India’s Middle-Class Job Model Is Fading, Says Expert

India may be witnessing the slow decline of its traditional middle-class lifestyle, according to Saurabh Mukherjea, founder of Marcellus Investment Managers. In a recent podcast titled Beyond the Paycheck: India’s Entrepreneurial Rebirth, he explained how the concept of salaried employment is steadily losing relevance in today’s fast-evolving economy.

“I think the defining flavour of this decade will be effectively the death of salaried employment, the gradual demise of salary employment as a worthwhile avenue for educated, determined, hardworking people,” Mr. Mukherjea said.

He pointed out that the old system, where people stayed in one job for decades, no longer fits into the changing economy. The stable job model that once built India’s middle class is now under pressure, and it's becoming harder for professionals to rely solely on full-time jobs for long-term security.

A major reason for this shift is technology. Mr.Mukherjea highlighted that artificial intelligence and automation are beginning to take over many white-collar tasks. “Much of what was supposed to be done by white-collar workers is now done by AI. Google says a third of its coding is already done by AI. The same is coming for Indian IT, media, and finance,” he noted.

With AI and other technologies making mid-level roles less essential, many professionals face a critical turning point. This transformation demands adaptability, resilience, and a shift in thinking.

Embracing Entrepreneurship

Despite these changes, Mr. Mukherjea believes there is a silver lining. He praised the Indian government’s efforts, especially the JAM Trinity- Jandhan, Aadhaar, and Mobile—for creating a digital foundation that supports the rise of entrepreneurs. These tools provide access to identity, banking, and information for millions, offering a platform for innovation and growth.

“If applied with the same intellect and grit we brought to corporate careers, entrepreneurship can be the new engine of prosperity,” he stated.

He emphasized the need for Indian society to change its mindset. For too long, people have linked success only to salaries and job titles. According to Mukherjea, this needs to evolve.

“We're a money-obsessed society. We define success by paychecks. That has to change,” he said. “We should be solving for happiness and impact, not just monthly income.”

His final advice was clear: families should rethink how they prepare children for the future. “Families like yours and mine must stop preparing kids to be job-seekers. The jobs won't be there.”