‘Do what you like; money is secondary.’
Ya, right.
But, how can anyone avoid news headlines like the one below?
Source: ndtv.com
Isn’t it innate to grow snoopy on hearing such stories?
Choosing a career by solely considering the monetary aspects is not wise; we all (okay! some of us) understand and acknowledge this idea. Even then, the curiosity to know about the highest paid jobs in your country is irremediable.
Keeping philosophy apart, money still serves as a major charm behind choosing a career in India.
Now, to satiate your inquisitiveness, we have prepared a list of 10 highest paid jobs in India.
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Actuarial Science Professionals
A career in the field of actuarial sciences is an unconventional alternate.
IAI (Institute of Actuaries of India) is the sole authority that regulates the profession of actuaries in India. To become an actuary one must get registered with the authority and clear the ACET (Actuarial Common Entrance Test), and 15 other exams, subsequently.
An actuary is:
Source: Economics Times
Though at entry level, you might find it hard to grab a job, as you gain experience and expertise you will have a promising career. While at the entry level your package may be somewhere around 3-4 lacs, with experience it can go as high as 9-10 lacs per annum.
KPO’s, Insurance Companies, Consultancies, Banks, and Pension Companies are the main recruiters.Besides, there is also a huge demand for actuaries in the international market.
Know all about the profession of actuaries.
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Pilots
The earnings of pilots have always been high; in the recent past this has increased to another sky-high level. While Air India pilots earn somewhere between 5- 43 lacs per month, other renowned airlines like Indigo Airlines are also seen offering attractive salaries and frequent hikes.
Also, Indian pilots are in very high demand by Gulf carriers such as Etihad and Qatar Airways. Apart from the tax-free salary, these international airlines pay for all the basic amenities like house, children’s education, and medical expenses.
Because of such lucrative offers by international airlines many of the Indian pilots have moved there. Considering this, the domestic airlines have also started providing salary hike to retain their pilots.
A junior officer at entry level gets a package of 3-10 lakhs while with experience their salary can go upto 80 lakhs per annum.
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Business Analyst (BA)
A business analyst is a person that acts as a communicator between stakeholders and IT. A BA’s job involves understanding the changes that are needed from time to time, the impact of these changes on the business, and planning and implementing those changes in alignment with the stakeholders and IT.
There is no specific way to become a business analyst. Professionals who have a good experience and understanding of the environment are eligible for this post. To become a BA, you must be an excellent communicator, problem solver, analyser, and must possess sound knowledge about your business environment.
In the career of BA, experience and expertise are often given privilege over degrees.
Salary Range: 2.5-11 lakhs per annum.
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Chartered Accountants
Chartered Accountants are the individuals who have qualified the ICAI (Institute of Chartered Accountants of India) requirements to be awarded the degree of Chartered Accountancy.
CAs are needed in all sort of professions from entertainment to sports, and from medical to law. Every profession has to deal with the tax formalities and India’s tax system is too complicated to understand for anyone who is not aware of the updates and the technicalities.
The major reason for increasing demand for professionals in this field is that ICAI is the only statutory body that regulates the profession of CA, throughout the country.
The unified regulation has kept the quality of this profession quite maintained. The institute also conducts a campus placement drive every year and companies like TCS, The Federal Bank Ltd., ICICI Prudential Life Insurance Co. Ltd., Wipro, Marriot Hotel, Jindal Steel and Power Ltd., Alghanim Ltd., Barclays, ITC, Cairn India, Coca Cola India, Larsen & Tubro, etc. are often seen at such drives.
Apart from that, a CA can even start his own firm and serve multiple clients at a time. The earnings in this profession vary significantly with the level of experience and skills.
The annual salary package is usually 3-6 lakhs at entry level, but as the years of experience are added the salary package can go up to 40 lakhs.
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T.V. Artists
In this profession, the competition is severe. It is not a cakewalk to find a job in this field. Hundreds of thousands of aspirants are trying their luck in this field every month.
However, if you have the right talent for this field, you need not worry. The efforts and perseverance put in initially will lead you to highest promising outcomes in the future.
Salary Package
Freshers: 2k – 10k per episode.
Average Actors: 10k – 20k per episode.
Established Actors: up to 1 lac per episode.
