In any job search, you have to sift through several postings and identify the roles that match your profile and aspirations. When you are interested in entering a specific field, you may want to know about the lucrative career opportunities in that particular domain. In this article, we would cover the highest paying finance jobs in India.
A specialization in financial management can get you some of the highest salary finance jobs in India entail. Here are the broad categories where you can find employment:
- Advisory services
- Corporate finance
With this perspective, let us look at some well-paid job titles and understand their work requirements. We have also provided a ballpark figure of the annual compensation associated with every role, as reported by Payscale.
Highest paying finance jobs in India
1. Financial Analyst
Job responsibilities: Financial analysts look after company finances, poring over data, and supporting financial management decisions. They also evaluate the possible outcomes of business and investment recommendations. Typically, they are hired in junior and senior capacities in banks, insurance companies, funds, and other financial institutions. Apart from basic financial literacy and accounting skills, these practitioners must possess critical thinking and communication skills.
Average salary: INR 4,09,903 p.a.
2. Compliance Officer
Job responsibilities: Compliance officers or analysts work in public or private companies, and sometimes in established nonprofit organizations, to ensure that all activities are carried out as per the guidelines set by the governance agencies. Since the long-term financial growth depends upon the established standards and regulations, these professionals play a crucial role in the finance industry. Their work involves aspects of data analysis and reviewing processes and related infrastructure to achieve compliance.
Average salary: INR 5,39,500 p.a.
Read: Why MBA in Finance?
3. Financial Advisor
Job responsibilities: These professionals identify short-term and long-term financial goals for their clients and recommend the most suitable products and services to achieve them. For example, the primary duty of an insurance advisor is to research and suggest insurance offerings and interact with underwritings and risk managers for implementing their various job-related tasks. They are also responsible for providing direction to individual customers regarding the purchase of appropriate life, automobile, housing, and other insurance types.
Average salary: INR 6,00,000 p.a.
4. Senior Accountant
Job responsibilities: Like any accounting job, this role involves recording entries related to assets, liabilities, revenue, and expenditure of a firm. Senior accountants are at the top of the rung, overseeing and analyzing the financial information and statements, maintaining balances, and resolving discrepancies.
Average salary: INR 4,12,977 p.a.
5. Loan Officer
Job responsibilities: Loan officers approve, authorize, and process applications of real estate, business, or credit loans. They assess candidates’ financial status or creditworthiness and subsequently interview them. Setting up plans for debt payment and evaluating applicable metrics and ratios are some of their other duties. You can work as a loan officer in a mortgage company, a commercial bank, or a credit union.
Average salary: INR 4,60,000 p.a. (starting)
6. Information Technology Auditor
Job responsibilities: IT auditors work in government departments or private companies to attain synchrony between the technology infrastructure and enterprise needs. They also look after IT compliance and digital security to enable smooth functioning of all organizational processes.
So, the audit review procedures can extend to software programs, computer networks, communication systems, and security setup. This job necessitates an adequate understanding of physical IT controls within the company and requires knowledge about the business operations and financial practices.
Average salary: INR 10,74,419 p.a.
7. Financial Software Developer
Job responsibilities: As the finance industry embraces technology and the internet, the demand for software developers has experienced a sharp rise. These employees design, develop, test, and maintain software and other programs that align with the company and end-users’ needs. Fintech is an emerging space for software developers as it envisions efficient delivery of financial services and associated activities. Some examples include mobile payments, stock trading applications, budgeting apps, and cryptocurrencies.
Average salary: INR 7,06,919 p.a.
8. Investment Banker
Job responsibilities: As an investment banker, you are responsible for managing an investing entity’s investment portfolio. In other words, you keep track of the money invested by your client in different businesses to optimize the return and achieve the predetermined financial goals.
Investment bankers handle stock and bond issues and also arrange for debt financing. Additionally, they are well-versed in managing merger and acquisition deals that bring in the most financial gains for investment banks. Investment banking is among the highest paying finance jobs in India, where candidates with significant experience can earn a total remuneration of Rs 16.5 lakh a year.
Average salary: INR 8,71,972 p.a.
9. Hedge Fund Manager
Job responsibilities: High net worth individuals who are enthusiastic about investing often hire hedge fund managers to monitor markets and maximize their earnings. The job functions are similar to that of investment banking, except for the higher risk-reward portfolios of hedge fund managers.
Investors pool their capital to make investments, and the fund manager protects them. Due to the intense working hours and technical nature, this career comes with a high entry-level salary of Rs 7.5 lakh a year.
