Top 10 Highest Paying Jobs in India 2020 – Astonishing

You have hustled hard throughout your 12+3/4+2+x (where x varies from 1 to ∞) of your formal education and now, you are looking for a job that justifies all those years of burning the midnight oil. You are looking for a career that rewards you just right, and maybe even better.

Let’s be honest, money is the best motivator when it comes to choosing the career path. And if it is an important factor for you, as well, listed are the top 10 highest paying jobs in India (in no particular order). This list is updated in 2020 and irrespective of your work level, beginner/entry-level or middle level, these will help you decide the direction you want to go in next.

Please Note – Salaries in all industries are always subject to the employee’s experience, training, and knowledge. The more you score in these domains, the better you are paid. If you are aspiring for one of the best jobs in India, the salary package is not the only factor. Career growth, job security, and reputation make a career attractive. Also, different industries pay different ‘highest’ salaries. Hence, it will be unfair to compare the salary of a Chartered Accountant in the Information Technology sector to that of a Chartered Accountant in BFSI domain. Now, let’s begin.

1) Data Scientist

While many careers have been around forever, data science is a relatively new and buzzing option offering lucrative packages. A data scientist helps manage and organize a massive amount of data that an organization collects. He gleans actionable insights from that data to drive business decisions that improve profits and customer relationships.

A big reason for taking up Data Science as a career, there is a 40 percent rise in demand approximately for data scientist since January 2019, and more than 300% since 2013. The reason for this should be clearing, considering everything today is data, and expertise in the science of managing that data is precisely what is required.

Skills

• Ability to work with complex formulas (40%)
• An understanding of consumer psychology (25%)
• Business acumen (25%)
• Skilled at programming languages (10%)

 Educational Qualification –

• Engineers – BE / BTech (without coding experience)
• Graduates (no programming knowledge)

How to be a data scientist

Here is the most common and recommended path:

• Graduates / Engineers can opt for PG Diploma in Data Science, an 11-month program and is offered jointly by upGrad and IIIT-B.
• You can also get a Master’s in Data Science while participating in global competitions held on Kaggle and working on your own projects.

Salary Package offered

Data Science offers a salary between 4 – 12 lacs to certified experts even if they have limited or no work experience in the function making it one of the highest paying jobs in India. Data scientists with 5 years of experience get INR 60 – 70 LPA. Salary ranges between the following range –

Average Salary

• India – 9,50,000
• Mumbai – 11,70,000
• Bangalore – 10,30,000
• Pune – 8,66,000

 Companies Hiring Data Scientist in India – (3300 Jobs on Naukri / 2700 Jobs on Linkedin)

• Amazon – Hyderabad / Bangalore
• Walmart Labs – Bangalore
• People Interactive – Mumbai
• GreyAtom – Mumbai
• Procter & Gamble – Hyderabad

2) Machine Learning Experts

Data Science & Machine learning is all the rage right now, and they are one of the highest-paid jobs in India, not only in India but also worldwide. Machine learning is an application of AI wherein the system learns and improves on its own without being programmed. Just like the human brain, YES!!!. Machine learning experts are the professionals who build these self-learning systems.

Skills

• Programming in R / Python
• Strong statistical knowledge
• Strong written and oral communication translated as the ability to prepare presentations, progress reports, and interactive data visualizations
• Ability to convey complex data into non-technical insights and possible decisions.

How to be a Machine Learning expert

Engineering Graduates, Software & IT Professionals, Data Professionals with minimum 1-year experience or a degree in Mathematics or Statistics are relevant for these jobs. Professionals with decent knowledge and understanding of Machine Learning may apply for the jobs or can take up a course in ML, that will familiarize you with algorithms, R/ Python, probability, statistics, basics in data science and ML. upGrad in collaboration with IIIT-B offers PG Diploma & Masters in ML which will help professionals to work as Business Analyst, Product Analyst, Machine Learning Engineer or Data Scientist.

Salary Package offered
Almost 10% of the Machine Learning jobs are for freshers, and Bangalore has the most number of openings. Starting ranges between 7 – 15 Lacs Per Annum, yes you read it right, and the package grows for mid-career professionals to up to 27 Lacs and beyond.

Salary for Entry-Level Developers (Beginners/Freshers) *Source – Naukri.com

• 0 – 3 Lakhs (11% Jobs)
• 3 – 6 Lakhs (9% Jobs)
• 6 – 10 Lakhs (5% Jobs)
• 10 – 15 Lakhs (38% Jobs)
• 15 – 25 Lakhs (38% Jobs)

For 3+ years of experienced professionals, almost 75% of them are paid in the range of 8 Lacs to 40 Lacs. Highest salary even goes up to 50 lacs.

