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

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9th Aug, 2021
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Financial Analyst Salary in India in 2024 [Average to Highest ]

India is the third-largest hotspot for Chartered Financial Analyst (CFA) placed after China and the US. The number of people applying for CFA has also seen an impressive surge of 30% in the last seven years. The employment rate of financial analysts is likely to grow 5% between 2019 to 2029, faster than the overall average of other sectors.

All these stats give us a good idea of how lucrative financial analysts’ job is with respect to their market demand.

This article will take an in-depth look at the financial analyst salary range and discuss the popular career paths.

Financial Analysts are among the top paid finance experts in India. Financial analysts draw hefty annual packages since this is a specialised role requiring niche skills and industry knowledge. 

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This article covers financial analyst salary in India, the different positions in a career as a financial analyst, and theory responsibilities. We will also uncover the skills that will offer you a high salary and the possible career paths you can explore as a Financial Analyst. This article will also provide you with information regarding how thriving it is to have a financial analysis career and why it’s worthwhile pursuing a career in this field.

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What is the average Financial Analyst Salary in India?

The Average Financial Analyst Salary in India is INR 4 lakh per annum, including bonuses, shared profits, and commissions. Pay in this field ranges from INR 2.19 lakh per annum to INR 9.93 lakh per annum on average, and the pay depends on various factors, including your experience, location, skills, and employer. 

At a beginner level Financial Analyst with less than 1-year of experience, you can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of ₹342,516 per annum. An early financial analyst with 1-4 years of experience earns an average total compensation of ₹387,058 per annum.

If you have somewhat of an established career with  5-9 years of experience, you can make an average annual salary of ₹588,755 per annum. An expert level Financial Analyst with 10-19 years of experience earns an average total compensation of ₹850,683 per annum.  

This field of work offers diverse career opportunities in India. This financial branch is responsible for the expansion of business with its analyses on market trends. Hence, you can find Financial Analysts roles in MNCs, placement agencies, startups, and almost all other organisations across all sectors.

The high annual compensation is attributed to the fact that the success of a company or a client is directly proportional to the performance of the financial analyst. They make high-precision predictions backed by a detailed analysis of trends that help companies make data-driven financial decisions. They receive hefty bonuses and commissions along with their basic salaries. 

Financial analysts have a higher earning potential than other professionals because their work covers a wide range of industries capable of delivering huge turnovers.

What Do Financial Analysts Do?

A Financial Analyst’s job is to study the marketplace trends, demographics, and microeconomic factors to help make investments beneficial for the company. The financial analyst is also responsible for advising companies on issuing their bonds, splitting stock and other areas of concern.

Financial Analysts’ most vital role is to comprehend how and where the company has invested its resources and how secure and fruitful that financial outlay will be. 

A financial analyst should be skilled to understand how to present investments affect the company and how those investments and future financial interactions will affect the company’s short and long-term growth. 

Financial analysts are responsible for providing information regarding the company’s current financial standpoint and making suggestions to the company’s decision-makers. They also take the role of an advisor and analyse the ways to protect a company’s wealth in the short term during economic downturns.

A Financial Analyst must have a bachelor’s degree in finance/business or a related field. Most employers select candidates with both practical experience and a valid degree.

Financial Analyst: Related Roles that Offer High Salaries in India

So far, we have discussed the average Financial Analyst salary in India. Now, we’ll discuss some additional roles or career paths for Financial Analysts that offer higher pay and benefits. These roles require extensive industry experience and an advanced skill set as they are senior roles.

1. Senior Financial Analyst

Senior Financial Analyst‘s role is to provide support and guidance related to analysing different financial metrics. Their work is needed in all areas of the company because they assist in planning and decision-making related to finances for products, sales, marketing, etc.

Their job requires them to possess the ability to learn and adapt quickly as the different areas of the company demand the analyst’s attention. Senior Financial Analysts must analyse and provide the necessary information to the company effectively and timely. They prepare and present reports to company stakeholders, which is why excellent communication skills is a must.

To become a qualified Senior Financial Analyst, one must possess a degree of Master of Business Administration (M.B.A.), Certified Public Accountant (C.P.A.), and/or Certified Management Accountant (C.M.A.) Designation. Apart from these essential requirements, one must have a strong command of finance and accounting, strong attention to detail, and phenomenal analysis skills.