Average salary: INR 24,00,000 p.a.
10. Private Equity Associate
Job responsibilities: Private equity and venture capital funds provide finance to early-stage ventures and growing businesses. This funding comes in exchange for profit participation or equity stake in the investee company. Like hedge fund managers, private equity associates liaise with the investor firms/individuals and apply their capital to business ventures having growth potential.
Average salary: Rs 32,38,889 p.a.
11. Chief Financial Officer
Job responsibilities: The Chief Financial Officer or CFO has the duties of managing a company’s capital structure and cash flow and planning for its future growth. Therefore, the CFO must have in-depth knowledge of accounting and financial modeling, among other skill sets. These executives also oversee the work of analysts, manage financial teams, and make decisions related to costing and technology infrastructure. The CFO title is particularly prominent in the retail and commercial banking sector in India.
Average salary: INR 1,550,480 (mid-career); INR 37,03,135 (senior)
12. Chief Compliance Officer
Job responsibilities: As the title suggests, this job is a top-notch role in compliance monitoring and policy management. CCOs apply their education and experience to eliminate non-compliance fees for the firms. Before landing this coveted spot, they may work as analysts, managing directors, and other positions to master the ropes and legal standards.
Average salary: INR 15,75,000 p.a.
13. Chief Risk Officer
Job responsibilities: Chief Risk Officers or CROs work in financial firms, looking out for any events that may threaten the company’s profitability or financial solvency. They monitor investments, interact with the CCO, and assess risks by applying their superior analytical and problem-solving skills.
Average salary: INR 13,00,000 (mid-senior); INR 50,86,824 (senior)
14. Management Analyst
Job responsibilities: Management consultants and analysts work to improve business performance. They examine specific issues and develop solutions to boost efficiency. To work as a management analyst, you should be able to interpret data and information and use your findings to create proposals for the company. Professional certification in business analytics can help you become more job-ready for management analyst positions. Alternatively, you can consider applying for a specialized MBA program.
Average salary: INR 4,66,853 p.a. (entry level)
Also Read: MBA in Finance Future Scope
15. Personal Finance Advisor
Job responsibilities: Personal financial advisors provide their services in diverse areas, ranging from life insurance, estate planning, investments, taxes, retirement planning to personal budgeting assistance. You can also start a practice or consulting firm for this purpose. It would be ideal to have a background in accounting or finance, followed by an MBA or MSc. in Finance.
Average salary: INR 4,90,565 p.a.
Must Read: Top 10 Highest Paying Jobs in India
The Way Forward
In a growing economy like India, BFSI (Banking, Financial Services, and Insurance) is a critical section contributing close to 6 percent of the annual GDP. By 2022, the BFSI sector would require an additional 1.6 million skilled workforce, as estimated by the National Skill Development Corporation (NSDC).
If you are looking to upskill, you can consider taking up an advanced certification course or a PG diploma that meets your learning goals. It would be best to select a program after going through its syllabus, duration, financial commitment, and accreditation status.
You can go for education programs like upGrad’s MBA – Finance (Liverpool Business School). It aims to familiarize you with the fundamentals of Accounting Statements, Risk Management, Working Capital Management, Marketing, HR, Economics, Project Evaluation, etc. Besides the in-class content, entrepreneurs and mid-stage career professionals can also gain from industry projects and mentorship sessions.
Moreover, you can enroll while working, devoting about 10-12 hours per week for 20 months. Upon completing the program, you would earn dual credentials from LBS and IMT Ghaziabad.
Future-oriented online courses like MBA in Digital Finance and Banking can help make your candidature more attractive for existing and new job positions in the BFSI sector. The curriculum aims to equip you with the knowledge of fintech ecosystems, applications of AI in business, blockchain and cryptocurrencies, financial valuation, data visualization, fraud and risk analytics, and business leadership.
This course is available on upGrad’s platform and accredited by the Jindal Global Business School. JGBS alumni have been employed in companies like Amazon, Deloitte, Barclays, ICICI Bank, Yes Bank, Philips, GSK, ITC, Dabur, and many other corporate giants.
This brings us to the end of this article on the highest paying finance jobs in India. We identified specific positions, described their job specifications, and also detailed the highest salary finance jobs in India can get you. The current landscape of the Indian financial sector is highly competitive. This information would not only guide you while job-hunting but also streamline your preparation in reaching your desired career path.