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A good salary in India enables you to support your desired lifestyle comfortably. However, to determine the monetary value of a good salary, you need to consider a few additional factors, such as where you live, the number of people you鈥檙e supporting, or your industry.

Although judging your salary directly against others can be tempting, that approach tends to ignore one or several influences. To illustrate, let鈥檚 look at the average wage in India.

According to the Ministry of Statistics and Programme Implementation, the average monthly wage across all occupations is 鈧�20,039 as of June 2023 [], translating to an approximate annual salary of 鈧�2,40,468. For a person living in Telangana, whose average annual income is 鈧�3,08,732, earning above the national average may be considered very good. However, a person living in Jammu & Kashmir, whose average income is 鈧�1,32,806, may disagree []. Similarly, a single person supporting only themselves on a 鈧�20,000 monthly income may feel comfortable, while a person supporting a family of four on that same salary may feel stretched.

Take a closer look at the different factors that can influence your salary and walk through the thought process to help you determine what a good salary is for you.

Factors that impact salary

Several factors can affect your salary, and each helps you assess whether you are receiving adequate, fair compensation. Some common factors to consider are your:

• Location

• Skills

• Education

• Industry

As you assess whether your wages are 鈥済ood鈥� compared to your peers鈥攐r if you are trying to determine a fair salary to ask your employer鈥攜ou鈥檒l typically want to consider each of these factors together.

Location

Your cost of living will vary depending on where you live, meaning the same lifestyle can cost more or less money in different locations. If you live in an area with a high cost of living, you鈥檒l require a higher salary than you would in a place with a lower cost of living to afford the same lifestyle.

Because the cost of living varies by location, a good salary can also vary by location.

Average Indian salary by location

Consider the average salaries across all occupations in various metropolitan areas across India.

*Average annual salary data is sourced from Payscale as of November 2024.

Skills

Employers look for candidates with skills to succeed in the workplace and contribute to the success of their companies. These include both technical and human skills. You typically learn technical skills in the classroom or from self-study, such as programming, statistics, project management, and first aid. Human skills help you interact effectively with people, including your colleagues, supervisors, and clients. Common human skills are communication, organisation, collaboration, and problem-solving.

Some skills are in higher demand than others and pay more. Here are some in-demand skills in India and their average annual salaries.

*Average annual salary data is sourced from Payscale as of November 2024.

Education

Another way to gauge experience may be by education level. Furthering your education is often seen as one way to exemplify skills and knowledge in your field, typically leading to higher salaries. For example, teachers may qualify for a higher salary after earning their master's. Note, however, that different fields tend to have varying educational standards and requirements.

Take a look at the average annual salary data by educational level.

*Average annual salary data is sourced from Payscale as of November 2024.

Industry

Certain industries are more lucrative than others, so your industry can determine how much money you make. Similarly, your salary can fluctuate depending on your specific role within your industry.听

Average Indian salary by industry

Consider the average salaries across all occupations in various industries in India, according to Payscale:

*Average annual salary data is sourced from Payscale as of November 2024.

You can use several tools that aggregate data from current employees and employers in various locations and across all experience levels and industries to determine a specific fair market value for any given position. As you conduct salary research, use tools such as , , or to estimate what other people in similar situations are making.

Determining what a good salary is for you

Typically, your bottom line doesn鈥檛 depend on your location, education, or industry. Still, there will be times when you want to consider your salary needs first and then find a job that will fulfill those needs.

To determine your ideal budget, list your living expenses and lifestyle desires. Some items that may make it into your budget include:

• Housing

• Groceries

• Car payments

• Education

• Entertainment

• Long-term savings

You can work with a weekly, monthly, or annual budget and then use that to determine what a good salary would be for you.

Ways to increase your salary

You can pursue strategies to increase your salary to better align with your financial goals. Here are some ideas to get started:

1. Expand your skill set.

You may qualify for more advanced positions as you gain new skills or strengthen your current skills. Consider taking an online course, volunteering for a new project, or earning a certification to showcase your skills. The Government of India is committed to helping individuals develop marketable skills. Visit to assess the skills most helpful for your career development and potential salary increase.

2. Switch to a higher-paying industry.

Since some industries pay better than others, you may be able to earn more money if you move into a new industry or job function. You likely already have several transferable skills that show your qualifications.

3. Ask your employer for more.

As you conduct salary research, you may notice that you aren鈥檛 earning the expected market value. Asking your employer for a raise鈥攐r, if appropriate, a promotion鈥攃an be one way to ensure fair compensation.

4. Incorporate alternative income streams.

You may consider starting a side hustle or creating a passive income stream. Both options can increase your overall income鈥攈owever, they also require some additional work.

Getting started

A good salary in India depends on factors such as your location, education, and industry. The average national wage is 鈧�2,40,468 annually [], but it can vary significantly by city. Consider your living expenses and desired lifestyle to determine your ideal salary. You can increase your earning potential by acquiring new skills, switching industries, or negotiating raises.

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