Earn Rs 25,000 or Higher? Your Wage Ranks in the Top 10% in India  (2024)

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Earn Rs 25,000 or Higher? Your Wage Ranks in the Top 10% in India ? ›

Your Wage Ranks in the Top 10% in India. A new report by the Economic Advisory Council to the Prime Minister throws up sobering figures on the inequity levels in India. Mumbai: If you earn a salary of Rs 25,000 or higher, then your pay ranks in the top 10% of the total wages earned in India.

For instance, in India, if you earn Rs 25,000 or more in India, then your salary comes under the top 10 per cent of the total wages earned in India.

According to the report, income data from the Periodic Labour Force Survey (PLFS) 2019-20 showed that a monthly salary of Rs 25,000 is already amongst the top 10 per cent of total incomes earned, pointing towards some levels of income disparity.

A decent earning and average salary in India is around INR 3 LPA. If you earn up to INR 25K in a month, you earn a decent salary. Your salary also depends on various factors. Like the industry, you work.

It stated that only 10 per cent of Indians earn higher than Rs 25,000 per month. Read more insights here. New Delhi: If you earn Rs 25,000 a month in India, you are among the top 10 per cent in terms of income.

An Indian earning Rs 3,00,000 per annum or Rs 25,000 per month, would be placed in the top 10 per cent of the country's wage earners.

With a combined income of Rs 20,000 a month, a couple can still lead a decent life in any Indian city. Three experts do the math for you keeping in mind the costs of living in 3 cities. With a combined income of Rs 20,000 a month, a couple can still lead a decent life in any Indian city.

It would be around 60-odd lacs. Considering that this survey is about 3 years old and incomes shot up drastically in that period, I would say someone earning about 80-90 Lacs today will be considered in the top 1% of Indian households. I guess that would be the definition of rich.

In other words, the average monthly salary comes to around $428.49 per month (based on the exchange rates that were applicable in July 2021).

The report has clubbed these groups into seven categories, ranging from the “destitutes” (those with an annual family income of under Rs 1,25,000 or$1,700 in 2020-21) to the “super rich” (annual family income of over Rs 2 crore or $270,000 in 2020-21) with the middle class in between.

Is 50 lakhs a good salary in India? ›

If you earn more than 50 lacs a year you're in the top 0.3% of India. Above 25 lacs, you're in the top 1.2% of India. Only 3.2% of Indians earn above 15 lacs a year.

What salary is needed to live comfortably in Mumbai? Depending upon the standard of living, your average salary should be Rs 40,000 - Rs 60,000 per month.

Income tax data shows that only 131,000 Indians earned above ₹1 crore annually in FY21, roughly 0.01% of the country's population. A 2020 Bloomberg report said India's top-paid 1% earn ₹55 lakh and above. To be sure, many businesses and self-employed individuals under-report incomes to avoid higher taxes.

To be in the top 5 percent, your minimum wealth should be $45,909, while you require a minimum of $22,476 to be among the richest 10 percent of Indian adults. In rupee terms, you should have just Rs 16.74 lakh to be in the top 10 percent.

India's top 1% owned more than 40.5% of its total wealth in 2021, according to a new report by Oxfam. In 2022, the number of billionaires in the country increased to 166 from from 102 in 2020, the report said. Meanwhile, it added that the poor in India "are unable to afford even basic necessities to survive".

A more recent survey by Indian think tank People Research on India's Consumer Economy (PRICE), which defined a middles-class person as one with an annual income of Rs 5-30 lakh, found this category of Indians to have increased to 31 percent of the population in 2020-21 from 14 percent in 2004-05.

The average earnings of those in the top 10% were roughly $173,000 in 2020, according to a study by the Economic Policy Institute (EPI). Landing in the top 10% is a fairly attainable goal for upwardly mobile Americans.

The gap between the top 1% of earners and average Americans is stark. In fact, the average American household earns a median income of under $70,000, but in some places, the top 1% can earn as much as $955,000.

Is 40 lakhs a good salary in India Quora? 40 LPA is a very less salary with FIVE Years of Experience. You should atleast get 40 Cr Per Month because 40 LPA is very less that too in a city like Bangalore.

Is 1 lakh good salary in India? ›

The ₹1 lakh salary gives enough disposable income for young earners to invest. Young professionals tell how they manage with the salary that has been a benchmark for a successful career.

According to the latest US Census data, the Indians now have an average household earning of $123,700, i.e a little over ₹1 crore, PTI reported. The median earnings of the Indians there is nearly double the nationwide average of $63,922.

10 lakh/month OR has assets over 20 crore in India is "rich" ( holds true even for an expensive city like Mumbai in my definition ).

The answer is NO. Using the concept of PPP (Purchasing Power Parity), we can get a more accurate estimate for the conversion. Let's get started! According to PPP, a salary of INR 100000 in India is equivalent to INR 359468.61 or USD 4547.61 in United States.

