantly based on the city or region within India, with metropolitan areas generally offering higher compensation due to the higher cost of living.
2. Skill Demand: Niche skills or expertise in high-demand areas can command salaries above the typical range for an industry or experience level.
3. Company Size and Type: Larger corporations or multinational companies often offer higher salaries compared to startups or domestic firms, though the latter may offer other forms of compensation such as equity or flexible working conditions.

Conclusion

The salary ranges provided here are indicative and subject to change based on economic conditions, industry growth, and the evolving job market in India. As organizations strive to attract and retain top talent, staying informed about competitive salary ranges and compensation trends is crucial. For professionals, understanding these ranges can aid in negotiating salaries and making informed career decisions.