Average Retail Store Manager Salary in India for 2024

In this article, we will look at the average Retail Store Manager salary for 2024 in India and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Indian rupee. To keep things simple, we are using the INR currency code instead of the currency symbol โ‚น.

How Much Does a Retail Store Manager Make in India?

A Retail Store Manager working in India will typically earn around 478,000 INR per year, and this can range from the lowest average salary of about 243,000 INR to the highest average salary of 735,200 INR.

Average Annual Salary
478,000 INR
Average Monthly Salary
39,833 INR

Lowest Annual Salary
243,000 INR
Lowest Monthly Salary
20,250 INR

Highest Annual Salary
735,200 INR
Highest Monthly Salary
61,266 INR

These are average salaries for a Retail Store Manager in India and include benefits such as housing and transport. It's also possible for a Retail Store Manager to earn more or less than the average salaries shown above.

Retail Store Manager salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Retail Store Manager Salaries in India

So we've looked at the average salaries a Retail Store Manager will earn in India. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Retail Store Manager can earn between 243,000 INR and 735,200 INR on average in India. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for a Retail Store Manager in India is 467,700 INR. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 467,700 INR, and 50% of the population earn more than 467,700 INR.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Retail Store Manager salary in India, 25% of the population are earning less than 320,500 INR while 75% of the population earn more than 320,500 INR.

75% of the population earn less than 592,600 INR, and 25% of the population earn more than 592,600 INR.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Retail Store Manager Salary by Experience Level in India

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average retail store manager salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. A Retail Store Manager in India that has less than two years of experience can expect to earn somewhere in the region of 275,200 INR.
  • 2 - 5 Years Experience. With two to five years of experience the average Retail Store Manager salary would increase to 357,700 INR.
  • 5 - 10 Years Experience. From five to ten years of experience as a Retail Store Manager, the average salary would be 500,100 INR.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 600,000 INR.
  • 15 - 20 Years Experience. A Retail Store Manager with 15 to 20 years of experience can earn an average of 653,200 INR.
  • 20+ Years Experience. For a Retail Store Manager with more than 20 years, the expected average salary increases to 706,200 INR.

Average Salary by Experience Chart

0-2 Years
275,200 INR
2-5 Years +31%
357,700 INR
5-10 Years +40%
500,100 INR
10-15 Years +20%
600,000 INR
15-20 Years +9%
653,200 INR
20+ Years +8%
706,200 INR

Retail Store Manager Salary by Education Level in India

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for a Retail Store Manager in India based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • High School. A Retail Store Manager in India with a high school education can earn an average salary of 314,500 INR.

  • Certificate or Diploma. A Retail Store Manager in India with a certificate or diploma education can earn an average salary of 460,500 INR.

  • Bachelor's Degree. A Retail Store Manager in India with a bachelor's degree education can earn an average salary of 707,700 INR.

Average Salary by Education Chart

High School
314,500 INR
Certificate or Diploma +47%
460,500 INR
Bachelor's Degree +53%
707,700 INR

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in India is around 160,000 to 479,000 INR and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Retail Store Manager Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In India, a male retail store manager will earn an average of 519,300 INR, while a female retail store manager will earn around 442,300 INR.

This means that a male retail store manager earns approximately 17% more than a female retail store manager for performing the same job.

Average Salary by Gender Chart in India

Male
519,300 INR
Female -17%
442,300 INR

Retail Store Manager Average Pay Raise in India

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for a Retail Store Manager in India is around 12% every 16 months.

The national average pay raise across all professions and industries in India is around 9% every 16 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 12 ÷ 16 ) × 12  = 9%

What this means is that a Retail Store Manager in India can expect to receive an average pay raise of around 9% every 12 months.

Annual Pay Raise by Industry in India for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in India.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
1%
Energy
2%
Information Technology
3%
Healthcare
4%
Travel
5%
Construction
6%
Education
7%

Retail Store Manager Bonus and Incentive Rates in India

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

A Retail Store Manager is a high bonus based job, with 80% of employees reporting at least one bonus in the last 12 months.

20% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 6% to 8%.

Received Bonus
80%
No Bonus
20%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in India earn approximately 6% more than private sector employees in the same role.

Public Sector
392,300 INR
Private Sector -6%
371,100 INR

Salaries for Jobs Similar to a Retail Store Manager

In the table below, we have salary information for jobs that are similar to a Retail Store Manager in India.

