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SqueakyPancake
SqueakyPancake
Stealth

Fun guesstimate

Can you estimate the number of working professionals in India?

Assumptions Tier 1 only Age 21 to 60 Has a desk job Salary above 1L per month

Feel free to comment for any clarification.

11mo ago
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GigglySushi
GigglySushi
Stealth11mo

  1. Total population 140cr. Urban pop = 40% so relevant = 56 cr

  2. this is distributed between ages 0-80 ( assume 80 is the avg life exp). So people between 21-60 is roughly half. Or 28 cr. Now 21-30 7cr , 30-40 7 cr, 40-50 7 cr and 50-60 7 cr people in each bracket

  3. by working professional I am only including people working in non gov jobs.

  4. ages 21-30 - 7 cr people . Assume 50-50 men women. 90% emp rate in men 90% women so total workers = 6.3 cr. 1 lak+ salary is probably top 10 % so 63 lakh people here

  5. age 30- 40 ( 90% men working and 80% women ) = 3.15 + 2.8 = 5.95 cr. Now 1 lakh + is top 40-50% people = roughly 3 cr

  6. age 40-50 ( 90% men working, 60% women) = 3.15 + 2.1 = 5.3 cr roughly. At this age 90% folks make this > 1 l a month so 4.77 cr

9 ) age 50-60 ( 80% men and 50 % women ) = 2.8 + 1.8 = 4.6. now all 100% roughly make 1 lakh plus.

Total 63 + 300 +477 + 460 = 1300 lakh or 13 ce

GigglySushi
GigglySushi
Stealth11mo

If u work at grapevine and looking to monetize the app/ launch a premium version have a good number of such corporate folks u can target

MagicalPancake
MagicalPancake
Swiggy11mo

As the question is about salaried employees don't you think it's easier to estimate this using the no of ITR returns filed last year? Around 7 cr filed ITR last year and to estimate the count of people earning above 1L we can just remove those who filed a no return ITR which brings the number down to 2.5cr. And this 2.5cr number consists of businesses, freelancers and salaried employees. Best case assumption here can be that 30% of these people are salaried professionals earning above 1L pm i.e 75L.

SqueakyPancake
SqueakyPancake
Stealth11mo

The total number of demat accounts is about 12.7 Cr and there are about 8 Cr taxpayers in India. So 13 cr seems off to me. @Mastikhor

SquishyPancake
SquishyPancake
Stealth11mo

Fact: If you make above 1 lac per month, you are in the top 1-2% of India. (Check survey's and articles)

So, 1.35 crore does that.

Out of this, my assumption is only 70% of them have a desk job, meanwhile other jobs being like oil rigs, sailers and stuff so

70%-75% of 1.35 crore = 91 lacs - 97.5 lacs

So actually my realistic assumption would be between 93 lacs to 1.03 crore with a margin of 3% , plus and minus

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