The perception of wealth is far removed from reality in India’s income-inequality. | Pexels/Canva
KEY HIGHLIGHTS
- Sourav Dutta, an investor, is drawing flak after he said a Rs. 25 lpa salary ‘in today’s age is nothing’.
- It was pointed out to him that even in IT, which is a relatively high-paying industry, people take 10 years to approach those income levels.
- The top 1 percent in India own 77 percent of its national wealth, according to Oxfam.
A seemingly out-of-touch investor was given a reality check after suggesting a Rs. 25 lakh per annum (lpa) salary is “nothing” in the current financial landscape. “Even a 3-5 year experience software engineer gets more than this. Are tech salaries distorting the market?,” Sourav Dutta asked in an X post.
The tweet ignited a debate, with the investor drawing backlash from all quarters. Several responses went beyond criticism, pointing out how far off from reality Dutta’s reading of the market actually was.
“Who are 3-5 year techies ? I know many IT guys/girls , they earn 20-25 LPA after 10 year of experience. May be few startup offer such high package to new guys but not they big tech,” one wrote.
However, the poster doubled down, claiming that 5 years of employment correspond to a 30 lpa salary.
Another, attacking Dutta ad hominem, said: “This guy earned some 8-10 cr from market and now downgrading everyone below that lol
Listen if you are still under 100 cr you are still middle class how abt that ?”
It was clear that the comments section wasn’t too happy with the original statement, with some characterising it as a “distorted” view on pay that was limited to high-income areas like HSR in Bengaluru and Gurugram.
Dutta disagreed, claiming IT employees in Mumbai, Hyderabad and Bengaluru’s own Whitefield have been earning more than what he considers to be “nothing” in today’s age.
While there’s no denying that some packages run as high as 25 lakh, isolated examples often widen the gap between the perceived wealth and the lived reality of most people.
Tyler Fields is your internet guru, delving into the latest trends, developments, and issues shaping the online world. With a focus on internet culture, cybersecurity, and emerging technologies, Tyler keeps readers informed about the dynamic landscape of the internet and its impact on our digital lives.