An Average Senior Analyst, Finance Salary in India is about ₹572k per annum. A beginner level senior analyst,  finance with less than a year of experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of ₹411,427. A slightly established early career in Senior Analyst, Finance with 1-4 years of experience earns an average total compensation of ₹489,852.

A career with 5-9 years of experience as a Senior Analyst, Finance earns an average total compensation of ₹597,676. An experienced and well established Senior Analyst, Finance with 10-19 years of experience earns an average total compensation of ₹777,950.

2. Finance Manager

The main responsibility of a Finance Manager is to develop and monitor the budgets of the departments.  Finance managers make suitable financial forecasts for their company and work alongside other managers and their staff to establish the company’s future budgets.

The Finance Manager’s department keeps track of ongoing expenses to ensure that they are not going over the budget.  They are responsible for cross-examining the respective managers of different departments for clarification when their departmental costs have surpassed the determined budget.  

They have several responsibilities such as finance-related reporting, taking ownership of various projects, delegating them to their staff, and following up with their staff regarding the project progress. It is their job to ensure that all project deadlines are met. They conduct performance evaluations regularly to provide timely feedback to team members.  

To be a Financial Analyst, one must have a bachelor’s degree in finance, management, accounting, business administration, or other relevant fields.  A lot of employers prefer selecting candidates who have CPA certifications and/or MBAs. To be a successful Financial Manager, you must have a high degree of proficiency in working with various financial applications and reporting tools.

The average Finance Manager Salary in India is an average of ₹991k (INR) per annum. An inexperienced Finance Manager can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of ₹518,021. An individual who is establishing an early career in Finance Management with around 1-4 years of experience earns an average total compensation of ₹729,127.

A Finance Manager with 5-9 years of experience makes an average total compensation of ₹1,078,115. A well established and experienced Finance Manager with 10-19 years of experience earns an average total compensation of ₹1,199,548. 

3. Operations Manager

Operations managers are responsible for overseeing the organization’s production of goods and/or services. They manage several departments, such as purchasing, warehousing, and manufacturing. They ensure that the company’s products meet or exceed the expectations of the clients’ or customers’. They ensure that the company’s operations run smoothly and effectively. They also are required to oversee budgets. 

Operations Manager with less than a year of experience can earn an average total compensation (inclusive of tips, bonus, and overtime pay) of ₹362,490. Operations Manager with 1-4 years of experience can earn an average total compensation of ₹436,921. An Operations Manager with 5-9 years of experience can earn an average total salary of ₹695,338. An Operations Manager with 10-19 years of experience and an established career can earn an average total compensation of ₹997,805. 

Other Job Roles

4. Management Consultant

Financial analysts can transition into the role of a management consultant. They help firms in solving financial issues, improving business, and increasing growth. They also assist the firms in crucial financial decisions. They take on an advisory role to help clients find the best investment opportunities. Management consultants in India earn an average base salary of INR 1,164,644 per year.

5. Trading/Stock Broking

Stock brokers buy and sell stocks for clients. They keep their clients updated with the market trends and advise them on the right time to buy and sell stocks. Apart from this, traders can also trade bonds, metals, and other modes of investment. Traders in India earn an average base salary of INR 891,125 per year.

6. Accountant

Accounting is one of the lucrative sectors for any financial graduate. Accountants help the companies/clients with taxation, profit & loss analysis, budgeting, and investigating financial frauds. They also occasionally identify ideal investors for issuing bonds for a company. The average pay of an Accountant in a city like Mumbai is INR 838,305 per year. 

7. Portfolio Manager

Their job is to provide the clients with profitable investment ideas. They mine through a lot of data and do extensive research on various investment options. They also offer an investment model briefing to clients on the merits and demerits of all possible investment options. A portfolio manager in India earns an average basic pay of INR 10,56,450 annually.

8. Mergers & Acquisitions Analyst

They help in taking over and selling companies. Analysts come up with detailed forecasts and predictions after thorough data mining that helps the company purchase or sellan. A mergers & acquisitions analyst in India can earn an average of INR 5,38,891 per year at the entry-level. 