 Companies Hiring Machine Learning Experts in India – (6700 Jobs on Naukri / 6100 Jobs on Linkedin)

• Accenture – Mumbai
• Zycus – Bangalore
• hCapital Business Consulting – Mumbai
• Quantiphi – Mumbai
• IBM – Bangalore
• ITC Infotech – Gurgaon

3) Blockchain Developer

Blockchain is the new revolutionary field and is redefining everything from currency transactions, internet connectivity, to data security and handling. Blockchain technology cuts out middlemen, reduce costs, and increase speed and reach. It is supposed to usher in greater transparency and traceability. As both private and public sectors warm up to this new, market-changing technology, there will be a considerable lack of specialists. A gaping hole that you can fill. Further, there’s also a continuously growing demand for Blockchain Developers in India.

Skills –

• Understanding of blockchain and its architecture
• Data structures
• Cryptography
• Web development
• Smart Contract Development

Educational Qualification –

• Engineers – BE/BTech (even without coding experience)

How to become a blockchain developer

IIIT Bangalore offers a PG certification course, along with alumni status and access to on-campus facilities.

Salary Package offered

Due to the lack of experienced professionals, organizations offer a handsome pay-out for the required skills. The excessive & growing demand makes ML experts land on one of the highest salary jobs in India as professionals earn up to 45 LPA. Salary ranges between the following range –

Salary

• 0 – 3 Lakhs
• 3 – 6 Lakhs
• 6 – 10 Lakhs (27%)
• 10 – 15 Lakhs (23%)
• 15 – 25 Lakhs (25%)
• 25 – 50 Lakh

Almost 75% of the professionals required are paid in the range of 6 Lacs to 25 Lacs. Highest salary even goes up to 50 lacs.

4) Full Stack Software Developer

Full-stack developers are tasked with the job of creating both the front end and the back end of a software/website i.e. they are both web developer and have a fair understanding of database systems. As web developers, they build the website for the ground up and wr`ite the code for it. They work with the website’s appearance, CSS, HTML and align it with the client’s industry, business, and target audience.

Skills

• Ability to work in a collaborative environment
• Detail-oriented with an eye of aesthetics
• Able to meet tight deadlines
• Fluent in Javascript, HTML, and CSS

Educational Qualification –

Engineers – BE / BTech (without coding experience)

How to be a full-stack developer

Individuals with Bachelor’s in IT or Computer Science can team it up with online courses about full-stack development including the necessary programming languages. The course will help them understand, how the backend of a website functions, and design elements that you need to know. Mix these with internships and projects to build and strengthen your portfolio.

Salary Package offered

Expert beginners will draw around 4 – 6 Lacs, which gradually grows to 15 Lacs with around 3 to 5 years of experience.

Salary for Entry-Level Developers (Beginners/Freshers)

• 0 – 3 Lakhs (53% Jobs)
• 3 – 6 Lakhs (39% Jobs)
• 6 – 10 Lakhs (8% Jobs)

For 3+ years of experienced professionals, almost 75% of them are paid in the range of 6 Lacs to 25 Lacs. Highest salary even goes up to 30 lacs.

5) Product Management

In large corporations, product management is a coveted position. Product Manager is responsible for the strategy, marketing, feature definition, forecasting of the product or product line among other things. In simpler terms, the product manager is responsible for understanding customer requirements, envisioning the necessary features, and working with the engineering team to build them. There are a variety of roles ranging from Associate Product Manager to the Chief Product Office.

Skills

• Empathy and a keen eye for understanding customer needs
• Collaboration, since the product manager will be working with a variety of divisions
• An eye for aesthetics
• Ability to set deadlines and meet them for prototypes, product manufacture, and delivery

How to be a Product Manager

More than a professional degree, experience coupled with a specialized course will help you to master this profession. Product managers must have an eye for details and must be well aware of the organizational goals in terms of Product Development. Then you need to see how those goals align with actual customer needs. Product managers must talk to customers regularly and converse with the sales team members who understand the market need. Use the product on a daily basis and get on customer support calls to know the feedback and improve the product accordingly.

Salary Package offered
Product Management is more of experienced professionals gamut. Beginners with experience in a different segment of work with certification have a decent scope.

Salary ranges between the following range –
The average salary for a Product Manager is 15 Lacs in India. The pay scale on the lower range is 7 Lacs and the higher range goes up to 26 Lacs. The higher range of salaries is mostly offered by companies like Amazon, Flipkart & Ola.

6) Management Consultant

The primary role of management consultants is to help companies solve problems, improve performance, and maximize growth. You’ll be concerned with the strategy, structure, management, and operations of the company.

Skills

• Knowledge of business, finance, economics, mathematics
• Ability to work as part of a team
• Interpersonal and communication skills – oral and written
• Problem-solving skills
• Ability to cope with challenges and pressure

How to become a Management Consultant
A Bachelor’s degree in business, economics, finance, the management or related areas is necessary for most organizations. Some even look for an MBA. You can couple these degrees with relevant work experience to strengthen your CV.

Salary Package offered
Management Consultant is more of experienced professionals gamut. Beginners with experience in a different segment of work with certification have a decent scope.

Salary ranges between the following range –
A lot of Management Consultants are hired on a per hour basis. Salary for Management Consultant is one of the highest in India. Below is the range of salaries offered to Management Consultants.

