Average Salary in Goa 2023
How much money does a person working in Goa make?
LOW
7,500
INR AVERAGE
29,700
INR HIGH
132,000
INR
A person working in Goa typically earns around 29,700 INR per month. Salaries range from 7,500 INR (lowest average) to 132,000 INR (highest average, actual maximum salary is higher).
This is the average monthly salary including housing, transport, and other benefits. Salaries vary drastically between different careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.
Distribution of Salaries in Goa
The median, the maximum, the minimum, and the range
Salary Range
Salaries in Goa range from 7,500 INR per month (minimum salary) to 132,000 INR per month (maximum average salary, actual maximum is higher).
Median Salary
The median salary is 30,300 INR per month, which means that half (50%) of the population are earning less than 30,300 INR while the other half are earning more than 30,300 INR. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.
Percentiles
Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of the population are earning less than 17,000 INR while 75% of them are earning more than 17,000 INR. Also from the diagram, 75% of the population are earning less than 83,000 INR while 25% are earning more than 83,000 INR.
What is the difference between the median and the average salary?
Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary
Salary Comparison by Years of Experience
How does a person's salary progress over time?
The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher the wage.
Generally speaking, employees having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.
Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.
As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.
Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.
Salary Comparison By Education
How does the education level affect your salary?
It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income? We compared the salaries of professionals at the same level but with different college degrees levels across many jobs, below are our findings.
Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.
Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a cerificate or diploma.
Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.
Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.
Is a Master's degree or an MBA worth it? Should you pursue higher education?
A Master's degree program or any post-graduate program in India costs anywhere from 160,000 Indian Rupee(s) to 479,000 Indian Rupee(s) and lasts approximately two years. That is quite an investment.
You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.
Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
The decision really depends on your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Salary Comparison By Gender
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in India earn 9% more than their female counterparts on avergae across all sectors.
| Male | 33,100 INR | |
| Female | -8% | 30,300 INR |
Average Annual Salary Increment Percentage in India
How much are annual salary increments in India? How often do employees get salary raises?
India
Employees in India are likely to observe a salary increase of approximately 9% every 16 months.
The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.
How to calculate the salary increment percentage?
The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency
Annual Increment Rate By Industry 2022
| Banking | 1% | |
| Energy | 2% | |
| Information Technology | 3% | |
| Healthcare | 4% | |
| Travel | 5% | |
| Construction | 6% | |
| Education | 7% |
Listed above are the average annual increase rates for each industry in India for the year 2022. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.
Average Salary Increase Rate by Experience Level
| Junoir Level | 3% - 5% | |
| Mid-Career | 6% - 9% | |
| Senior Level | 10% - 15% | |
| Top Management | 15% - 20% |
The difference in increment rates is somehow justified because employers put more effort to retain more experienced staff since they are harder to acquire than less experienced ones.
Worldwide Salary Raises: All Countries and All Jobs
Bonus and Incentive Rates in India
How much and how often are bonuses being awarded?
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51% of surveyed staff in India reported that they haven't received any bonuses or incentives in the previous year while 49% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 4% to 5% of their annual salary.
| Received Bonus | 49% | |
| No Bonus | 51% |
Types of Bonuses Considered
Individual Performance-Based BonusesThe most standard form of bonus where the employee is awarded based on their exceptional performance.
Company Performance BonusesOccasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.
Goal-Based BonusesGranted upon achieving an important goal or milestone.
Holiday / End of Year BonusesThese types of bonuses are given without a reason and usually resemble an appreciation token.
Bonuses Are Not Commissions!
People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.
Bonus Rates Comparison by Career Field
| Finance | High | |
| Architecture | High | |
| Sales | High | |
| Business Development | High | |
| Marketing / Advertising | High | |
| Information Technology | Moderate | |
| Healthcare | Moderate | |
| Insurance | Moderate | |
| Customer Service | Moderate | |
| Human Resources | Moderate | |
| Construction | Low | |
| Transport | Low | |
| Hospitality | Low |
What makes a position worthy of good bonuses and a high salary?
The main two types of jobs | |
| Revenue Generators | Supporting Cast |
Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business. | Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations. |
Example: | Example: |
Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.
Bonus Comparison by Seniority Level
Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.
