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...
Earning 81 lacs(including variable) after 10 yrs of work Ex, graduate from IIT. Non tech role. Where do I stand against the market?
If you are salaried and earning 1Cr+, how are you saving on taxes? My net tax burden comes up around 40 lakh every year (and it hurts)
Looking to understand if and how you are able to save on taxes
Any news on who is getting it, what's like an average payout for eligible employees? As per the news article, approx 19000 employees are getting it. Anyone has insider info?
Got around 3CR