Question

Is a salary of 4.5 LPA good for a fresher aged 22?

Answer 1

I started my career from ctc of 4 LPA. But in 2-3 months of joining,they increased the salary to 5 LPA for every freshser that joined that year.

I was working in Bangalore with this salary when I was 22.

I am not sure about your location and your lifestyle but I managed my expense with that salary.

Obviously if you are in a place like Bangalore your expenses already would increase.

I used to live in a pg, firstly in sharing then I moved to single sharing which used to cost me around 11k with everything included. So my food,wifi,laundry everything was covered. I used to buy myself some snacks which I would hog on weekends or after coming from office. It would cost around 2k or 3k depending on what you are buying.For me this would include buying basic necessity.

I would also eat out and order on some days which costed me another 3k 4k.

I used to do some shopping in some months which would be max 5k.

Rest 10k I used to save…so I somehow managed with that salary.

Answer 2

Yes bro, it's more than good for a 22yrs person.

As you said you are a fresher. So, rather than looking for a good package right now, you should look for an organization where you will get better experience, where you will be able to build up your skills.

Yes, money is important, rather one of the biggest motivation to do any work. But it's individuals choice to either run after money from the start or to run after the knowledge and ways that will earn you way more money in future.

Now, coming back to your question: 4.5 LPA as a fresher. I am an IT professional so will answer your question as per my domain only.

Almost every IT engineer (person working in Indian IT industry) starts looking for a switch in job in 2–3 years. And No one settles under a hike of atleast 50% in their first switch (remember, Indian IT industry follows a norm of only 30% hike while hiring an experienced employee). But as the package of 2–3 yrs experienced person isn't that high so many companies agree to give about 50–60% hike in salary(some even give 100%, that all depends on your skills). So, if your package is 4.5 LPA then by the time you switch your company i.e. after atleast 2 annual appraisals, your CTC will be around 5.4–5.5 (as per 40k–50k hike per appraisal). Now if you go for a switch with 50% hike, your package will be more than 8 LPA.

Now, let's do some rough calculations:

It's common to see any person making atleast 4–5 switches in first 10–12 yrs of his work life.

So, if you work in your second company for 1.5–2 yrs then in your third company you will again get a hike of atleast 30%, which will take your package to around 10.5 LPA (and that also after just 3+2+2(in current company i.e. 3rd company) = 7 yrs of your experience. So, in next 4–5 years you will be having a package of around 16–18 LPA. By the time you will be 22+12= 34 years you will be earning around 1.4L per month.

What would you demand more than this??

Note: All calculations shown are rough calculations made on assumption. You can earn more or less based on you skills and efforts.

Hope that solves your confusion.

Answer 3

Yes, it totally is. Being at the age of 22 and earning a salary of 4.5 LPA is just too good as a fresher.

I don’t understand that why do people always ask these type of questions like: I earn 50 LPA at 35, is it good ? I am 40 and I earn 75LPA, how do I earn more ?

I just want to tell all of you something really great and something very important, there are people in India brother who are either freshers or be it even experienced in their relative field but still they are not able to earn 4.5 LPA because of the Indian job market. I am not saying that 4.5 LPA is something which every person should get or every fresher should be happy about, I’m pretty sure that there are people for whom sky is the limit and are ready to work their asses off day in and night to reach that level.

As you mentioned, 4.5 LPA at the age of 22 then just calculate. Lets suppose

You stay at this office for 2 years with an annual appraisal of 10% then you reach approx 5 LPA while moving out from here and you are still just 24.

You switch to a new place and any Indian wouldn’t be willing to accept less than 30% raise while switching (depends upon the job requirement and field of job) so now at 24 only you are getting approx 6.5 LPA !!!!!!!

Earning is not something which is in our hands, you never know that someday you outperform everybody at your work and your manager is ready to have that talk with you and someday you never know that even while having a great package to boast of, you are outperformed by everybody in your team wherein you couldn’t stand up to the expectation where again you are called in to have the talk !

It is just that the salary package is a number which makes us and our family proud of, age is relatively a number in proportion to the pay out when we know that we are going to work for the rest of our lives !