Working in the US means more salary but also more expenses. How does it compare with India? If you apply purchasing power parity, a $1 lakh salary per year equals Rs 23 lakh in India, not 80 lakh. See prices of a few everyday items from Numbeo.

So, for 30 LPA in India, the equivalent salaries are: 165K USD in USA.

Affluent households earn more than ₹30 lakhs a year. Middle-class households earn from ₹5 lakhs to ₹30 lakhs a year. Aspiring households earn from ₹1.25 lakhs to ₹5 lakhs annually. Destitute households earn below ₹1.25 lakhs annually.

With a total of 187 billionaires, India secured third place on the 2023 M3M Hurun Global Rich List in terms of the number of billionaires.

In Sushil's case, the answer to is 1 crore enough for retirement is no. While ₹1 crore seems like a huge number, it isn't sufficient to survive in India due to high inflation and lack of social security. Retirement planning isn't easy, and as you make calculations, it is better to be conservative.

2) In the ₹10-15 lakh salary bracket, there were more than 22 lakh taxpayers. 3) More than 7 lakh individuals fell in the ₹15-20 lakh income bracket while those drawing an annual salary in between ₹20-25 lakh were about 3.8 lakh in number.

Is 42 lacs good salary in India? ›

42 lakhs per annum income is very good .

30 LPA is awesome for a middle-class person. But more is possible for a person earning 30 LPA as an employee (because that requires near-mastery of the skill, in this case, software development).

And the answer is Yes, definitely yes. I know many families whose monthly income is less than 10k or 15k a month and they stay in rented flat/chawl room & surviving. Its all depend on lifestyle you adopt. You can't expect high standard lifestyle with this salary.

According to Mercer's 2022 Cost of Living survey, Mumbai is the most expensive city to live in India.

Surgeons, Gynecologists, and Prosthodontists are the highest-paid doctors in India, with annual salaries averaging INR 1.91 crore, INR 1.77 crore, and INR 1.67 crore, respectively.

1. Which job has the highest salary in India? Jobs with the highest salaries in India are medical professionals, data scientists, machine learning experts, blockchain developers, full-stack software developers, investment bankers and product managers.

As of April 2023, India has 167 billionaires, which put the country third in the world, after the United States and China. Mukesh Ambani the chairman and largest shareholder of Reliance Industries, has been the richest Indian for 14 consecutive years.

A study by the Economic Policy Institute (EPI) found that the average earnings of those in the top 10% were roughly $173,000 in 2020.

To be in the top 5 percent, your minimum wealth should be $45,909, while you require a minimum of $22,476 to be among the richest 10 percent of Indian adults. In rupee terms, you should have just Rs 16.74 lakh to be in the top 10 percent.

90% of Indians make less than 25,000 monthly. If you're making > 1L a month, you're among the top 3%.

How much wealth does the top 10 percent have? ›

top 10% of adults hold 85%, while the bottom 90% hold the remaining 15% of the world's total wealth, top 30% of adults hold 97% of the total wealth.

They found that the top 20% of all Americans earn over $130,000 in income. Thats over 5 times more than the bottom 20%.

Someone in the top 10% has a net worth of $1,219,126, while someone in the top 1% has a net worth of $11,099,166, according to the Federal Reserve Survey of Consumer Finances from 2019.

Furthermore, barely 3% of Indians make more than Rs 25 lakh per year. Furthermore, barely 3% of Indians make more than Rs 25 lakh per year. According to the survey, the share of the salaried class increases as income levels grow. Salaried people account for 21.6 percent of the population.

The average Wealthy salary ranges from approximately ₹6.2 Lakhs per year for a Territory Manager to ₹19.5 Lakhs per year for a Senior UI UX Designer. Salary estimates are based on 135 Wealthy salaries received from various employees of Wealthy. Wealthy employees rate the overall salary and benefits package 3.9/5 stars.

Indian Median Salary

The median salary in India in 2022 is ₹29,400 per month.

10 lakhs per annum mean the person earns around 80 to 90 thousand a month. Well, technically the person can easily lead a comfortable middle-class lifestyle in India. Atleast at Kolkata earning that much money is enough to be labeled as belonging to High-Income-Group.

To be in top 1% of earners in India requires an annual income of $77,000 (₹55 lakh), according to data compiled by Bloomberg.

Among the “rich”, or those with an annual household income of over Rs 30 lakh, every household owns a car. In the category of “crorepatis”, there are al-most three cars per family.

No, a millionaire isn't in the top 1% of wealth in the U.S. To be in the top 1%, you would need to have a net worth of over $11 million. To be in the top 10%, however, you need a net worth of $1.22 million, which means most millionaires are in this range rather than in the 1%.

What income is rich? ›

Based on that figure, an annual income of $500,000 or more would make you rich. The Economic Policy Institute uses a different baseline to determine who constitutes the top 1% and the top 5%. For 2021, you're in the top 1% if you earn $819,324 or more each year. The top 5% of income earners make $335,891 per year.