The swift expansion of the finance sector in India has led to a need for proficient experts capable of handling intricate financial environments. Numerous well-paying financial positions with promising career advancement opportunities and alluring benefit packages are brought about by this expansion. It’s critical to understand the top 10 highest-paying finance careers in India, regardless of whether you have experience in the field or are thinking about changing industries.
We will look at these finance positions in this blog post, including their duties, necessary credentials, and possible pay ranges. You can choose your financial job path wisely and work for success in the field if you are aware of these opportunities.
Banking, investing, and even financial technology, or fintech as it is more popularly called, are all included in the large category of finance. Taking into account the many roles that are accessible can be beneficial if you’re considering beginning a career in finance.
The remuneration for employment in the finance sector is examined in this article, along with a list of the ten highest-paying positions in the field.
Salaries in the finance industry
The median wage for the finance sector as a whole is significantly higher than the national average, and several positions within it can be very profitable for job seekers. Careers in finance pay a median salary of $76,850, which is 66% more than the national median salary of $46,310 for all occupations, according to the U.S. Bureau of Labor Statistics (BLS).
In the ten years between 2022 and 2032, the BLS expects average job growth for the finance sector, with about 911,400 positions available per year.
As mentioned, there are numerous employment options in the industry, ranging from corporate to fintech, banking and investments, lending, accounting, and advisory.
Highest-paying finance jobs
The top-paying finance occupations are listed here. For the most recent Indeed wage data, go to indeed.com/salaries:
1. A financial advisor
The average annual wage nationwide is $82,059
principal responsibilities: These experts assist clients in determining their short- and long-term financial objectives and guide them toward sensible products. Being an insurance advisor’s main point of contact, having a thorough understanding of insurance products, and collaborating closely with underwriters and risk assessors are just a few of their responsibilities.
2. Senior bookkeeper
Annual pay average for the country: $78,897
principal responsibilities: The daily accounting tasks fall under the purview of senior accountants, who are often positioned at the top of an accounting hierarchy. They carry out duties that include monitoring company expenses, conforming to budgets, and fulfilling accounting targets.
3. Financial Actuary
Penal Salary: 25–30 Lakhs on Average
Financial Actuaries make between 25 and 30 lakhs per year on average, which puts them in third place on our list. You could refer to it as the Cinderella of finance careers in India, given that despite its great development potential and strong demand, many finance professionals have never even heard of it.
What is a Financial Actuary’s Job Role?
To evaluate an organization’s financial cost risks and uncertainty, financial actuaries employ financial models, statistics, and mathematics. To forecast future events, they evaluate historical data using statistical models. Financial actuaries’ duties include making calculations about insurance premiums, investment strategies, and retirement plans.
How does one become a Financial Actuary?
The truth is that becoming a financial actuary is not a simple path. A bachelor’s degree in math, statistics, or economics or an MBA in finance or accounting is the minimal requirement. In addition, you must have at least three years of relevant experience and be eligible for 15 tests administered by the Institute of Actuaries of India (IAI).
4. A manager of hedge funds
The national average wage is $115,515 annually.
Principal responsibilities: Investment bankers and hedge fund managers carry out comparable tasks, while hedge fund managers deal with riskier and more lucrative portfolios for investors who pool their money to invest in hedge funds. To safeguard investors, hedge fund managers are required to keep an eye on the markets, which means they rise early and depart from work late. It’s uncommon to find a full-time job in hedge fund investment.
5. An analyst of finances
Average yearly salary for the country: $73,812
Principal tasks: To assist corporate stakeholders in making financially informed decisions, financial analysts scrutinize financial data. To assist consumers’ requirements and purchasing decisions across the nation, they work for financial organizations such as banks, funds, insurance firms, and more.
6. Auditor of information technology
The average annual wage nationwide is $44,889
principal responsibilities: IT auditors typically ensure that the technological infrastructure satisfies enterprise IT requirements and compliance standards while working for governmental or private organizations. Since they spend their days performing audits, they ought to be proficient in the process, which occasionally calls for accreditation.
7. A developer of financial software
The national average pay is $108,896 annually.
principal responsibilities: Developers of financial software create applications that satisfy the requirements of end users and financial institutions in the expanding Fintech sector.
8. A private equity partner
The national average wage is $110,561 annually.
principal responsibilities: By networking with investors, these experts can obtain private equity, which they subsequently use to make business investments that round out the investors’ portfolios.
9. Officer in charge of compliance
The national average pay is $144,172 annually.
principal responsibilities: Chief compliance officers are responsible for supervising all tasks and divisions involved in fulfilling compliance criteria. CCOs assist companies in operating as efficiently as possible and avoiding non-compliance fines by managing policies and monitoring compliance.
10. The head of the financial department
The national average wage is $144,563 annually.
principal responsibilities: A chief financial officer (CFO) is responsible for a wide range of tasks, such as directing financial teams, supervising analysts, and budgeting.
Conclusion:
From our end, that is all. Your excitement for the rich professional prospects that await you must be contagious. So pick your cause, have a strong will, and go at God’s pace as you pursue success! Take advantage of the many online courses that Great Learning has to offer to propel your career forward right now!