The job market has seen a drastic transformation in the last decade. The pandemic has fueled these changes which were already on their way. For example, widespread digitization has influenced all possible sectors and evolved the economic and occupational structures in an unprecedented manner.
Students are often left perplexed after school regarding their stream of choice because of a lack of credible information. In today’s world, money can be earned in many innovative ways if one is updated on the current advancements.
Moreover, there is no dearth of courses as they are offered by multiple online platforms at affordable rates, which can train individuals in no time.
It can be helpful to know the jobs with maximum relevance and pay currently as it can help one take an informed decision regarding his/her career. Given below are the top 5 highest paying jobs in India currently.
5 Highest Paying Jobs in India
Here are the 5 highest paying jobs in India today:
- Data Scientist
- Digital Marketing Expert
- Machine Learning Expert
- Investment Banker
- Chartered Accountant
1. Data Scientist
Shown to undergo a 40 percent increase in demand since 2013, a data scientist’s career is set to blossom exponentially in the near future.
A data scientist is a professional equipped to analyze computer data to make various profit-driven decisions based on that data. This data is analyzed by organizations to solve business problems, meet customer needs, and detect end-user behaviors. Analyzing data is central to any successful business model, and a data scientist is therefore at the heart of successful business endeavors.
● Pay Scale:
Even inexperienced certified data scientists are paid Rs. 4 lakh to Rs. 12 lakh at the very outset. As one develops more experience, the salary increases to a marvelous Rs. 60 lakh to 70 lakhs per annum, making this one of India’s highest paying technology sector jobs.
● Qualifications:
An educational degree in BE/B.Tech is a must. Additionally, specialized courses in data management are bound to fetch an added point. A basic understanding of the various programming languages such as Python and SQL is desirable.
2. Digital Marketing Experts
What makes digital marketing a lucrative profession is not only the payscale but also its proven demand in the market as a relevant field whose importance is only set to increase.
Digital marketing involves a host of positions whose main function is to market or advertise using the digital platform. A digital marketing firm is a network of professionals, each involved with a particular sector. Because digital marketing enfolds a variety of jobs, a person can choose to align themselves with their chosen field. The various roles are SEO analysts, graphic designers, social media managers, data analysts, brand marketing managers, etc.
● Pay Scale:
While freshers can receive anything between Rs. 3 to 6 LPA, more trained and experienced professionals can receive up to Rs. 20-22 lakh per annum.
● Qualifications:
A person can move to this career option having had a bachelor/master in any field whatsoever. But a degree in marketing, mass communications, or related fields will definitely put them at an advantage.
3. Machine Learning Experts
Machine Learning is a field in Artificial Intelligence (AI) that is being implemented across industries, including transport, education, retail, and healthcare. The utilization of Machine Learning and AI is proving to revolutionize the face of business by multiplying efficiency and productivity. According to the latest statistics, the AI sector will show a 33.49% CGR growth between 2018 and 2023.
● Pay Scale:
The upper limit can stretch up to Rs.6-8 lakh for newcomers. For individuals with a decade of experience, a career in Machine Learning and AI can yield up to Rs. 20 lakh per annum.
● Qualifications:
Graduating in Computer Science or other related fields is necessary. Acquiring training specifically in this discipline from among the many online courses can prove an added advantage. With additional skills such as Python and Deep, the candidate will be more likely to receive a higher salary amount.
4. Investment Banker
This is one of the most prominent jobs in the finance sector.This job is known for its high salary value in India and worldwide.
An investment banker is a professional who works for a financial institution and is predominantly concerned with raising capital and ensuring high returns for individuals, governments, or corporations. In a sense, they facilitate complicated transactions and should also possess top-notch verbal and communication skills and the ability to work rigorously.
● Pay Scale:
For freshers, the salary will range from Rs.1-12 LPA, while for experienced professionals, the pay can go as far up as Rs. 30-40 LPA, making it one of the highest paying jobs in India.
● Qualifications:
The concerned individual should have a bachelor’s degree in Economics, Mathematics, Finance, Business Administration, or Business Studies. People with a master’s degree will have the edge over the others.
5. Chartered Accountant
The only national accountant body in India is the ICAI, or Institute of Chartered Accountants of India. Chartered Accountants are employees under this platform. Even though more promising jobs are emerging in the market with each passing day, the glory and return in an occupation such as chartered accountancy has barely worn off.
● Pay Scale:
Beginning salary can vary from Rs. 6-8 LPA, which can rise to Rs. 30 LPA or more depending upon experience, firm, area of practice, etc. As the current situation stands, the demand for CAs in India far exceeds the supply.
Thus, the common logic of economics dictates that the value of CAs will be high under such circumstances. With an increase in the number of tax-payers in our country, the number of accounts worth handling will increase. This will lead to a subsequent rise in demand for chartered accountants. The demand for such a job will therefore never wane.
● Qualifications:
Individuals need to have a graduate or postgraduate degree in Commerce with at least 55 percent marks. The Institute of Chartered Accountants in India regulates all CA courses and admissions. The applicant needs to pass three competency levels for a career in Chartered Accountancy:
- The CPT or Common Proficiency Test
- The Intermediate or IPCC test
- CA final test.
Related Articles: Highest Paying Jobs in the World
Conclusion:
These are the 5 highest paying jobs available in India today. However, it is important to mention that these are not the only jobs that pay well. High-paying jobs are available in many other sectors, such as those of medical professionals, blockchain developers, software engineers, management consultants, lawyers, business associates, and so on.
The above list depicts how the pay scale is independent of the job sector. That is to say, almost all sectors pay well and offer promising and interesting job positions. Therefore, it is crucial to identify the field one feels most inclined to.
A determined and consistent knowledge and experience in that field is bound to take one higher on the ladder. The many certificate courses available today should additionally be used to the fullest advantage to develop hands-on knowledge relating to any field.
