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Financial Advisor Salary in India in 2024 [Average to Highest ]

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25th Oct, 2022
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Financial Advisor Salary in India in 2024 [Average to Highest ]

Do you have a knack for finance and like to help out others? If so, then becoming a financial advisor might be the perfect choice for you.

However, before you pick a career, you might wonder if it’s worth pursuing it. That’s why we have prepared this article highlighting a Financial Advisor’s salary in India. 

This article will discuss the average financial advisor salary in India, what factors affect it and how you can get the top pay in this field to help you understand the worth and scope of finance careers

What is the Average Financial Advisor Salary in India?

The average financial advisor salary in India is INR 3.72 lakh per annum. Pay in this field ranges from INR 1.79 lakh per year and goes up to INR 20 lakh per year depending on several factors, including your skills and experience. 

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You can expect bonuses in this role from INR 10,000 to INR 2 lakhs, while shared profits range from INR 1,000 to INR 4.64 lakh. Similarly, commissions for financial advisors range from INR 2,000 to INR 6 lakh. 

The scope for financial advisory services is very bright in India. That’s because the primary clientele of financial advisors is ultra-high net worth individuals (UHNWIs) whose population is expected to grow 63% over the coming five years. Even at present, India houses nearly 6,900 ultra-high net worth individuals and 113 billionaires. The number of billionaires in India is expected to increase by 43% and rise to 162 by 2025. 

India fares better than its Asian peers, whose average is 38% for this period. The global average for churning out billionaires would be 24% for this duration, which is significantly lower than India’s expected growth rate.

As the number of wealthy individuals increases, the demand for skilled and competent financial advisors will rise accordingly. People would require their services to help them make smarter financial decisions and achieve their goals. 

In the past few years, India has also seen the rise of family offices. They have transformed the wealth management industry of this country entirely and have increased the already steep entry barriers for this field. Apart from wealthy individuals, the general populace would also want to make better financial decisions. Many people hire financial advisors to help them achieve specific financial goals, such as saving up retirement funds or having funds for a child’s education.

While financial literacy is low in India, it is expected to grow as information becomes more accessible and people become aware of the different financial instruments available to them.

Due to all of these reasons, the average financial advisor salary in India is significantly high and will increase over time. 

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What Does a Financial Advisor Do?

A financial advisor usually works with a financial organisation such as insurance companies, mutual fund companies or banks and provides services to companies or individual clients. As a financial advisor, you would use your expertise to help your clients achieve their financial goals by selecting the correct investments (real estate, bonds, money market, stocks, ETFs, etc.). 

Financial advisors also explain the tax laws related to investment so the client can make an informed decision. They also assist their clients with choosing the right insurance. 

As a financial advisor, you’d help your clients plan for both short-term and long-term goals, depending on their requirements and aspirations. 

For example, you might help them with estate planning, where you help your clients decide what would happen to their assets after they pass away. Similarly, you might help your clients budget their income and expenses to reach a specific financial goal, such as buying a new home or saving up for a kid’s college funds.

Some other areas you might help your clients with are:

  • Investments – where your clients invest their money.
  • Tax planning – how taxes will affect your client’s funds and what they can do about it. 
  • Inheritance – if a client expects to receive an inheritance, what they should know and how should they plan their finances. 
  • Debt management – how to get out of debt as efficiently as possible. 

Due to the unique nature of their role, financial advisors must be experts in different avenues of finance. They should be well-acquainted with the government’s rules and regulations while staying up to date with the financial industry’s latest news.

You might have to travel a little in this role to visit clients and institutions. The position might also require you to train junior financial advisors.

Also Check, Job-ready Program in Financial Modelling & Analysis from upGrad.

Factors Affecting the Average Financial Advisor Salary in India

You must have noticed that there’s a vast spectrum of financial advisor salary in India. That is so because your pay in this field depends on multiple factors. If you know how these factors affect your salary, you can plan your career more effectively and bag the highest pay quickly.

Primarily, your pay as a financial advisor depends on the following four factors:

  • Your location
  • Your skills
  • Your experience
  • Your employer

The following points will throw light on exactly how each one of these factors affects your financial advisor salary in India: 


One of the most important factors determining your financial advisor salary in India is the city you work in. Different cities offer different salaries to financial advisors because the cost of living varies from city to city. Moreover, how many clients your organisation has will also depend on the city.

