Salary after PhD in Economics in India is 38000 to 44000 per month. After finishing PhD in Economics, one can apply for universities around India to get a handsome salary. After PhD in Economics, it is easy to apply for a job and get it. PhD is the highest ever academic qualification in economics of supply and demand. The reason is that there are not many of PhD scholars in Economics. So if you are one of those ones, you can get a good job with highest pay. Salary depends upon various factors again.
Here are the factors that affect salary after PhD in Economics in India:
Experience before PhD
If you have more years of experience by the time of completion of PhD, you will get a good salary package. If not, you will be treated as a fresher in the field which results in low salary offers.
If you have good publication history during or after PhD in Economics, salaries will be very good irrespective of experience that what I have mentioned above. Good publications include publishing in SCI, ESCI, Scopus etc. The paper published along these platforms have highest regard to fetch a handsome salary package.
If you have at least 2 patent in the subject ofEconomics, you will have a great salary after PhD. Nobody will lose PhD holders in Economics who have patent recognitions.
Types of institutions one applies
Salary after PhD in Economics also depends on the type of institutes that you apply for. For instance if you apply for colleges and schools or academies, the salaries are very low where as if you opt university level institutes like IIT, IIIT, NIT’s etc, the salaries are very good in par with academic standards. Never apply for a job in engineering colleges if they are not autonomous. You will face troubles even to get regular salaries after PhD in Economics.
PhD from top ranking institutes
Salary also depends upon the institutes where one completes PhD. If you complete PhD from private univesities in India, salaries are low because such PhD awards are treated low. If a PhD is from NIT’s or IIT’s or Government universities, the PhD holder will have high chance of getting a good salary. So conclusively, it is the institute where PhD is acquired that matters for a high salary package.
Full-time vs Part-time
Salary also depends on whether your PhD is done through full time mode or part time mode. Usually full timers are given preference while deciding salaries for PhD holders in Economics. But this many not not be true with some universities. It is just my opinion based on experience.
Competition affects PhD salary
The number of PhD applicants apply for a job also affects salary if the university that is recruting wants to save some money. So those who ask for more salary may not be given a position rather those who go by norms of the institute will be given a job position. So usually salary is bit lower.
Salary after PhD in Economics also depends upon the recommendation letter that one gets to get a job position. If any higher authority recommends a particular candidate even before the job interview, salary will never be a constraint for such PhD holders in Economics. So remember recommendation letter matters in India even in this 21st century.