While a career cannot be defined in terms of only monetary gains or salary, there is no denying that a job that pays well is a major attraction for most people. After investing years and years in Education, it is not surprising to want to work in areas that pay what you deserve. While there are some careers that pay well, it is important to recognize that the salary offered by different organizations and industries have different benchmarks and the salary one receives also depends on their educational qualifications, skills and experience. Want to know what the Top 10 Highest Paying Careers in India are? Then keep on reading!
1. Data Scientist
With the rapid advancement in technology-based careers, this job profile brings a lot of promise and is significantly on the rise when it comes to demand. Since, in today’s world, everything is data-driven, people with expertise and knowledge in managing data are highly appreciated and rewarded with the highest packages. The career has seen a 300% rise in demand since 2013 and 40% since 2019. Even with limited work experience or none at all, the field offers a salary ranging between 4 to 12 lakhs per annum (LPA) to certified experts and goes up to 60-70 LPA to professionals with five years of experience.
The Educational Qualification for the field requires a BE/BTech and no coding experience is necessary. Data scientists perform responsibilities like cleaning and organizing data, identifying valuable data sources, analysing large volumes of data to find meaningful patterns, and designing algorithms. An understanding of consumer psychology, complex formulas, business acumen and programming are also necessary and desirable.
2. Healthcare (Medical Professionals)
Healthcare as a career involves a number of disciplines and profiles which are equally important but with large salary gaps. In India, doctors and surgeons are rewarded with the highest salaries with the average salary of medical professionals being 10 LPA. According to sources, the average salary of a general physician is around 7 LPA and surgeons bag around 11-12 LPA. In India, AIIMS, Apollo, Fortis and Max are among the top recruiters.
A Bachelor of Medicine and a Bachelor of Surgery (M.B.B.S) from an Institute recognized by the Medical Council of India (MCI) is a basic requirement. In Postgraduation, aspirants may choose any specialization that interests them such as Surgery, Orthopaedics, Psychiatry and so on. To pursue M.B.B.S, students must opt for PCB or PCBM (Science) in grades 11th and 12th.
3. Machine Learning Experts
With an average salary being 5-7 LPA at the entry-level to a whopping Rs. 1,948,000 per annum, machine learning (ML) as a career scream promise, making it one of the highest-paid jobs in India and still booming. Machine Learning Experts may find their hub in the Silicon Valley of India, Bangalore, providing significantly a greater number of openings compared to the country’s average, followed by Delhi/NCR.
ML can be understood as an application of Artificial Intelligence (AI) where professionals build self-learning systems so that it improves on its own without programming. Yes, just like the human brain! The Educational Qualifications required are BE/B.Tech in Mathematics/Computer Science/Data Science/Statistics or Information Technology. Higher studies in similar fields also receive a warm welcome in the field. Strong statistical Knowledge, programming (R/Python), proficiency in ML frameworks are other necessary skills.
4. Product Manager
Being vigilant of the customer requirements, necessary feature envisions and collaborating with engineers to build them are the primary responsibilities of a Product Manager, hence, it’s a coveted position in large corporations. Experienced professionals earn around 17-26 LPA in the field and freshers also receive a promising salary of around 7-8 LPA.
A bachelors in Management or related fields like Marketing, Communications, Economics is basic to entering into the field. Desirable skills include an understanding of customer needs, an eye for aesthetics, oratory and negotiation skills, and collaboration.
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5. Management Consultant
With a CAGR increase of 30%, the field is rapidly growing and the role is to help companies maximize growth, improve and solve problems. Top employers in India include Accenture, KPMG, PwC, Deloitte. A Bachelor’s or a Master’s Degree in business-related fields is desirable; however, greater acceptance and acknowledgement is being given to certifications in the field too. Management Consultants at the entry-level receive 6-7 LPA, which rises to 8-11 LPA with a few years of experience and translates to 18-23 LPA for experienced professionals.
6. Full Stack Software Developer
Full stock software developers have a dual role as web developers and having a fair database system understanding, i.e., they work at both the front and the back end of a website or software. Aligning the website appearances with the client’s vision and target audience is the primary role. A Bachelor’s in Computer Science or IT, coupled with efficiency in programming and online courses could be an entry ticket into the field. IBM, Dell, Barclays and the like are top recruiters.
A salary of 3-4 LPA may be expected at the entry-level and mid-level developers may earn up to 14 LPA.
7. Chartered Accountant (CA)
Providing financial expertise for money management is the primary role and Chartered Accountants and they provide tax, audit and accountancy services to employers, working in diverse fields. Regulated by The Institute of Chartered Accountants of India (ICAI), the course is divided into four broad levels. BDO International, Deloitte, Standard Chartered, Ernst & Young are the top recruiters. The expected starting salary ranges from 6-7 LPA and may significantly increase with experience and expertise.
8. Blockchain Developer
The gap between the demand and supply of blockchain developers is huge and significant, thus, bagging a handsome salary by the organizations. One of the highest salary jobs in India, blockchain developers may earn up to 45 LPA. The average salary has been estimated at around 8 LPA. The career is redefining data security and handling, currency transactions and internet connectivity while reducing costs, cutting out middlemen, increasing transparency, speed and accuracy.
The basic educational qualification requirement is B.Tech/B.E. in Mathematics, Statistics, Computer Science and Information Technology. Coding experience in C++, Python and other popular languages is desirable.
9. Marketing Manager
Their job role is diverse and includes working in automotive, retail, finance, software/IT, engineering and other parallels of the industry. Innovative products and solutions are generated while working collaboratively with product development teams, aligned to the company’s aims and vision. A bachelor’s degree in Management/Marketing is the basic requirement after which aspirants may gain some hands-on work experience or go on to pursue courses such as MBA.
Tata Motors, Amazon. Flipkart, Vodafone and Airtel are among the top recruiters. The average salary for entry-level professionals may be expected as 4-6 LPA; with experienced professionals earning about 15-22 LPA.
10. Investment Banker
Being one of the highest-paid careers worldwide, the role is to guide the client to invest money wisely so that higher returns are acquired. The client may be a bank or a firm. The average salary ranges anywhere between 4-40 LPA, with freshers earning 10-12 LPA. Citibank, HSBC, JP Morgan Chase, Axis Capital Ltd., ICICI are among the top recruiters. A master’s degree is desirable, whereas a bachelor’s in Economics/Mathematics/Finance/Business Administration or related fields is a must.
Choosing a career may be overwhelming as it is one of the most important parts of our life. While factors such as monetary gains and salary are important, your interests and capabilities should align with your career choices and offer job satisfaction.
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Further, with the advent of technology, some careers are rapidly growing and offering much greater rewards.
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To know more about distinct careers and to get the perfect guidance towards choosing the right career, contact the Mindler Experts now!