Job Title Category Salary
Account Manager Sales Retail and Wholesale 428,400 INR
Account Officer Sales Retail and Wholesale 233,600 INR
Area Manager Sales Retail and Wholesale 467,100 INR
Area Sales Director Sales Retail and Wholesale 768,900 INR
Area Sales Manager Sales Retail and Wholesale 628,000 INR
Assisstant Store Supervisor Sales Retail and Wholesale 263,200 INR
Assistant Department Manager Sales Retail and Wholesale 301,600 INR
Assistant Retail Store Manager Sales Retail and Wholesale 345,700 INR
Branch Manager Sales Retail and Wholesale 475,700 INR
Branch Supervisor Sales Retail and Wholesale 388,100 INR
Cashier Sales Retail and Wholesale 143,200 INR
Cashier Manager Sales Retail and Wholesale 322,600 INR
Commercial Sales Manager Sales Retail and Wholesale 615,000 INR
Corporate Sales Manager Sales Retail and Wholesale 539,700 INR
Depot Manager Sales Retail and Wholesale 431,300 INR
Depot Supervisor Sales Retail and Wholesale 397,900 INR
Deputy Sales Manager Sales Retail and Wholesale 428,400 INR
Director of Sales Sales Retail and Wholesale 743,300 INR
Distribution Director Sales Retail and Wholesale 514,300 INR
District Leader Sales Retail and Wholesale 381,800 INR
District Manager Sales Retail and Wholesale 471,700 INR
District Sales Manager Sales Retail and Wholesale 471,700 INR
External Sales Account Manager Sales Retail and Wholesale 437,300 INR
Field Sales Representative Sales Retail and Wholesale 301,700 INR
Furniture Sales Associate Sales Retail and Wholesale 209,500 INR
Global Wholesale Manager Sales Retail and Wholesale 825,900 INR
Head Cashier Sales Retail and Wholesale 296,000 INR
Head of Direct Sales Sales Retail and Wholesale 568,500 INR
Head of Retail Sales Retail and Wholesale 558,300 INR
Head Teller Sales Retail and Wholesale 296,000 INR
Inside Sales Sales Retail and Wholesale 233,600 INR
Inside Sales Account Manager Sales Retail and Wholesale 369,300 INR
Inside Sales Engineer Sales Retail and Wholesale 275,200 INR
Inside Sales Executive Sales Retail and Wholesale 403,100 INR
Inside Sales Representative Sales Retail and Wholesale 258,400 INR
Internal Sales Manager Sales Retail and Wholesale 450,300 INR
Inventory Manager Sales Retail and Wholesale 428,400 INR
Key Account Manager Sales Retail and Wholesale 444,300 INR
Medical Device Sales Sales Retail and Wholesale 345,700 INR
Medical Device Sales Representative Sales Retail and Wholesale 345,700 INR
Merchandiser Sales Retail and Wholesale 288,700 INR
National Account Manager Sales Retail and Wholesale 597,800 INR
National Customer Solution Specialist Sales Retail and Wholesale 504,400 INR
National Sales Manager Sales Retail and Wholesale 798,900 INR
Outside Sales Representative Sales Retail and Wholesale 301,700 INR
Parts Salesperson Sales Retail and Wholesale 246,500 INR
Project Development Manager Sales Retail and Wholesale 489,500 INR
Project Manager Sales Retail and Wholesale 489,500 INR
Project Sales Executive Sales Retail and Wholesale 485,300 INR
Purchasing and Sales Executive Sales Retail and Wholesale 684,900 INR
Quotation Engineer Sales Retail and Wholesale 245,300 INR
Regional Sales Director Sales Retail and Wholesale 798,900 INR
Regional Sales Manager Sales Retail and Wholesale 798,900 INR
Relationship Manager Sales Retail and Wholesale 525,700 INR
Retail Merchandiser Sales Retail and Wholesale 185,100 INR
Retail Operations Manager Sales Retail and Wholesale 460,500 INR
Retail Sales Associate Sales Retail and Wholesale 345,700 INR
Retail Sales Representative Sales Retail and Wholesale 279,400 INR
Retail Salesperson Sales Retail and Wholesale 246,500 INR
Retail Store Sales Person Sales Retail and Wholesale 246,500 INR
Revenue Manager Sales Retail and Wholesale 450,300 INR
Sales Account Manager Sales Retail and Wholesale 524,700 INR
Sales Admin Executive Sales Retail and Wholesale 597,800 INR
Sales Administration Manager Sales Retail and Wholesale 568,500 INR
Sales Analyst Sales Retail and Wholesale 447,300 INR
Sales Assistant Sales Retail and Wholesale 183,600 INR
Sales Associate Sales Retail and Wholesale 240,500 INR
Sales Consultant Sales Retail and Wholesale 353,600 INR
Sales Coordinator Sales Retail and Wholesale 263,100 INR
Sales Development Representative Sales Retail and Wholesale 309,800 INR
Sales Director Sales Retail and Wholesale 743,300 INR
Sales Engineer Sales Retail and Wholesale 275,200 INR
Sales Executive Sales Retail and Wholesale 485,300 INR
Sales Manager Sales Retail and Wholesale 656,800 INR
Sales Officer Sales Retail and Wholesale 258,400 INR
Sales Planner Sales Retail and Wholesale 394,300 INR
Sales Planning Analyst Sales Retail and Wholesale 414,000 INR
Sales Representative Sales Retail and Wholesale 246,500 INR
Sales Service Associate Sales Retail and Wholesale 233,600 INR
Sales Specialist Sales Retail and Wholesale 369,300 INR
Sales Supervisor Sales Retail and Wholesale 394,300 INR
Sales Support Sales Retail and Wholesale 183,600 INR
Sales Support Manager Sales Retail and Wholesale 403,100 INR
Sales Team Leader Sales Retail and Wholesale 397,900 INR
Sales Trainer Sales Retail and Wholesale 444,300 INR
Securities Sales Agent Sales Retail and Wholesale 419,400 INR
Shipper / Receiver Sales Retail and Wholesale 185,100 INR
Shop Manager Sales Retail and Wholesale 428,400 INR
Store Development Administrator Sales Retail and Wholesale 309,800 INR
Store Manager Sales Retail and Wholesale 478,000 INR
Territory Sales Manager Sales Retail and Wholesale 628,000 INR
Territory Sales Representative Sales Retail and Wholesale 351,900 INR
Trade Marketing Officer Sales Retail and Wholesale 420,800 INR
Treasury Officer Sales Retail and Wholesale 388,100 INR
Vice President Sales Sales Retail and Wholesale 597,800 INR
Visual Merchandiser Sales Retail and Wholesale 221,500 INR

