One sector that is booming at a tremendous rate is the finance sector. It is driven by globalization, technological advancements, economic reforms and even educational growth. With so much going on, the need to hire experts and professionals is also rising. But from a job-seeker perspective, what according to you are the highest paying finance jobs?
There are so many job profiles in the market, some of which have a decent package. So, if you are new to finance or looking to switch your job in 2024, here are top 10 highest paying finance jobs in India you can consider.
10 Highest Paying Finance Jobs
Given below is a list of 10 Highest Paying Finance Jobs in India in 2024:
1. Investment Banker
Investment banking is a very lucrative field these days. The role as an investment banker is to advise on mergers, capital raising and acquisitions. One might have to work for long hours but the financial rewards compensate for everything. Apart from basic salary, you can get bonuses, commissions and other perks. A fresh entrant can get a salary range from ₹8-15 LPA, while for professionals it can go up to ₹50 LPA.
2. Hedge Fund Manager
As a Hedge Fund manager your role is to manage the portfolio overseas in a way to generate maximum returns. Usually companies allot a set of clients to such managers. In order to excel in this field one must develop a strong understanding of the financial markets, market trends and analysis. The stakes are very high and so are the salaries. You can easily expect somewhere between ₹25 Lakhs-1 Crore p.a.
3. Private Equity Associate
Just as the name implies a Private Equity Associate’s role is to analyze the investments held in a private company along with all existing investments. The role includes due diligence, portfolio management, valuations etc. The initial salary is around ₹9-10 LPA. But as you climb upwards you can expect higher salaries.
4. Financial Analyst
One Job profile every finance professional must have heard of is- Financial Analyst. But do you know what they do? Their role is to analyze the financial data and help make better & informed decisions. Analysts are usually employed in the sector of consulting, service and even in banks. The entry level salary is ₹6-10 LPA whereas the experienced analysts get ₹15-25 LPA.
5. Chief Financial Officer (CFO)
CFO is an executive level role and he is responsible for decision-making regarding the financial health of the company. The role doesn’t end because he has to look after the financial planning, risk management, financial reporting as well as the record-keeping of the whole organization. With so many responsibilities the financial reward is equally high. The package of a CFO starts at ₹30 LPA and goes as high as ₹1 Crore. The monetary level depends on the complexity of the organization.
6. Risk Manager
Next one in the list is Risk Manager. The job of a risk manager is to mitigate and identify potential risks. Analyzing market trends to frame strategies that will protect the assets of the company is their task. Nowadays, businesses are becoming risk-aware hence the need to recruit Risk Managers is also increasing. One can expect a salary ranging from ₹10 LPA to ₹25 LPA.
7. Financial Consultant
The role of a financial consultant lies in its name only. They have to provide consultancy services to their clients on matters like real estate, tax planning, investments, markets and even retirement strategies. The best part is that one can work for an organization or separately. Most CAs in India have their own consultancy firms. There is no cap on earnings if you work solo. Rest you can easily make ₹8 LPA to ₹20 LPA while working in a company.
8. Corporate Treasurer
To manage the assets and liabilities of a company, a Corporate Treasure is needed. It is his duty to analyze and report if adequate funds are there for operations and investments in a company. In a nutshell, their job is to focus on liquidity as well as risk management. Salaries start from ₹15 LPA to ₹30 LPA. You will get more depending on the industry type and size of the industry.
9. Actuary
Actuaries work on mathematical risk calculations, risk theories as well as statistics. Insurance sector and government departments often hire an Actuary. Likewise in the pension fund departments they have a prominent role. The skill set is very exclusive and a strong background in mathematics helps them get a starting package of ₹6-₹12 LPA. As your experience grows the salary also increases up to ₹30 LPA.
10. Wealth Manager
There are lots of people that need personalized advice related to maximizing their wealth. Such people are either HNIs or whose income is huge. The job of a Wealth Manager is to create a portfolio that will suit their client’s needs and minimize the risks. Earlier very few people knew what a Wealth Manager meant. But the demands are increasing which in turn is increasing the salary points. Usual package is ₹15 LPA to ₹20 LPA. Some top level earn ₹50 LPA as well.
Highest Paying Finance Jobs: Finay Say
India’s finance sector is robust, it offers some of the highest paying finance jobs to people. Each role is different and requires a fresh skill set as well as qualifications. Ultimately the main thread is the potential of getting good financial rewards. Money should be a factor but it should not be the only one. For young financial professionals the opportunity to work in varied fields, developing analytical skills, getting certifications etc, should be the main aim.
We are in 2024, and the finance industry will evolve more due to the influence of many things happening around. With it comes change in dynamics and it increases the responsibility of the seekers to be updated with each and every thing.
So, whether you choose risk management, hedge fund, actuary or the profile of an accountant, the most important thing is to hone your skills.
If you have any other highest paying finance job in mind, comment down below!