While the starting salaries and salaries at <10 yoe have really sky rocketed and this is good for the ecosystem, wanted to understand what happens to salaries in tech/product post 15 yoe+.
I’m curious about this especially because it doesn’t tie up with income tax data. Assuming seniors leaders in tech and product would be making 1 cr+ easily and most of these would have formal streams of income that can’t be hidden easily, income tax department reports only around 1.3 lakh individuals (2 year old data though) who had taxable income above 1 cr. Even if the number has risen to 2 lakhs now, it still doesn’t tie back to the stories here of many people making above 1 cr.
Is the income tax data wrong or are the salaries plateauing at around 80-90L or have people found some amazing ways of saving tax. Just curious!
Most people don't make 1 cr at 10 or 15 yoe in IT industry in India.
The high salaries you see are only from top unicorns and few selected MNCs. It's a data bias as high earners are most likely to reveal their CTC.
There would be hardly 50 companies in India paying above 1 cr for senior/staff level. And assuming each of these companies having around 100-150 folks in that position, total number of such people in IT would be around 10k at max.
1)Open company, become an employee of the company. Company pay less taxes
Become a consultant/contractor. Expenses can be net-off
Retire or take a part time role
Valid methods but I’m still wondering about people drawing high salaries from startups. Is it normal for startup to offer such methods (like quit and become a consultant) for employees to save tax?
I don’t even know someone with 15 yoe+ in industry closely to ask them 🙃
I know that post COVID boom had many folks making 50-80lpa. But till what level does the comp rise? How many people are making 1cr, how many at 1.5cr and how many 2cr+?
At what YoE are these achieved?
You all might obviously guess that I'm speaking about the other two posts in which each of them in their early 20s making 50+ LPA and 70+ LPA respectively.
Honestly curious, how do these guys get paid so much? I feel like salaries in IT...
Curious to know how much people end up earning in the long run. While there is a lot of buzz around current salaries in these threads, from a financial planning pov wanted to understand how salaries grow over time. Does a plateau come in...