7) Investment Banker

We have heard so much about this career profile, seen a lot of Hollywood & Bollywood actors play this role. One of the highest paying jobs worldwide, an investment banker helps their client (a bank or a firm) invest their money wisely for the highest possible returns. It has always been one of the best jobs in India, and dealing with money – yours and others – is the stuff of dreams.

Skills
To become an investment banker, you need to

• Be very good with statistics/calculations
• Have strong research and analytical skills since you’ll be making suggestions about potential investments.
• Be on your toes, at all times. After all, in addition to being one of the highest paying jobs in India, it is also a fast-paced one.
• Have strong verbal, communication, and presentation skills since that is what most of your job will entail – convincing people or firms to invest in certain domains.

How to be an Investment Banker
Most students opt for an MBA (Finance) and then specialize in IB. If, instead of a degree, you are looking for a skills-based approach, then in India, one of the best places for learning these skills is The WallStreet School, Delhi offers a course is to make trainees job ready and hence, a practical approach is followed. The sessions which are held over 6 weeks feel like corporate training and not a classroom, and they take great pains to ensure that all their students are placed.

Salary Package offered
Mid-career & experienced professionals can earn up to 30 LPA and more, with experience. For Freshers, the pay begins from 10 – 12 LPA.

Salary ranges between the following range –
Investment Banking is a high demand career in India. Professionals who specialize in Finance from reputed institutions like IIM select this as a career option. Salary ranges from 4 lacs pa to 40 lacs pa making it one of the top paid jobs in India. Pay Package for Investment Banker is as per mentioned –

8) Chartered Accountant

CAs work in every industry and provide financial expertise for managing money well. They provide accountancy, tax, and audit services to clients and help you to understand things like the GST reform, any change in taxation policies, or salary related issues. At present, India faces a huge shortage in this industry. For the 6.8 crore taxpayers in the country, there are only 1.25 lakh full-time practitioners.

Skills

• Strong communication skills to convey complex financial aspects to your clients in an easy-to-understand manner.
• Awareness about the industry he/she is working in to be able to clients effectively.
• Strong numerical and analytical skills to be able to work with numbers and make effective decisions based on them.

How to become a Chartered Accountant
The CA course is regulated by The Institute of Chartered Accountants of India (ICAI), New Delhi. It has 4 important levels:

• Common Proficiency Test
• Integrated Competence Professional Course
• 3 years articleship/ training under a practicing CA
• CA final

More details can be found at ICAI Website

Salary Package offered

Starting from 8-10 LPA, the salary of a CA can rise up to 50 LPA or more, depending on the expertise and experience.

Salary ranges between the following range – Chartered Accountants with an experience of 3 – 4 years are paid in the range of 8 to 12 lacs. Listed are the companies with the Average Experience and Average Salary –

9) ONG Professionals

Not many people aspire to be in the oil and natural gas industry, but those who are, have ‘made it’ very well there. It is still remains one of the highest salary jobs in India as our country is the 4th largest importer of LNG after Japan. South Korea, and China, and it aims to reduce the dependence on these imports from 77% to 67% by 2022. This means that there are plenty of opportunities to work in this industry within the country only. Individuals working in this sector can also government jobs in companies like ONGC.

Skills
• Math & Analytical skills
• Interpersonal skills because you’ll have to work with others on projects
• Problem-solving skills

How to be an ONG professional
You can become a petroleum engineer by completing a BE or BTech in Petroleum Engg. and then moving on to a ME or MTech. In addition to being a petroleum engineer, you can also take on the role of site engineer, drilling specialist, reservoir engineer, production engineer, etc.

Salary Package offered

As an ONG professional with sufficient experience and domain-centric knowledge, your pay can range up to 40 LPA. A production engineer in Oil & Natural Gas sector is paid a remuneration of 15 lacs per annum.

10) RBI Jobs (Government Sector)

Reserve Bank of India is the financial architect of the Indian economy. It is jobs fall in the government jobs category and hence, not only come with satisfying salary packages but a lot of other perks as well. These include the travel allowance, the house allowance, the holidays observed, and many other benefits. Employees get posted at various locations in India and are well-trained in the financing sector.

Skills
• The right mix of competence and humility so that he/she can be properly mentored.
• Able to bridge the knowledge gap between what they have studied and what is yet to be learned.
• Ambitious.
• A constant drive to learn and improve

How to get an RBI job
There are various job openings at RBI and are released at regular intervals. Officer Grade B being the most preferred of all. Graduates with minimum 60% marks in the age criteria of 21 – 30 years, can apply for an online test.

Salary Package offered

Fresh Graduates starting on a package of 9 LPA, the salary of a comes along with a lot of perks and incentives.

Conclusion – 

These are the top 10 highest paying jobs in India – that will help you grow financially / that will be in demand. The above list clearly illustrates how a high salary package is independent of the industry one works in. The opportunity for good, high-paying work exists in every sector. One only needs to be clear about their goal, know which path to take, and preserve in order to make the best of that opportunity.

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Nitin Gurmukhani

There is no better service to society than helping voluntarily. Grammarly fan, random reader, and an avid learner.

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