I also hire directly for our own office in Mumbai from time-to-time, so I know that market rates are.
Just look at any jobs board - even for experienced devs, its rare to find such high paying jobs, e.g.
> SRM University sets new placement record of 6064 on Day 1
> The highest offer was from Wipro 1641, followed by TCS 1611, Cognizant 1506 and Infosys 1306.
You can imagine the quality of interview when they have interviewed at least 1500 students on a single day.
So the average salary is 8.98 lakh. Unlike what you might like to believe there are many non-IT people working in IT, specially in places like IBM. So their salary will be even lower than 8.98 lakhs.
Most freshers get near to Associate Systems Engineer. The salary range is between 3.7 lakhs to 8.65 lakhs. This is farcry from what you believe it is. Yes, there are colleges whose salaries are pushed to the limit thanks to the startups but majority are not as well of as you might think.
Yeah, I concede. For some reason, I had the belief that IBM is one of the better paying company in India, but it pays on the level of inferior consultancies.