To make sure you are not missing out on opportunities of income growth, have a look at these key factors that decide software developer salary:
Factors that influence the salary of a software developer:
- Level of relevant experience
- Type of company
- Size of company
- Work location
As a fresher in India, you can get up to Rs 6 Lakh starting package.
Here is the average salary paid in India for different levels of experience
- An early career Software Developer with 1-4 years of experience earns Rs 690,966 based on 239 salaries.
- A mid-career Software Developer (5-9 years) earns Rs 1,037,789 based on 77 salaries.
- An experienced Software Developer (10-19 years) earns Rs 1,680,784 based on 13 salaries.
In some companies, even if you have prior experience of say 5 years in the IT industry in roles other than a software developer, you might be considered as a fresher and given the package only a little higher than a software developer with 2 year experience.
2. Type of company
Product companies generally pay more than service companies. Service companies rely on clients to set the amount for the entire project and release the payments according to the funds available. In a product-based company that is not the case.
3. Size of the company
Even within the service companies, a well-established company with more industry experience will pay you less than a start-up or a company that is just setting its foot in the market. Eventually, as the company size grows and stability increases, most companies recruit more developers which means the allocated amount gets distributed accordingly.
Tier-1 company: a company of the size of Infosys, TCS, Wipro
Tier-2 company: companies that have less than 5000 employees, predominantly service-based
Tier-3 company: Has 500-1000 employees and about 10 years of industry relevance
Tier-4 company: Service-based company, with 100 employees
For example, you might have learned C in your graduation, however, a person with Java or Python knowledge will be given preference over you because the demand for these technologies is more in the market.
5. Work location
Last, but not least, work location is an important factor that affects the salary of a software developer. Within India, the highest paying jobs are in Gurgaon, followed by Bengaluru, Pune, Hyderabad, Mumbai, Chennai, and Ahmedabad in that same order. A software developer in Gurgaon earns 24% more salary than anywhere else in India.