Factors affecting the salary of Financial Analysts in India

1. Location

Financial analysts are given compensation following the demand and requirement of the location of their firms. Companies in big cities (where the scope of business is vast) pay their analysts more than those in Tier 2 cities. The major cities are a hub where most of the high profit yielding economic activities takes place.

The top cities in India and the average salary offered to the financial analysts are as below.

2. Experience 

A key factor that determines the compensation is the educational qualification. While undergraduates start in the financial sector as entry-level analysts, postgraduates are the ones who can climb up the hierarchy and occupy coveted positions in the industry.

  • The career of a financial analyst usually begins as a junior under the wings of a senior analyst. A few years of experience will take them to the position of senior financial analyst. 
  • A senior analyst with good experience is well placed to become a portfolio manager or a fund manager who is offered considerable compensation.
  • Certification courses enhance your earning potential. Chartered Financial Analyst (CFA) is one of the most coveted global certifications to level up in your career. The average chartered financial analyst salary is INR 6,84,3047 per year. It is nearly 76% higher in terms of the national average salary in India.
  • Financial analysts are expected to be graduates in either math or finance-related courses. To climb up the ladder, you can acquire an MBA degree from a prestigious business school. These days you can even pursue higher studies online without pausing your job. 

For instance, upGrad offers a MBA in Digital Finance & Banking from the reputed Jindal Global Business School (JGBS). The online program comprises 1020 hours of learning content and 30+ assignments that cover valuable lessons on Artificial Intelligence in Business, Blockchain and Cryptocurrency, Managing Fintech Ecosystems, Financial Management and Valuation, Data Visualisation in Finance, Digital Fraud and Risk Analytics, and Design thinking & Leadership Essentials for Business.

3. Skills

Financial analysts are expected to master a lot of skills to contribute efficiently to their employers.

  • Research skill: It is one of the most vital skills for financial analysis. It is particularly crucial for mining relevant and useful data from an ocean of data. The data is then analysed to forecast and predict the outcomes of a financial issue. 
  • Analytical skills: This involves looking at an issue from different perspectives with logical thinking to arrive at the best solution. One can master this skill through industry experience.
  • Technological proficiency: A good analyst should not restrict their knowledge to the financial sector – they should also be familiar with the latest tech tools. Many companies look for analysts with a good grip on Structured Query Language (SQL), Python, SAS, and R.
  • Communication and Writing Skills: Analysts represent their firms to the clients, and they must have good verbal and writing skills to clinch deals. 
  • Mathematical skills: Finance is all about numbers and figures, and it is indispensable for an analyst to be a master of them. This skill is particularly important for analysts in the equity research department and fixed-income analysts who analyse the value of a company and its complex assets. 
  • Decision-making skills: Financial Analysts need to stay updated with the continuously evolving finance industry trends to come up with the best decisions. An ideal analyst is expected to make spot-on decisions to solve complex issues. This includes zeroing in on the best companies for mergers and addressing tax complications.

4. Company 

The package of a financial analyst is influenced by their company’s market demand, earning potential, and location. Analysts are paid based on how well their company performs as their compensation includes profit bonuses and performance incentives.

Salary of Financial Analysts in other countries (US and UK)

Chartered Financial Analysts (CFA) are in demand globally, and according to the statistics in 2014, 66% of CFA are from the USA. The compensation given to a CFA in the USA is quite remarkable. As per the statistics provided by the CFA Society in Chicago, USA, the average salary given to a graduate CFA in October 2015 is $215,542 annually as against the bachelor holders who received $154,025 per annum. A non-CFA graduate and bachelor’s degree holder are given $160,000 and $85,875 per year, respectively.  

The UK produces the next highest number of CFA members. The average compensation given to financial analysts in the UK ranges between 30,000 GBP to 78,300 GBP depending on the experience, skills, and location. 

In the UK, London offers the highest pay to the analysts who can pocket a package between 38,700 GBP to 101,000 GBP.

Training in the updated data analysis software is the quickest way to climb up the ladder and receive the highest package in the UK. Specialisations in ACA, ACCA, or CIMA also help in catapulting to the top positions.  

