Weekday has revealed that engineers working for startups get more annual salaries when compared to Indian IT companies like Wipro, TCS, and Infosys, among others.
The data shows that employees are earning tens of lakhs per annum are particularly high if they are working with one of the product startups, instead of IT companies like Wipro, TCS, and Infosys.
These figures are much higher compared to what engineers are paid in IT companies like TCS, Wipro, and Infosys which pay just around 10 lakh per annum to software engineers with 4 years of experience.
The starting salary offered by these IT companies is around 7 lakhs on an annual basis, which is significantly less than what startups can offer. On the other hand, Shopcules pays around 12 lakh annual salary to engineers with 4 years of experience.
On Twitter, Amit Singh shared a tweet saying, “How much do Indian startups pay their software engineers? How long do they stay?, and How many hikes do they ask for?”
“We at Weekday have collected compensation data of more than 50k engineers and a lot of fun benchmarks. Thread on Indian software engineers’ salaries”, the Tweet added.
💰 How much do 🇮🇳 Indian startups pay their software engineers?
— Amit Singh (@iamitsy) September 26, 2022
⌛ How long do they stay?
📈 How much hike do they ask for?
We at Weekday have collected compensation data of more than 50k engineers and lot of fun benchmarks. Thread on Indian software engineers’ salaries 🧵:
“How much of a difference does working in a product company (those who make their own products) vs a service-based company (those who make products for other companies ie clients) make in determining engg salaries? Answer: A lot. As much as 160% higher salaries in product startups”, the tweet further added.
He further shared, ” Which is the highest paying unicorn among the 107 Indian unicorns? Answer: Sharechat @sharechatapp (Rs 47LPA for 4 years exp Engg vs Rs 28L avg among all unicorns. Followed by @CRED_club and @Meesho_Official Did you know that PayTM & Oyo pay less than half Sharechat’s?”
The survey reveals that Sharechat pays the highest to its mid-level software engineers. CRED and Meesho come next on the list and pay 40 lakh and 39 lakhs annually, respectively, to their software engineers with similar experience.
To people with the same level of experience Zomato, Paytm, and Flipkart pays around 32 lakh, 22 lakh, and 36 lakh, respectively.
In comparison, engineers working at companies like Infosys stay for around 2.4 years on average. As per the study, engineers working for Byju stay at the company for around 1.4 years on average while engineers at CRED stay around for 1.8 years on average.
The data reveals that one reason why software engineers tend to have jobs is that staying in one place often means on average 10 percent job hike per year, which tends to stagnate the salary over time. Weekday analyzed the salaries of around 50,000 engineers. To know more kindly Click Here to check more details.
