How will I reach 30 LPA from a starting package of 5 LPA?

This answer is given by Prathamesh Singh

Stay in a company for 2–3 years and switch.

Below is sample breakdown: it maybe 11 or 12 years till you reach a package of 30 lakhs.

Initial pkg: 5 lakhs

1st Hike 7%: 5.35 lakhs

2nd Hike 6%: 5.67 lakhs

Switch with hike 50%: 8.5 lakhs

1st Hike 6%: 9 lakhs

2nd Hike 7%: 9.63 lakhs

Switch with hike 50%: 14.45 lakhs

1st Hike 10%: 15.9 lakhs (product based)

2nd Hike 12%: 17.8 lakhs (product based)

Switch with hike 40%: 24.9 lakhs

1st Hike 7%: 26.65 lakhs

2nd Hike 7%: 28.5 lakhs

3rd Hike 6%: 30.2 lakhs

Edit: Decreased Hike % from 10 to lesser value as per comments and updated the calculations. Didn't make much of a difference as the major advances are seen while switching.

Another Answer 

Answer by Ritesh Sinha 

I can walk through my journey so far to make you understand.

I joined TCS with 3.26 LPA

I was there for 3.5 years and got average hike, my CTC was 4.5 LPA at end of 3.5 years.

I joined CTS with CTC 7.5 LPA.

After 9 Month I joined Accenture and my CTC became 10.63 LPA. So in 4.3 years I had 10.64 LPA CTC. Within 2 years in accenture, my CTC become 12.2 LPA and my years of experience is 6.2 years.

I switched to Infosys and CTC is 16 LPA. This is my current CTC and current Job. My experience is 6.2 years.

So I am hoping to touch 30LPA in next 4 years with 2 more switch.