Marcellus Investment CEO Saurabh Mukherjea (File photo from Marcellus website)

White-collar employment, long considered the backbone of India’s growing middle class, is undergoing a significant decline, according to prominent investment strategist Saurabh Mukherjea. The founder and chief investment officer of Marcellus Investment Managers warns that stable, salaried jobs are no longer a sustainable model for India’s educated workforce.
In his recent podcast titled “Beyond the Paycheck: India’s Entrepreneurial Rebirth,” Mukherjea stated that India is witnessing the gradual erosion of traditional employment, driven by widespread automation, artificial intelligence, and evolving economic structures.
“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,” he said according to an ET report.
Mukherjea’s comments implied a growing concern within sectors like information technology, media, and finance—industries that have traditionally absorbed large numbers of white-collar professionals. He cited developments such as Google’s admission that one-third of its coding is now done by AI, signaling a broader trend likely to impact Indian firms as well.
The shift poses significant implications for India’s employment landscape, particularly for those who have pursued higher education with the expectation of long-term corporate careers. Mukherjea argues that the old model, where individuals spent decades with a single employer, is no longer viable.
Instead, he pointed to entrepreneurship as the emerging alternative. Citing the Indian government’s JAM trinity—Jan Dhan bank accounts, Aadhaar identification, and mobile connectivity—Mukherjea believes the digital infrastructure is in place to support a new wave of self-employment and innovation, particularly among low- and middle-income citizens.
“The jobs won’t be there,” Mukherjea said, urging Indian families to reconsider long-held beliefs about job security and success. “Families like yours and mine must stop preparing kids to be job-seekers.”
As automation accelerates and AI becomes more deeply embedded in white-collar workflows, experts like Mukherjea say India must prepare for a post-employment era—one where economic mobility will depend less on corporate paychecks and more on entrepreneurial initiative.