As it is always said “The most powerful words other than ‘ I LOVE YOU ‘ ? are “Your salary has been credited !” ? About 1000 years ago, people recognized each other by the land that they own. About 500 years ago, people recognized each other by their parent’s profession. But nowadays, people recognize each other by their salary or income !?
I know a lot of you guys like me are interested in knowing the salary of an Engineer ! ? So I did some research on the salary of some engineers who are freshers as well as engineers who are working since a long time. The figures that I have quoted below is highly volatile and might fluctuate based on the person’s experience and so on. But before going into the salary I want to describe how much an Engineer has to spend in order to get the degree ! ?
Under the university of mumbai, the average annual course fee is about Rs 1,20,000 (1 lakh twenty thousand ) for 1 year. In certain colleges, it is about Rs 1,50,000 per year. So for the entire course, it would cost you about Rs 4,48,000. If you have joined any coaching classes during your engineering course or say for your engineering entrance exam then it would be much more than this amount.?
Most students prepare for iit-jee (an entrance exam meant for iit aspirants) during their 11th and 12th standard. Some prepare for iit from 8th standard itself ! ?
Let us assume a rough figure of 7 lakh rupees that has to be spent…
Now let us jump straight into the salary !
Computer and IT engineering freshers can expect Rs 20K – 25k per month.(most people earn this much). Some freshers from this branch can expect a salary of Rs 40,000 – 60,000 per month. However it is difficult to get such a job. A Very few people earn a salary of more than 1 lakh per month.
Electronics and telecommunication ( EXTC ) freshers can expect a salary of about Rs 20k – 30k per month but that too depends on the type of industry. Most EXTC freshers that I know have changed their stream to IT. The same is true for other branches as well.
Electrical and Mechanical engineers would earn anywhere between Rs 10k to 15k (for small scale industry). The salary of Engineers at large scale industries could be around Rs 25k to 30k per month. But I have personally met some engineers from these branches who earn more than Rs 1 lakh per month.
A handful of people in India get a Job offer of Rs 2 -3 lakh per month as a fresher for working as a mechanical engineer.
Now let us talk about the cost of living in mumbai –
McMeal at McDonalds (or Equivalent Combo Meal ) – Rs 250
Cost of milk ( per liter) – Rs 43.50
Rent per month in city ( 1 bedroom) – Rs 11,000
Rent per month outside city ( 1 bedroom ) – Rs 7000
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) – Rs 8,00,000
Price per Square feet to Buy Apartment in City – Rs 30,200
Price per Square feet to Buy Apartment outside City – Rs 15,000
The average salary required to live or say survive in major cities like Mumbai or Gurugram is Rs 30,000 per month (without tax). So, do you think an engineer earns enough salary to survive in such a competent economy ?
However there is another fact that you must know :
Many Engineers after completing their degree do post graduation i.e MS or MBA from foreign universities. I had the opportunity of interviewing a few people who had done their post graduation from the US and are working there. However, I cannot mention their names over here for obvious reasons.
Now, the expense of studying for MS degree from abroad is very high. It took one of my friend around 30 lakhs for his academic cost ( not including the other expenses such as cost of living, etc) ? The cost of living in the US is very high and is the main reason why students are hesitant to apply for these…… However, the salary of the engineers working abroad is very high. It is always a six figure salary. One of my friend who is an extc engineer earns around 2.5 lakhs per month.
Now let us talk about the cost of living in USA (in rupees) –
McMeal at McDonalds (or Equivalent Combo Meal) – Rs 455
Cost of milk ( per liter) – Rs 55.76
Rent per month in city ( 1 bedroom) – Rs 76,000
Price per Square feet to Buy Apartment in City – Rs 48,000
The salary of engineers working in the US is quite high even though the expense is high. One may find the cost of living in the US too high if he or she is living a lavish lifestyle. But if he or she doesn’t spend too much then it might justify the salary. This fact holds true for India, too.
This is what one of my friends said when I interviewed him. And that’s it for now !
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