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My advise will be work in Organization where Mainframe matters most and still used in critical processing. Captive Banks like HSBC , Duesche , Barclay's, Northern Trust, Wells Fargo , JP Morgan, BMC, DXC will easily give you around 35-40 LPA just for Mainframe knowledge.
Around 11-14 YOE
Only future holds the answer if mainframe folks would on average get such high package or not.. If it remains a niche skill then soon you could see that number... Few folks do reach higher pay here and there but overall mainframe salaries are suppressed heavily.
Earning 31 fixed. I deploy my work on the mainframe only. But I don't work on COBOL any more.
You can try and get a Mainframe modernization or migration project in your current organisation. Not just RFPs but proper hands on work, like Cobol to Java migration or application rehosting to cloud using MicroFocus. You can work on that project for a year and start preparing for interviews in the meantime by changing your profile to mainframe modernization only for mainframe modernization openings. You will get a significant pay bump if you manage to crack an offer.
One of my ex-colleagues (10 years experience) was doing Mainframe to AIX/MicroFocus rehosting work for the last year, and also worked on a few SpringBoot programs for the same project, got some shell scripting experience as well. He gave a few interviews and managed to crack NTT Data (mainframe rehosting product consultant) and Infosys (Tech Architect for mainframe modernization) for 36 lpa and 34.5 lpa respectively.