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Income of 20L puts you in the top 1% of income earners in India IITs are so incredibly competitive for families because getting placed out of an old IIT gives you that on average Few places can "assure" you an income push right to the top 1%, at the age of 21

Income distribution for 20L being the top 1% threshold from: https://wid.world/wp-content/uploads/2024/03/WorldInequalityLab_WP2024_09_Income-and-Wealth-Inequality-in-India-1922-2023_Final.pdf Quite a fascinating study on income/wealth in India

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Mayank Rasu

Vice President, Quantitative Analytics - Model Development at Barclays Investment Bank

3w

Here are some stats that can squarely debunk the income percentile study referenced in this post 1) More than 40 million passenger cars sold annually (excluding commercial vehicles) 2) 200 million annual air passenger traffic (only within India excludes Indians travelling abroad) 3) 10 million annual iPhone sales. 4) 350k annual home sales with one third categorised as luxury homes. The paper estimates the adult population of India as 92 crores meaning 92 lakhs (9.2 million) Indians are top earners. If not even 10 million are earning 20 lakhs annually in India then who is doing all these high value transactions? The top income percentile studies in India are not even worth the paper they are printed on due to the industry scale under-reporting and obfuscation of earnings. The paper that you have shared also admits the elephant in the room i.e. reliability of data. So while studies like these can make a gullible 24 year old IITan smug about his "earning AIR", the paratha seller outside that IIT is silently planning to purchase his next "Challe Waali Gaadi".

Vishwajeet Sinha

Digital Transformation Leader | SPJIMR MBA

3w

This is a very poor source to quote.

Chandra Mouli Upadhyay

Senior Consultant @ Cognizant | Energy & Utilities | Product Management | Business Analysis | SPJIMR | SAFe 6.0 POPM

3w

Better to look at micro markets like Mumbai, Bengaluru, etc than India as a whole. US, EU etc are developed so over all there is some homogeneity in earnings. But in India, it varies drastically. Earning 10L will put you in top 10% and 5L in perhaps 20%. But quality of life does not significantly improves.

Roshni Chellani

Helping you land your dream job | Helped 7000+ individuals in the last 5 years | 53K on Instagram | Staff MST at MediaTek | Ex-Apple, Intel, Ericsson, Qualcomm | Speaker | Mentor

3w

Colleges don't change the world, ideas do.

Ishan Gujrathi

LAM Research | Supply-Chain | GLIM-C 'Co 2024' | KJSCE

3w

According to recent data, an income of 20L (~ $2,500 USD) per annum in India puts you in the top 5% to 10% of income earners, not the top 1%. Additionally, while IITs are highly competitive and prestigious, the average starting salary for IIT graduates is around 12-15L (~ $1,500-$1,900 USD) per annum, not 20L

Manish Jain

Fin-Educator | Global Markets | 3 X CTO | Cloud & Data Science | AWS X 2 (Certified Security Specialist, Certified Solution Architect) | HCD + CX

3w

Most Kirana shops earn more then 5000 per day. They are covered in GST and not income tax. The 1% earner thing has a caveat of salaried and does not apply at country level.

Arpit G.

VP/CTO FinTech|eCom|AI|SAAS|AdTech|Enterprise

3w

Even if we ignore the data, as many have pointed out that lot of people don't file income tax. So its very hard to know how much they make. We have bribes to babus, corruption everywehere, many SME, solopruners runnig food stalls and thelas who are making upwards of Rs1lakh a month, some of these folks like contractors etc are in 2-4lakh/mt bracket. Property, car dealers make upwards of 3-6lakh/mt. Bit you are right getting a good job from the start is a great benefit that has potential to lift you out of middle class, and there is no doubt that IIT, UPSC, IIM all help in this regds. We have ton of black money in Real Estate, farming etc that never gets reported our black economy will be at least 50% of total GDP. So India in that regds is already 5T $ as it is! https://www.youtube.com/watch?v=Sr0J3LI_Y-0&pp=ygUWUmVhbFRhbGtzMSBibGFjayBtb25leQ%3D%3D

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