Last updated on April 2nd, 2024 at 07:31 am
Being the world's fifth largest economy, India's finance sector consistently seeks interest from aspirants across the nation, aiming to contribute to the nation’s growth. From corporate finance to banking, myriads of finance domains are open to welcoming skilled candidates with the potential to become valuable assets.
Along with being an in-demand career all year long, the sector is especially experiencing growth in extending job opportunities across diverse finance domains- all thanks to emerging technologies like AI and Blockchain.
The hiring of white-collar jobs in India recorded a significant rise, with the total number of jobs increasing by 23% in 2022. This growth was led by around 49% of job positions claimed under financial services, implying that there is an increasing number of job openings in the financial sector in India.
Do you wish to become a part of this dynamic industry?
Let us take you through a detailed list of the top 7 highest paid jobs in India that will help you navigate your future career.
1) Financial Analyst
Financial analysts inspect financial data and make deductions so that organisations can make intelligent financial decisions. Based on macroeconomics and microeconomics data, they make predictions about the organisation’s future performance, enabling better data-driven decisions. You can pursue a US CMA Course to acquire the skills required to become a financial analyst.
Key job responsibilities:
- To conduct market research to recognise financial trends
- To analyse financial data to create reports
The average salary for a Financial Analyst in India is INR 484,260 per annum in 2023.
2) Financial Advisor
A financial advisor makes decisions for clients regarding investments, personal finances, etc. They identify and recommend the most relevant services and products to fulfil the client’s needs.
Key job responsibilities:
- To regularly update clients’ investments and constantly scout new investments
- To provide a neutral standpoint on business development projects
The average salary for a Financial Advisor in India is INR 564,554 per annum in 2023.
3) Investment Banker
Investment bankers primarily act as intermediaries between companies seeking capital and investors looking to allocate their funds for potentially profitable opportunities. They are versatile entities that work across processes like capital raising, market research, risk management and more.
Key job responsibilities:
- Key participation in Mergers and Acquisitions
- Manage associated financial risks
- To counsel clients on investments
The average salary for an Investment Banker in India is INR 17,94,292 per year in 2023.
4) Chief Financial Officer
A chief financial officer (CFO) ascertains the correctness of the company’s financial statements and reports. They work with financial auditors and accountants to prepare financial reports. They can be deemed as the leading figure in the financial domain of any organisation.
Key job responsibilities:
- To use financial data to frame policy decisions.
- To analyse the company's commercial strengths and weaknesses and advise necessary actions
The average salary of a Chief Financial Officer in India is INR 358,2104 per annum in 2023.
5) Compliance Officer
A compliance officer monitors and reports a company’s activities. Usually, public or private companies hire compliance officers to ensure their activities follow the predefined guidelines released by the company’s governance agencies.
Key job responsibilities:
- To develop, execute, and manage a company’s compliance program
- To create and coordinate appropriate reporting channels to solve compliance issues
The average salary for a Compliance Officer in India is INR 522,392 per year in 2023
6) Senior Accountant
As the name suggests, a senior accountant oversees the financial entries comprising processes like revenues, expenses, liabilities, investments and more to create well-compiled and accurate records. Overall, it can be safe to say that a senior accountant is the backbone of any financial body
Key job responsibilities:
- Prepare financial records with utmost accuracy
- Verifying and allocating accounts payable
- Train junior accountants
- Assess financial journal entries to keep records
The average salary of a Senior Accountant in India is INR 6,05,000 per annum in 2023.
7) Hedge Fund Manager
Hedge fund managers help investors obtain the best return for their investments. After analysing the local and international markets, economy, consumer behaviour, and other related aspects, they create a financial strategy.
Key job responsibilities:
- To offer investment recommendations to clients considering risk tolerance and predictions
- To conduct market research and analyse trends
The average salary for a Hedge Fund Manager in India is INR 2,800,000 in 2023.
Conclusion
Despite facing back-to-back global economic concerns, whether the global pandemic or post-pandemic recession, the future of the finance sector in India seems promising. In order to help you prepare for the optimistic future, our list of best finance jobs will enable you to navigate a career in your field of interest.
Hoping to get a headstart?
The Certified Management Accountant course from Imarticus can be your guide to navigating the complex realm of finance with ease. If you’re inclined towards accounts and financial reporting, this course is the best choice for you!