Future Scope of Financial Analysts

Financial Analysis is considered a premium Wall Street career in India. A quick search on LinkedIn will show you that over 2000 financial analysts job vacancies exist in India alone, which shows the high demand for the profile. The areas where financial analysts can fit in are plenty. 

Multinational banks, financial institutions, the Reserve bank of India, Industrial & Development Bank of India, stockbroking firms, insurance companies, finance, and leasing companies are some of the top recruiters for financial analysts. 

The employment of financial analysts is expected to surge by 5% between 2019 to 2029, higher than the average of other sectors. This makes India a hotspot for financial analysis with ample opportunities. Their annual package is also expected to grow with growing economic activity.

How to Get a High Financial Analyst Salary in India?

The field of finance offers some of the most well-paying jobs and additional benefits. However, a Financial Analysts salary primarily depends on multiple factors like educational qualifications, experience, and skillset. Thus, it is imperative to develop industry-specific skills to establish yourself as a successful financial analyst.

One of the best ways to develop financial analytics skills is by taking a worthwhile course relevant to your field. A well-structured course and informative curriculum will provide you with the knowledge you need for excelling in this domain. 

upGrad is one such online platform that offers multiple online courses in various fields. The Global Master Certificate in Business Analytics from Michigan State University and Master of Business Administration (MBA) in Digital Finance & Banking are two fantastic courses for aspiring finance professionals. 

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These courses aim to help students gain the necessary knowledge and skills to navigate through the domains of finance and business analytics. You will learn data fundamentals while working with tools like Tableau, R and Microsoft Access. Plus, you will also explore the nuances of Artificial Intelligence in Business, Blockchain & Cryptocurrency, Fintech Ecosystems, Financial Management & Valuation, Data Visualization in Finance Digital Fraud & Risk Analytics, and much more!


The demand for Financial Analysts isn’t diminishing anytime soon. So, if you are interested in finance (and have a knack for analytics), we recommend that you capitalise on this expanding market and gain the requisite skills. Enrol in a professional course and start your learning journey today!

By now, it’s clear that to land a job in the finance sector, you must possess both general and niche skills. The most efficient way to develop all of these skills is through taking a finance course. With our MBA in Digital Finance and Banking course, you’d get to study directly from industry experts and receive 360-degree career support. The course covers many technical skills including financial management, artificial intelligence in business, digital fraud and risk analytics, and data visualization in finance.


Kamal Jacob

Blog Author
Kamal is an experienced Online marketing consultant with a high degree of expertise in SEO, Web Analytics, Content/Technical planning and marketing.

Frequently Asked Questions (FAQs)

1What are career opportunities for financial analysts?

Financial Analysts are among the top paid finance experts in India. Financial Analysis is regarded as a premium Wall Street career in India. Financial analysts make financial plans, strategies which can be used for any investment decision. The employment rate for financial analysts is expected to increase by 5% every year. There are various job roles as a financial analyst like Senior Financial Analyst, Finance Manager, Operations Manager, Management Consultant, Trader. Check out upGrad’s MBA in Digital Finance and Banking course to excel in the financial space.

2What is the average annual salary of Financial Analysts in India?

Financial analysts have ample job opportunities with insurance companies, banks, securities firms, pension, and mutual funds, etc. The average starting salary of Senior financial analysts is INR 411,427 which increases with experience, for a fresher financial manager is INR 518,021, for Operation Manager INR 436,921, portfolio manager in India earns an average basic pay of INR 10,56,450 annually there are various factors that affect the salary of financial analyst such as location, experience, skills, companies, etc. read upGrad’s Career to know more.

3Are there any skill sets required to be a financial analyst?

Financial analysts are responsible for financial planning, analysis, forecasting, financial modeling, and projection for companies and corporations. A bachelor’s degree in mathematics, finance, and related masters (economics, finance, statistics) forms a base for a career as a financial analyst. He/she typically requires research skills, analytical skills, Technological proficiency, Decision-making skills, and the ability to multitask and meet constant deadlines. The competition is intense, and basic undergraduate or even advanced degrees to some extent, are common in today’s job market. UpGrad offers multiple online courses in various fields; the two courses that are relevant to this field are the Global Master Certificate in Business Analytics from Michigan State University and Master of Business Administration (MBA).

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