“Salaries are stagnant at ₹10.5 lakh.”
That’s not just a stat—it’s a wake-up call from Saurabh Mukherjea, founder of Marcellus Investment Managers and one of India’s most trusted voices in finance.
He warns that India’s middle class is losing ground, financially and socially.
- “5–10% of it is already in a debt trap,” he said.
If you feel like your salary can’t keep up with your life—you’re not wrong.
Inflation’s up, job growth’s down, and lifestyle pressure is real.
Let’s break it all down—and figure out what you can actually do.
Middle Class Crisis: Saurabh Mukherjea’s Red Alert
| Issue | Impact | Comeback Move |
|---|---|---|
| Stagnant Salaries | ₹10.5L avg salary since 2022 | Upskill in finance, AI, digital tools |
| Rising Debt | 5–10% families in debt spiral | Budget tighter, kill high-interest EMIs |
| Middle Layer Shrinking | 30% white-collar jobs may automate (McKinsey) | Pivot to creative/strategic roles |
| Job Security Declining | Hiring freezes, layoffs, skill gaps | Build LinkedIn brand + side income |
| Comeback Opportunity | Tech + internet = monetise your skills | Learn → Build → Monetise |
What Saurabh Mukherjea Is Really Warning Us About
1. Salaries Flatlining While Expenses Rise
CMIE shows that urban incomes are stagnant, while inflation is steadily eating into every rupee.
You’re not richer—you’re just surviving harder.
2. The Debt Spiral Is Growing
Mukherjea highlighted that 1 in 10 middle-class families are using loans and credit cards just to stay afloat.
“Jitni income badhti hai, usse zyada kharche badh jaate hain.”
3. Middle Management Is Disappearing
Automation and AI are replacing the “in-between” layer in companies. McKinsey expects 30% of jobs in structured sectors may be automated by 2030.
4. Job Security Is Overrated Now
Hiring is slow. Appraisals are lower. Layoffs are more common than ever.
Corporates are prioritizing lean and agile over loyalty.
5. But Middle Class Has One Big Advantage: Adaptability
You’ve got internet, education, tools, and access. You just need to act.
“Skill security is the future.”
Let’s explore how you can bounce back:
1. Upskill in Tech, Finance & Digital Tools
Use platforms like , YouTube, and Coursera.
Focus on high-ROI skills:
Here are the direct, official links to the free learning platforms mentioned, so you can easily embed or use them:
🔗 Top Free Learning Platforms
- Coursera
https://www.coursera.org
→ Offers free courses from Google, Stanford, Yale, IITs (audit mode). - edX
https://www.edx.org
→ Learn from MIT, Harvard, and more. Many courses have free versions. - Khan Academy
https://www.khanacademy.org
→ Free forever. Great for finance, economics, math, and fundamentals. - Harvard Free Courses (via Harvard Extension)
https://pll.harvard.edu/catalog/free
→ 100% free online courses from Harvard University. - YouTube (educational creators)
https://www.youtube.com
→ Search for channels like:- Ali Abdaal (productivity, career)
- Abhi and Niyu (insightful India-focused content)
- WSJ & CNBC (global finance breakdowns)
- FutureLearn
https://www.futurelearn.com
→ UK-based platform with free courses and optional paid certificates..
Let me know if you’d like these turned into a visual directory, a resources PDF, or embedded with icons for better UX!
- Automation tools
- Excel + financial literacy
- Content, code, and communication
2. Build a Magnetic Personal Brand
- LinkedIn > Resume
- Share your learnings, insights, and wins
- Get noticed for who you are—not just what you’ve done
3. Start Your Side Hustle Now
Freelancing, teaching, content creation—start something.
Your skills are monetisable; you just need to package them right.
4. Plug the Lifestyle Leaks
Zomato binge + Insta impulse buys + EMI = stress
Use budgeting apps (like Cube or Walnut) to track and fix the leaks.
5. Act Like an Entrepreneur, Even If You’re Not One
Think beyond salary. Build systems, assets, and content.
Learn how to sell your skill—not just trade time for money.
Mini Checklist: Is Your Middle-Class Comeback on Track?
- I’m learning new skills weekly
- My LinkedIn is active and adds value
- I earn from at least 2 sources
- I’ve reduced debt or EMIs
- I’ve built a personal monetisable project
Score:
4–5: On fire
2–3: Need direction
0–1: Start today—it’s still early
Final Word: Saurabh Mukherjea Is Right—Crisis Is Real. Comeback Is Optional.
The old middle-class dream—secure job, yearly hike, stable growth—is dead.
But a new dream is possible: one built on skill, ownership, and evolution.
Jo evolve karega, wahi jeetega.
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