Financial Analyst Salary in India in 2021 [Average to Highest ]

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. 

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.

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.

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. 

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. 

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!

Conclusion

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.

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