Salary Comparison by City

If you want to compare salaries with different cities in India, you can use the links below to explore the data for each specific city we have researched.

City Average Salary
agra 457,300 INR
Ahmadabad 507,300 INR
Bangalore 539,800 INR
Bhopal 472,100 INR
Chennai 551,200 INR
Coimbatore 472,100 INR
Delhi 547,800 INR
Ghaziabad 467,100 INR
Hyderabad 528,500 INR
Indore 493,000 INR
Jaipur 524,700 INR
Kanpur 492,700 INR
Kolkata 535,800 INR
Lucknow 483,800 INR
Ludhiana 442,200 INR
Madurai 431,100 INR
Mumbai 525,700 INR
Nagpur 489,600 INR
Patna 464,400 INR
Pimpri-Chinchwad 466,300 INR
Pune 524,700 INR
Surat 528,600 INR
Vadodara 445,100 INR
Visakhapatnam 455,400 INR

Salary Comparison by State

The table below includes links to the average salary for each state in India.

City Average Salary
Andaman & Nicobar Islands 413,900 INR
Andhra Pradesh 518,300 INR
Arunachal Pradesh 466,900 INR
Assam 518,900 INR
Bihar 563,000 INR
Chandigarh 450,300 INR
Chhatisgarh 514,300 INR
Dadra & Nagar Haveli 415,900 INR
Daman & Diu 392,300 INR
Delhi 504,400 INR
Goa 445,100 INR
Gujarat 520,900 INR
Haryana 514,300 INR
Himachal Pradesh 478,000 INR
Jammu & Kashmir 472,100 INR
Jharkhand 551,200 INR
Karnataka 553,400 INR
Kerala 514,300 INR
Lakshadweep 386,400 INR
Madhya Pradesh 574,200 INR
Maharashtra 566,900 INR
Manipur 451,000 INR
Meghalaya 476,600 INR
Mizoram 436,200 INR
Nagaland 444,300 INR
Orissa 555,800 INR
Pondicherry 448,500 INR
Punjab 504,400 INR
Rajasthan 533,100 INR
Sikkim 437,300 INR
Tamil Nadu 548,500 INR
Tripura 455,400 INR
Uttar Pradesh 583,000 INR
Uttaranchal 499,300 INR
West Bengal 552,400 INR

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