The labour market has shifted dramatically in India. Gone are the days when the only steady occupations deemed to be the 'highest paid' were doctor, engineer, or government service. While these possibilities are still important and valued today, many more have emerged, revolutionising the Indian work market.
Let's look at the top ten highest-salaried occupations in India as of 2021 (in no particular order).
Data science is a concept that has become more popular in recent months. Data scientists are basically analytic professionals who utilise social science and technology to identify and manage data trends. This is done mostly to evaluate raw data and discover answers to a variety of business issues.
Data scientists may also assist in the development of specific statistical models and algorithms depending on end-user behaviour.
While no specific qualifications are required, engineers (BE/BTech) and students with a data science degree or certification will have a distinct edge. A basic understanding of programming languages such as Python and SQL is also advantageous. Data scientists may advance to more senior positions such as chief data scientists, big data engineers, and so on as their expertise grows.
Even without much experience, certified data scientists may expect to earn wages ranging from Rs. 4 lakhs to Rs. 12 lakhs per year. The greater the level of experience, the higher the remuneration, which may vary between Rs. 60 lakhs and Rs. 70 lakhs per year, making this one of India's top-paying IT positions.
Data science is a relatively young subject with a high salary and career prospects. Since January 2019, demand for this profession has increased by 40 per cent, and it is predicted to continue to expand.
Digital marketing is here to stay, and it's transforming the way we communicate today, thanks to the advent of social media and other types of marketing and advertising. Any sort of marketing endeavour that employs the internet and other forms of digital communication, such as email, social media, text, and web-based advertising, is known as digital marketing.
People from many walks of life are becoming marketing experts as a result of the variety and creative flexibility given by this discipline. Content writers, SEO analysts, social media managers, brand marketing managers, and other opportunities in the digital marketing area are accessible to people seeking work.
While a digital marketing degree is not required, certifications and a bachelor's or master's degree in marketing, public relations, or mass communication will be advantageous. Multiple online courses are also available to assist people to improve their abilities even further.
Professionals with less experience may earn anywhere from Rs. 3 lakhs to Rs. 6 lakhs per year, while those with more expertise can earn anywhere from Rs. 10 lakhs to Rs. 12 lakhs per year. Additionally, people with more than 10-12 years of expertise may make anywhere between Rs. 15 lakhs and Rs. 22 lakhs per year, making this one of India's highest-paying digital marketing professions.
The digital marketing business is anticipated to develop much more in the next years. People's communication and information consumption habits have altered as a result of their greater dependence on the internet, emphasising the necessity for online marketing tools and approaches.
Having a doctor in the family is seen as a source of pride since medical experts are held in high regard and are considered indispensable. While becoming a doctor, surgeon, or other medical practitioner is difficult, the benefits outweigh the challenges. As proven by our present epidemic, they are also one of society's backbones.
It takes a lot of hard work and study to become a good medical practitioner. The needed entry-level qualification is an MBBS, and further specialised training such as an MD or MS is also required (Master of Surgery). Apart from that, solid interpersonal and communication skills, compassion, and attention to detail are also essential.
Higher-paid medical professionals have more advanced degrees or specialised training. The typical beginning income for individuals with an MD is about Rs. 5 lakhs - Rs. 10 lakhs per year, with the possibility of earning up to Rs. 25 lakhs per annum or more, making this one of the top-paid medical professional positions in India.
Medical experts are required for a healthy society to exist, thus it is logical to assume that the healthcare business will continue to expand. Typically, these people begin their careers as interns and subsequently go to other positions. Higher education may enable them to specialise in areas such as neurology, cardiology, newborn care, and other specialties.
The terms AI (Artificial Intelligence) and ML (Machine Learning) would have perplexed most people a few years ago, yet these technologies are already sweeping the globe. Machine learning and artificial intelligence professionals are in high demand now and will be for the foreseeable future, as they assist businesses in making data-driven choices and positioning them for better success.
It is necessary to have a bachelor's degree in computer science, artificial intelligence, or a related discipline. For individuals interested in pursuing a profession in this industry, there is also a myriad of specialised courses accessible today. These credentials will offer you a leg up on others who do not have them.
The yearly remuneration for newcomers begins at Rs. 5 lakhs and may reach Rs. 7–8 lakhs. Salary might reach Rs. 20 lakhs per year for people with a decade or more of expertise. If you're looking for a profitable job, a career in machine learning is a great option, and it's one of the best AI jobs in India.
While machine learning technology adoption in India is still in its early stages, it is likely to increase at a rapid pace. Retail, healthcare, transportation, and education are all using this technology. According to certain estimates, the Indian machine learning and artificial intelligence market would develop at a CAGR of 33.49 per cent from 2018 to 2023.
Following up on our list of IT professions, blockchain technology is another rapidly growing subject. While the word may seem complex, it is a digital record of transactions that are used to record cryptocurrency transactions. Other uses for this technology exist. As a result of the lockdowns and the epidemic, digital payments have acquired enormous traction in India, and blockchains have emerged as a crucial financial innovation. There is a strong need for blockchain technology expertise in India since the sector is still relatively young.
Applicants with B.E/B.Tech degrees in Computer Science, Statistics, Mathematics, or other programming-related subjects, as well as those who are familiar with Ripple, R3, bitcoin, and Etherium technologies, will be given priority. It is also required to have a thorough understanding of security protocol stacks, consensus processes, and cryptographic libraries. While there are few specific degrees available in blockchain technology, there are several certificates.