Due to these reasons, pay for financial advisors varies greatly according to their location. Some cities offer above-average pay to financial advisors, which include Bangalore (57% more than the average), New Delhi (61% more than the average), and Kolkata (28.7% more than the average). 

Conversely, some cities offer below-average pay for this role, such as Mumbai (3% lower than the average), Hyderabad (9% lower than the average), and Indore (23% lower than the market average). 


Your skills would play an essential role in determining how much you earn as a financial advisor. It’s a specialised field, and recruiters look for skilled professionals with expertise in various subjects. If you have the in-demand skills for this role, you can get lucrative jobs in this industry. 

The most popular skills among financial advisors are Sales, Customer Relationship Management (CRM), and Investment Planning. 

Like most professions, having particular skills helps you in getting high-paying roles. The most beneficial skill to have as a financial advisor is Portfolio Management, as financial advisors with this skill earn 101% more than the average. Other prominent skills that above-average pay in this industry is:

  • Financial Analysis (64% more than the average)
  • Investment Planning (31% more than the average)
  • Client Interaction (2% more than the average)

By developing these skills, you can certainly enhance your career prospects substantially. 


How much professional experience you have will have a significant impact on your earnings as a financial advisor. There are many reasons for it. However, primarily it’s because financial advisors with a lot of experience have a rapport with numerous clients and have a strong reputation in the industry. The more experience you gain in this profession, the more you earn. 

Entry-level financial advisors earn 21% less than the average, and early-career ones make 14% less than the average. On the other hand, late-career financial advisors earn 171% more than the average and highly experienced financial advisors earn 369% more than the average. 

To be more specific, financial advisors with less than a year’s experience earn INR 2.93 lakh per year on average. Similarly, a financial advisor with one to four years of experience earns INR 3.2 lakh per year, while one with five to nine years of experience earns INR 5.38 lakh per annum. 

Those with 10 to 19 years of experience in this field make INR 10.11 lakh per year on average. Finally, a financial advisor with 20+ years of experience makes around INR 20 lakh per year. 


Another vital factor to consider while determining your pay in this field is which organisation you work for. However, you shouldn’t solely choose an employer based on the paycheck they offer. You should also consider the additional benefits, work environment, and similar factors while picking the right employer.

Different companies offer different salaries for this role. For example, the average salary of a financial advisor at Deloitte is INR 9 lakh per year. On the other hand, the average salary of financial advisors at Edelweiss is INR 4.6 lakh per year.

Financial advisors also work in the tech industry. For example, Dell Technologies pays an average salary of INR 16.9 lakh per annum to financial advisors. Their pay ranges from INR 6.46 lakh per annum and goes up to INR 2.18 crores per annum. 

Another notable company that offers lucrative pay for this role is ICICI Securities, whose average pay is INR 7.5 lakh per annum for financial advisors. It can go up to INR 10 crores per annum. 

How to Get the Top Financial Advisor Salary in India

We discussed in the previous section that your pay in this field depends on multiple factors. However, out of all of them, the one you have the most control over is your skillset. By developing the right skills and expertise, you can easily bag high-paying roles in this industry. 

Having the most in-demand skills will help you stand out among your peers and make it easier for you to advance your career. 

The best way to learn the latest skills in this field is through taking a professional course. Not only will a program help you in learning skills efficiently, but it will also certify you as an expert and help recruiters realise that you are a skilled professional.

At upGrad, we offer an MBA in finance program, perfect for aspirants who wish to become financial advisors. If you’re interested in a career in financial advisory, do check out the course. 


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A career in financial advisory can be very fulfilling. You’d be helping your clients plan their future, make smarter decisions, and make financial progress. 

What are your thoughts on the average financial advisor salary in India? Which aspect of this field intrigues you the most? Let us know in the comments. 

If you want to reap maximum benefits from an MBA in Finance, apply for upGrad’s MBA programs. We provide Job-ready Program in Financial Modelling & Analysis in association with PwC India. All the subjects are carefully crafted, keeping into consideration the current world scenario and competition in the market. Plus, the courses are taught by eminent industry leaders and experienced management faculty.


Dilip Guru

Blog Author
He is a Growth Hacker, Digital Marketer & Blogger. He loves solving problems of scale and long term digital strategy.
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