What do you think is the programming background required for a computer science engineer to become successful in life? Can a person who is an average programmer have a dream package and a satisfactory job ever?

There are many skill sets other than programming which are very useful and If you have enthusiasm in these fields then you don't need to be a topcoder 1. Data analyst and scientist 2. System and network security 3. Industrial research 4. DBAs These fields can give you handsome roles but you need to have some years of experience after which you can be appreciated by Industry players

Here is my take on this. Would an average coder have a dream package in a coding job? It depends what package you dream of. If the question is whether you can have a dream package and a satisfactory life? The answer is yes. It may not make use of your coding skills alone. You need to look beyond your comfort zone, make wise decisions, think positively and have a creative mind.