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Investment Bankers
Investment Bankers are the professionals that provide consultation on money matters. They guide people on what could get them the best return on their idle funds. The demand for investment bankers in India is huge, for India is a continually developing economy with enormous investment possibilities.
The skills required to do well in this profession are analytical skills, communication skills, ability to handle stress and complex situations, a flair for figures and budgeting, etc.
However, the demand for investment bankers is usually influenced by the state of economy, i.e. in times of inflation, the demand is likely to be higher while in the times of recession the demand may decline significantly.
Source: Hindustan Times
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Lawyers
This is a profession where your skills, experience, and contacts play a crucial role. While there are lawyers who are unable to get work and are earning peanuts, there are also lawyers who are charging up to one crore for just one court appearance.
So, in the profession of a Lawyer what you earn out and out depends on the quality of your work. If you are strenuous, sharp, wise, and have developed good contacts, sky is the limit for you.
Pay Scale
Interns: 0-5000 per month.
Freshers: 10000-30000 per month
Experienced: 15000 – no limit.
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Medical Professionals
Yes, becoming a doctor is one of the mainstream career choices in India. ‘Doctor,’ was certainly the safest answer for all of us to the question ‘What do you want to become when you grow up?’
And this was not without a reason. Doctors are among the most respected and the most highest paid professionals in India. Even after the high-level competition, arduous curriculum, and difficult training Indian students still fancy becoming a doctor. This is because this profession is highest promising and would stay so in the long run.
A Doctor can work with a private or government hospital or start his own clinic. While in Government job the salary growth is limited in private sector the famous specialists charge several lakhs per operation.
It is not possible to tell the salary range of Indian doctors. As it out and out depends on the skills of the individual.
However, a fresher with an MBBS degree earns no less than 25k-35k per month. And this can go up to several lakhs per month depending upon the skills, sector, and speciality of the individual.
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Merchant Navy
Merchant Navy is often confused with Navy (an Indian Army wing). However, Merchant Navy and Navy are different; Merchant Navy deals with commercial services like import and export of cargo across different countries while Navy works in the area of defence services.
With the rapid emergence of globalization, the import-export businesses are flourishing speedily. A career in Merchant Navy can be challenging and at the same time exciting and promising.
The career opportunities are huge in both private and public sector. The prime domestic and international hiring companies are Shipping Corporation of India, Essar, Chowgule Shipping, Chevron and Mobil, Wallem Ship Management, Denholm, Bibby Ship Management.
At the entry level, the earnings may not be very attractive ( it can be anything between 2.5-3 lacs per annum). However, with experience and time, the salary package can go as high as 96 lacs per annum.
Source: India Today
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Digital Marketing
Today over 30% of India’s population comprises internet users; in 2000, the internet users were only 0.5% of the entire population. This internet population of India contributes approximately 13-14 % of world’s internet population. This scenario has increased the possibilities for a career in the field of the internet to an enormous extent.
All the businesses that need to sell their products or services cannot ignore the potential of the internet. This state has given birth to the need of a digital marketer.
A digital marketer is simply a person who does marketing for online products and services. He is associated with online advertisements, content marketing, video marketing, SEO (Search Engine Optimization), social media marketing, online branding, mobile marketing, etc.
The best part about a digital marketer’s job is that they do not need to be working for one particular company. They can freelance their services to multiple clients, at a time. This severely increases the earnings.
Candidates who have good analytical, and creative skills, have a strong online presence and can understand consumer needs and behaviour are best suited for this profession.
A digital marketer can earn anything between 2 – 12 lakh per year depending upon his skills, and experience. Besides, with the ever-increasing presence of Indian population online this figure can further increase to a good extent.
Conclusion
So, these were the highest paid jobs in India. Some of them like Doctor, Lawyer, and Pilot are the traditionally popular areas while the others like Actuary and Digital marketer have started gaining popularity in the recent times.
Now, these careers are certainly the most promising careers in India. However, in each of these professions, the level of earnings completely depends on an individual. A person’s skills, talent, and experience are what play the most important role in almost all of these professions.
Besides, these are not the only professions that will earn you a lot of money. India being a developing country, there is potential in all sort of jobs and professions. You only have to be diligent and talented. If you are, you will never look back.