An entrant's initial compensation might vary from Rs. 3 lakhs to Rs. 6 lakhs per year, and with expertise, this can increase enormously. While the average income for blockchain technology professionals is now about Rs. 8 lakhs, with time and expertise, it may rise to Rs. 45 lakh per year, making this one of India's highest-paying developer professions.
Did you know that the Indian government's Niti Aayog plan includes blockchain technology? This industry is seeing a lot of investment, and it's predicted to develop tremendously by 2025, reaching over USD 4 million.
Most parents in India used to want their children to be engineers or physicians. Despite the fact that there are many more profitable opportunities accessible today, the allure of software engineering has not faded. Because of digitalization, software engineering is one of the most in-demand and well-paid professions today.
Many colleges around the nation offer Bachelor's and Master's degree programmes in Software Engineering. Those with specific certificates will have an edge in this field, which is also quite competitive.
For individuals interested in this career, the rich pay scale is another draw. Freshers may anticipate a compensation package ranging from Rs. 4 lakhs to Rs. 6 lakhs per year, while experienced engineers can expect a salary package ranging from Rs. 10 lakhs to Rs. 30 lakhs per annum, based on seniority and experience, making this one of the top-paid engineering jobs in India.
Chartered Accountants (CA) are members of the ICAI (Institute of Chartered Accountants of India), the country's sole national accounting organisation. They are another in-demand profession. CA's are in great demand in the nation, but there is also a significant shortage, making this a rewarding career. CA's are required in all types of businesses, from tiny businesses to major organisations.
Students of the Institute of Company Secretaries of India and Institute of Cost Accountants of India who have passed the intermediate level or commerce graduates and postgraduates with a minimum percentage of 55 per cent are eligible to apply. These tests are notoriously difficult to pass and need commitment and discipline.
CA's now earn roughly Rs. 7 lakhs per year on average, with salaries ranging from Rs. 30 lakhs per year based on experience. This is one of the highest-paying CA professions in India, with some foreign salaries reaching up to Rs. 75 lakhs a year.
Chartered accountants will exist as long as there are taxes and a need to keep track of finances. With the growing number of businesses and people paying taxes, demand is only expected to climb. This is also a position with a high level of job security and is constantly in demand. Some of the leading recruiters for CAs in the nation are Standard Chartered, BHEL, and Citibank.
Lawyers have been portrayed as enjoying a high-flying lifestyle while yet battling for justice. While most of these portrayals are likely exaggerated, there is no doubt that attorneys are among the highest-paid professions in the world today. A lawyer advises and represents private and public clients, and they are classified as tax attorneys, criminal lawyers, securities lawyers, and so on.
It is advised that you have a Bachelor's degree in law, liberal arts, or political science. It is also important to pass entrance exams such as the LSAT. A Master's degree in their chosen specialised subject might also be beneficial to their job. Applicants must pass the bar test in order to become attorneys.
Independent attorneys may charge per case or court appearance, although corporate lawyers may be paid a monthly salary plus incentives as needed. Salary ranges from Rs. 3 lakhs to Rs. 12 lakhs to Rs. 25 lakhs per year, based on experience and success rate, making this one of India's highest-paying positions.
Professionals in the area of law will always be in short supply. Individuals may also go into a variety of topics related to their chosen field. A person may also become an attorney, or a judge if they have more than two decades of experience.
Investment bankers' principal responsibility is to safeguard the financial assets of their clients. They are also brokers and consultants that assist their customers in investing their money in a potentially profitable market at the proper moment in order to maximise profits. Investment bankers also assist with mergers and acquisitions, research, and serve as financial counsellors to businesses.
A bachelor's or master's degree in finance, accounting, or economics is strongly suggested. Today, many applicants pursue specialised advanced certificates or an MBA. Strong research and analytical abilities, as well as knowledge of statistics and computations and excellent verbal skills, are required.
Investment banking is one of the most profitable occupations in the nation today, with one of the highest average wages available. Entrants may anticipate earning between Rs. 4 lakhs and Rs. 12 lakhs per year, with the possibility of earning up to Rs. 40 lakhs with expertise.
Digital banking and financial services have seen great development in the nation recently, and this trend is projected to continue in the future. The need for talented investment bankers is increasing, and it is predicted to expand rapidly as new financial institutions join the market.
Management consulting is the appropriate job for you if you like helping your organisation improve its performance, solve challenges, and maximise growth. These professionals assist their customers in growing their businesses and resolving issues, as well as working with corporate operations and management, structure, and strategy.
In any business subject, a Bachelor's or Master's degree is required. Graduates with a background in Economics, Finance, or Accounting may work as management consultants.
Management consultants get an average annual income of a little over Rs. 11 lakhs. Freshers may expect to earn between Rs. 6 lakhs and Rs. 7 lakhs annually, while those with more experience can expect to earn between Rs. 11 lakhs and Rs. 23 lakhs per annum, making this one of India's highest-paying management consultant positions.
The Management Consulting industry's current annual growth rate is over 30 per cent, with the industry growing at a worldwide rate of 4.1 per cent. By the end of 2020, the Indian Management Consulting Industry is expected to earn revenue of Rs. 27,000 crore. Today's industry has a steady need for great management consultants, which is only projected to increase in the future.
The positions listed above are only a few of India's top-paid vocations today. The good news is that this isn't the only option. Commercial pilots, executive chefs, architects, civil servants, full-stack developers, product managers, aeronautical engineers, and web developers all make good money. Work ethic, as well as intelligence, enthusiasm, and attention to detail, are all elements that may assist one in reaching the pinnacle of their field.