Pay on hourly basis, 70 hour/week debate will end: Entrepreneur Akshat

Social media influencer and entrepreneur Akshat Shrivastava recently sparked a debate about the pay structure in Western countries compared to India. He shared a post suggesting that the issue of a 70-hour work week could be addressed by implementing a pay-per-hour policy similar to that of the West.

In his X post, he started by writing how the salary increase of IT freshers hasn’t even beaten inflation.

“Your salary should double (worst case) every 7 years. 

(This is assuming you get a 10% increment each year)

But here is the situation of entry-level IT salary jobs in India:- 

2012: 2.45 Lakhs

2022: 3.55 Lakhs

The salary growth in entry-level IT jobs hasn't even beaten inflation growth. 

This is after paying lakhs in education fee for colleges. 

And, this situation is really sad,” Shrivastava wrote on X.

He suggests ways to address the backlash against long work hours through changes in education and corporate policies.

Srivastava adds, “People work hard all their lives: school, college, etc-- for what? 

To get a job that could feed their families well. 

When people don't get a decent job that pays a sensible salary. 

It leads to a lot of frustration. 

Solution:

- College fees should be commensurate with the jobs they provide. 

- Unpaid internships should be discouraged. 

• Tax breaks for firms which train college students as interns (as an incentive).”

Your salary should double (worst case) every 7 years.

(This is assuming you get a 10% increment each year)

But here is the situation of entry level IT salary jobs in India:-
2012: 2.45 Lakhs
2022: 3.55 Lakhs

The salary growth in entry level IT jobs hasn't even beaten… pic.twitter.com/Egt32nYxID

— Akshat Shrivastava (@Akshat_World) July 21, 2024

Social Media Reaction:

Online users are reacting positively to Shrivastava’s post.

One user wrote, “In last 10 years time annual pay of top bosses of IT companies has become 10 times but annual pay of freshers is still the same as it was 10 years ago.

Are freshers immune to #inflation or #CEOs has become ten times more efficient than they were 10 years ago.”

Another user commented, “Entry IT jobs in India are worse than manual labour. People end up with bad back and eyes earning peanuts for years. Especially in the it services biggies.”

A third user replied, “There is shortage of carpenter in my city. They charge anything between 1000-3000/day ( base on experience ). Considering they work 5 day a week with average 1500 per day , 4.5 can they might be earning. No collage degree needed , few month internship with some experience carpenter.”