Delhi paychecks still tiny compared to global cities like Geneva, Zurich, Deutsche Bank report show

Despite India’s booming economy, Delhi’s average net salaries remain a fraction of global paycheques, according to Deutsche Bank’s Mapping the World’s Prices 2025 report. Delhi’s average monthly net income clocks in at just $657, modestly up from $480 in 2020. But that’s mere pocket change compared to the world’s top cities. In Geneva, professionals take home a hefty $7,984 every month—the highest in the survey. Not far behind are Zurich ($7,788), San Francisco ($7,092), Luxembourg ($6,156), and Boston ($5,940). That means an average worker in Geneva earns over twelve times more than their counterpart in Delhi.

“These figures underscore the vast disparity in global income levels,” Deutsche Bank’s researchers observe. “While India is poised to become the world’s third-largest economy by the end of the decade, individual earning power in cities like Delhi remains dramatically lower compared to developed markets.”

Interestingly, Geneva, Zurich, San Francisco, and Luxembourg continue to dominate the top four spots in net salary rankings. However, Frankfurt has impressively surged into the fifth position, thanks to lower rents that leave more disposable income for residents—a stark contrast to high-rent cities. Paris (26th), Hong Kong (35th), Tokyo (36th), London (37th), and even New York (41st) struggle further down the list because sky-high housing costs eat into salaries, leaving workers with less breathing room despite hefty gross pay.

In comparison, Delhi’s cost of living is far lower, allowing residents to stretch their modest incomes further. Rent, groceries, transport, and entertainment remain significantly cheaper than in these global giants. Yet, even factoring in lower costs, the absolute gap remains daunting.

Monthly Net Salaries in 2025 (USD)

Lower living costs in Delhi cushion some of the disparity, making everyday life more affordable than in cities like Zurich or San Francisco. It’s one reason global firms continue to flock to India’s capital for talent and operations.

Interestingly, Delhi’s net salaries have grown at a respectable pace: a 37% increase over five years, outpacing some Western peers like New York and London in percentage growth. But in sheer dollars, the gap remains vast.

While employees in Geneva can splurge on luxury goods, world travel, and gourmet dining, workers in Delhi often focus on stretching their income to cover essentials and modest savings. It’s a contrast that highlights how global income inequality persists, even as emerging economies make strides on the world stage.

Deutsche Bank notes that India’s economic rise may eventually translate into higher individual incomes. But for now, Delhiites dreaming of Geneva-sized salaries may have to keep dreaming.