Salaries for popular jobs
| Job Title | Average Salary |
| Accounting and Finance | |
| Accountant | 19,800 INR |
| Accounting Assistant | 16,100 INR |
| Accounting Manager | 44,100 INR |
| Bookkeeper | 13,900 INR |
| Chartered Accountant | 25,600 INR |
| Corporate Treasurer | 38,800 INR |
| Financial Analyst | 37,700 INR |
| Financial Manager | 61,300 INR |
| Internal Auditor | 28,700 INR |
Administration / Reception / Secretarial | |
| Administrative Assistant | 15,500 INR |
| Office Manager | 26,900 INR |
| Receptionist | 11,300 INR |
| Secretary | 13,500 INR |
Advertising / Grapic Design / Events | |
| Art Director | 29,800 INR |
| Creative Director | 29,600 INR |
| Graphic Designer | 19,000 INR |
| Photographer | 16,500 INR |
Airlines / Aviation / Aerospace / Defense | |
| Aerospace Engineer | 36,100 INR |
| Air Traffic Controller | 32,400 INR |
| Flight Attendant | 20,500 INR |
| Pilot | 51,700 INR |
Architecture | |
| Architect | 34,200 INR |
| CAD Drafter | 15,600 INR |
Automotive | |
| Mechanic | 11,400 INR |
| Service Advisor | 20,700 INR |
Banking | |
| Bank Branch Manager | 54,700 INR |
| Teller | 11,600 INR |
Bilingual | |
| Teacher | 23,000 INR |
| Translator | 25,600 INR |
Business Planning | |
| Business Analyst | 35,200 INR |
| Business Development Manager | 47,100 INR |
| Project Manager | 34,800 INR |
Care Giving and Child Care | |
| Nanny | 11,800 INR |
| Nursery Teacher | 11,500 INR |
Construction / Building / Installation | |
| Civil Engineer | 27,200 INR |
| Construction Project Manager | 48,400 INR |
| Health and Safety Officer | 13,800 INR |
Customer Service and Call Center | |
| Call Center Representative | 10,600 INR |
| Customer Service Manager | 41,300 INR |
| Customer Service Representative | 10,800 INR |
Engineering | |
| Electrical Engineer | 29,700 INR |
| Engineer | 28,100 INR |
| Mechanical Engineer | 29,200 INR |
Executive and Management | |
| Chief Executive Officer | 68,600 INR |
| Chief Financial Officer | 61,500 INR |
| General Manager | 53,600 INR |
Food / Hospitality / Tourism / Catering | |
| Chef | 19,000 INR |
| Executive Chef | 21,700 INR |
| Hotel Manager | 51,300 INR |
| Travel Agent | 19,100 INR |
| Waiter / Waitress | 9,010 INR |
Health and Medical | |
| Dentist | 67,500 INR |
| Dietitian | 58,200 INR |
| Laboratory Technician | 23,200 INR |
| Nurse | 22,700 INR |
Human Resources | |
| Human Resources Manager | 44,100 INR |
| Human Resources Officer | 17,100 INR |
Information Technology | |
| Computer Technician | 22,800 INR |
| Database Administrator | 29,200 INR |
| Developer / Programmer | 30,000 INR |
| Information Technology Manager | 48,300 INR |
| Network Engineer | 26,600 INR |
Law Enforcement / Security / Fire | |
| Police Officer | 18,100 INR |
Legal | |
| Attorney | 57,600 INR |
| Legal Assistant | 16,200 INR |
Media / Broadcasting / Arts / Entertainment | |
| Journalist | 33,600 INR |
Pharmaceutical and Biotechnology | |
| Biomedical Engineer | 25,100 INR |
| Pharmacist | 36,200 INR |
Sales Retail and Wholesale | |
| Cashier | 11,700 INR |
| Sales Manager | 49,000 INR |
| Sales Representative | 19,300 INR |
Teaching / Education | |
| Elementary School Teacher | 19,500 INR |
| Secondary School Teacher | 23,000 INR |
Average Hourly Wage in Goa
170 INR per hourThe average hourly wage (pay per hour) in Goa is 170 INR. This means that the average person in Goa earns approximately 170 INR for every worked hour.
The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.
Goa VS India
Government vs Private Sector Salary Comparison
Where can you get paid more, working for a private company or for the government? Public sector employees in India earn 5% more than their private sector counterparts on average across all sectors.
| Private Sector | 31,000 INR | |
| Public Sector | +5% | 32,700 INR |
