It is quite understandable that the pay scale is crucial when you start a new job. It is a critical aspect of your job search because for a significant part of your student days you worked hard to reach where you are now.
Especially if you are a recent college graduate, your expected salary more or less decides your future career path. Even for professionals with decades of experience, money may be one of the biggest motivating factors in life.
Although the ranking of highest paying jobs fluctuates from year to year, the list stays almost the same. In this article, we provide you with an idea about which positions can help you earn well.
List of the highest paying jobs in India right now
Based on your background, skill-level and previous work, here are the best jobs with high salary packages:
National Average Salary: ₹37,446 per month
Primary Duties: Medical experts work in high-stress environments. The candidates need empathy and precision to handle the complex job duties.
Owing to the exceeding need for healthcare professionals in the private and public sectors, doctors and surgeons are in high demand. As a result, they command a hefty pay scale. Depending on the specialisation stream, such as dentistry, cardiology, optometry or others, the salary package will differ.
Per the data from last year, gastroenterologists, cardiologists and orthopaedic surgeons are among the top medical specialists who earn a high annual package, anywhere between Rs. 15 lakhs to Rs. 23 lakhs.
National Average Salary: ₹40,827 per month
Primary Duties: You will typically have sound knowledge of the finance world, including stocks, securities, financial assets and everything related to investments. You will be helping your clients make crucial business decisions, mergers and acquisitions.
There are thousands of opportunities for investment banking jobs in India. These include knowledge manager, senior equity analyst and legal & compliance manager posts.
People with a bachelor's degree in finance, commerce, business administration or economics are apt to pursue a career in investment banking. Even an entry-level position can fetch you around Rs. 12 lakhs per year and go up to Rs. 50 lakhs for mid-level and top spots.
National Average Salary: ₹52,423 per month
Primary Duties: Data scientists manage a massive amount of data across various sectors - retail, IT, finance, insurance and others. If you are a recent pass out with a B. E. or B. Tech in computer science or any other engineering stream, you can apply for these jobs.
Data scientists, with even minimal experience, are welcome in many industries. So it is no surprise that these experts have some of the highest paying jobs not only in India but worldwide.
The average pay package is between Rs. 9 lakhs for a fresher and Rs. 60-70 lakhs for someone with more than five years of experience. Having a master's degree in data science from a prestigious institute will arm you with more chances to settle down in this career path.
National Average Salary: ₹42,383 per month
Primary Duties: As a machine learning expert, you need a conceptual understanding of computational statistics. You build powerful techniques and AI-based neural networks using data mining predictions.
A background in engineering, coupled with substantial experience with Big Data and a thorough knowledge of Python and machine and deep learning algorithms, can be huge assets for you. You will work alongside data scientists, analysts, app developers and other professionals in healthcare, retail, IT, finance, transportation and other industries.
By now, you may have understood that AI (Artificial Intelligence) is going to be the future. Freshers can gain hands-on training and improve their skills by working as interns. For someone with under one year of work experience, the salary can be Rs. 2.5 lakhs and you can earn around Rs. 1 crore per annum in around 20 years.
National Average Salary: ₹16,521 per month
Primary Duties: As a chartered accountant, you will be looking after the budgeting, auditing and financial accounting of a company. You can find work with individuals, institutions, agencies, accountancy firms and consultancies.
Chartered accountants (CAs) have always commanded tremendous respect in the world. Even in India, CAs have some of the highest paying jobs acting as financial advisors and helping clients find profitable solutions related to banking and tax management. A degree in commerce serves as the basis in this field, although students with science and arts backgrounds can also apply.
However, it is mandatory to clear the foundation course from the Institute of Chartered Accountant of India (ICAI) and become a member. The attractive salaries for CA professionals in India average Rs. 2.8-30 lakhs, depending on the job type and firm.
National Average Salary: ₹25,927 per month
Primary Duties: Since the job portfolio focuses on coding, design and development, it will help if your education is rooted in computer science. You should be proficient in coding, algorithms, maths and programming languages like Java, Python and C++ to test Blockchain applications
Even though Blockchain technology is still in the nascent stage, it is a lucrative field with many takers. The young generation of tech enthusiasts understand its value. Even the government of India has implemented Blockchain technology in projects like the Niti Aayog. You can receive from Rs. 7 lakhs to Rs. 45 lakhs per annum, depending on your skills.
National Average Salary: ₹24,509 per month
Primary Duties: Understanding the market situation, creating awareness among potential customers and ensuring profitable ROIs fall under job duties. As long as businesses exist, they will need to outdo their competitors, and improving the bottom line is the responsibility of marketing managers.
This core business element of industrial sectors has seen major transformations in recent times, with modern technology. For instance, companies now use digital and social media marketing campaigns and leverage metrics and analytical tools to track revenue growth.
You need a BBA, MBA or specialisation in domains like economics, finance, accounting or statistics. As an experienced marketing manager, your earning potential can be anywhere between Rs. 4 lakhs per annum to Rs. 25 lakhs per annum, based on where you are employed.
National Average Salary: ₹21,844 per month
Primary Duties: You can be a civil, criminal or corporate lawyer and work with individuals, NGOs, companies, businesses or work for the state. You can join as a law firm associate or start your practice at a district or magistrate court. Clearing competitive exams can get you placed in respectable positions at PSUs (Public Sector Undertakings) as a law officer, trainee executive or legal advisor.
With new fields like cyber law, entertainment law, intellectual property law and taxation law emerging, you now have more opportunities than ever. Lawyers take home a fat remuneration depending on their field of expertise, qualifications and experience. The salary may be per case basis, yet the average pay for a lawyer is about Rs. 3 lakhs a year.
National Average Salary: ₹15,600 to ₹38,455 per month
Primary Duties: Based on the job and industry, you may be assisting in governance, defence, construction, or banking. Gaining employment in various branches of the central or state government is a thing of pride for many aspirants, and the preparations begin from school days itself. Every year, lakhs of candidates attend the exams conducted by various government organisations.
Among the highest paying jobs in the public sector, civil services pay the most, but they are hard to crack. Indian Administrative Service (IAS), Indian Police Service (IPS) and Indian Foreign Service (IFS) have perks like government-sanctioned houses, cars, medical facilities and international travelling.
Defence jobs in the air force, navy and army, are highly prestigious with good salary structure. Jobs in PSUs like the BHEL, ONGC, BDL and DRDO are well-paid and offer job security, fixed working hours and numerous other benefits.
Other high paying jobs without much focus on strict qualifications
Some of the highest-paying jobs in our country have minimal focus on the prospective hire's qualifications or work experience. Even if you have a different educational background than the job listing duties, you can get recruited if you have ample talent.
The best examples of these kinds of jobs are from the creative field, such as TV, films, media, radio and other areas. Once, these jobs were considered unconventional, and people around you would discourage you from moving in that direction. Although they pose the same amount of risk and the competition has increased, many aspirants are keen on entering these fields.
Here are some career choices:
- RJ or VJ: Being a radio jockey or TV host can be your calling if you can talk eloquently. Attentiveness, spontaneity and melodious voice are some required attributes. Although you need not finish formal education, it is better to keep yourself updated about the industry's latest developments.
- Actor: If you have a charming screen presence and can express emotions at command, you can be an actor. It can be a while before you achieve success.
- Writer: You can be a writer if you can frame proper sentences in any language. Now, with free self-publishing, you can market and publish your own books.