Razorpay engineering compensation in India is a mix of base pay and ESOPs (stock options), with the exact split varying more by level and negotiation than at larger MNCs — these are approximate, publicly-reported ranges, not official figures.
Engineering compensation (India, 2026, approximate)
| SDE-1 / Backend Engineer (0–2 yrs) | ≈ ₹12–20 LPA |
| SDE-2 (2–5 yrs) | ≈ ₹20–35 LPA |
| Senior / Lead Software Engineer (5+ yrs) | ≈ ₹35–55 LPA+ |
| Components | Base salary + variable pay + ESOPs (vesting typically over 4 years) |
ESOP value is inherently uncertain (it depends on a future liquidity event), so weigh it as upside rather than guaranteed compensation — cross-check current self-reported numbers on Glassdoor or Levels.fyi before negotiating.
Negotiate on total compensation, not just base pay — ask specifically how the ESOP grant is structured and vests before weighing an offer against a fixed-salary alternative.