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Accounting and Finance Average Salaries in India 2022

How much money does a person working in Accounting and Finance make in India?


Average Monthly Salary
32,900 INR
( 394,000 INR yearly)

LOW
13,300
INR
AVERAGE
32,900
INR
HIGH
66,000
INR

A person working in Accounting and Finance in India typically earns around 32,900 INR per month. Salaries range from 13,300 INR (lowest average) to 66,000 INR (highest average, actual maximum salary is higher).

This is the average monthly salary including housing, transport, and other benefits. Salaries vary drastically between different Accounting and Finance careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Salaries for specific jobs

Job TitleAverage Salary
Account Examiner16,600 INR
Account Executive28,500 INR
Accountant21,900 INR
Accounting Assistant17,100 INR
Accounting Associate16,200 INR
Accounting Clerk14,300 INR
Accounting Coordinator20,000 INR
Accounting Manager47,500 INR
Accounting Supervisor30,900 INR
Accounting Technician15,700 INR
Accounts Executive28,500 INR
Accounts Payable and Receivable Specialist22,800 INR
Accounts Payable Clerk16,600 INR
Accounts Payable Manager44,200 INR
Accounts Receivable Clerk16,600 INR
Accounts Receivable Manager43,500 INR
Assistant Accounting Manager41,800 INR
Assistant Auditor22,300 INR
Audit Supervisor40,900 INR
Auditing Clerk17,600 INR
Auditing Manager46,600 INR
Billing Coordinator20,400 INR
Billing Specialist23,800 INR
Billing Supervisor34,200 INR
Bookkeeper14,700 INR
Bookkeeping Specialist21,400 INR
Budget Analyst38,500 INR
Budget Manager46,100 INR
Business Support Analyst25,200 INR
Capital Markets Associate33,700 INR
Cash Flow Analyst33,700 INR
Cash Management Officer25,700 INR
Cashbook Clerk15,200 INR
Chartered Accountant28,500 INR
Collections Clerk13,800 INR
Collections Specialist22,800 INR
Corporate Treasurer42,800 INR
Cost Accountant22,600 INR
Cost Accounting Manager44,400 INR
Cost Analyst35,600 INR
Credit and Collection Manager44,700 INR
Credit and Collection Staff17,100 INR
Credit and Loans Officer16,200 INR
Credit Controller30,900 INR
Debt Adviser37,100 INR
Debt Collector18,100 INR
Debtors Clerk15,400 INR
Deputy CFO61,300 INR
Derivative Trader38,500 INR
Escrow Assistant20,000 INR
External Auditor31,400 INR
Finance Associate19,500 INR
Finance Executive47,500 INR
Finance Licensing Clerk16,200 INR
Finance Licensing Manager42,800 INR
Finance Licensing Specialist24,200 INR
Finance Officer21,400 INR
Finance President66,000 INR
Finance Relationship Manager51,800 INR
Finance Release Analyst25,700 INR
Finance Team Leader 49,900 INR
Financial Actuary34,200 INR
Financial Administrator37,100 INR
Financial Analyst40,400 INR
Financial Applications Specialist28,000 INR
Financial Assistant18,100 INR
Financial Associate18,100 INR
Financial Claims Analyst30,200 INR
Financial Claims Manager39,900 INR
Financial Commercial Analyst32,300 INR
Financial Compliance Analyst36,100 INR
Financial Consultant29,900 INR
Financial Controller35,600 INR
Financial Coordinator20,500 INR
Financial Customer Service Manager40,900 INR
Financial Dealer and Broker24,200 INR
Financial Encoder19,000 INR
Financial Manager62,700 INR
Financial Manager62,700 INR
Financial Operations Manager57,000 INR
Financial Policy Analyst34,700 INR
Financial Project Manager46,100 INR
Financial Quantitative Analyst38,500 INR
Financial Reporting Consultant32,300 INR
Financial Reporting Manager42,800 INR
Financial Services Sales Agent24,700 INR
Fixed Assets Administrator23,300 INR
Forensic Accountant26,100 INR
Fraud Detection Supervisor27,600 INR
Fraud Prevention Manager45,600 INR
Fund Accountant21,400 INR
Grants Coordinator16,600 INR
Internal Auditor29,900 INR
Internal Control Adviser35,200 INR
Internal Control Officer19,500 INR
Inventory Accountant23,300 INR
Investment Analyst44,200 INR
Investment Fund Manager49,900 INR
Investment Underwriter19,000 INR
Investor29,000 INR
Investor Relations Manager45,100 INR
KYC Team Leader43,200 INR
Management Economist52,300 INR
Paymaster18,100 INR
Payroll Clerk19,500 INR
Payroll Manager40,900 INR
Pensions Administrator23,800 INR
Pricing Analyst37,100 INR
Private Equity Analyst39,700 INR
Proposal Development Coordinator20,000 INR
Receivables Accountant20,700 INR
Regulatory Accountant24,500 INR
Retirement Plan Analyst35,600 INR
Revenue Management Specialist37,100 INR
Revenue Recognition Analyst41,300 INR
Risk Management Director53,700 INR
Risk Management Supervisor44,200 INR
Tax Accountant21,100 INR
Tax Advisor34,200 INR
Tax Associate19,000 INR
Tax Manager45,600 INR
Teller13,300 INR
Treasury Accountant24,600 INR
Treasury Analyst37,100 INR
Underwriter15,700 INR
Underwriting Assistant14,700 INR
Vice President of Finance61,300 INR

Accounting and Finance Jobs Salary Distribution in India

Median and salary distribution monthly India Accounting and Finance
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The median, the maximum, the minimum, and the range

  • Salary Range

    Accounting and Finance salaries in India range from 13,300 INR per month (minimum average salary) to 66,000 INR per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 32,200 INR per month, which means that half (50%) of people working in Accounting and Finance are earning less than 32,200 INR while the other half are earning more than 32,200 INR. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.

  • Percentiles

    Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of people working in Accounting and Finance are earning less than 20,500 INR while 75% of them are earning more than 20,500 INR. Also from the diagram, 75% of people working in Accounting and Finance are earning less than 48,100 INR while 25% are earning more than 48,100 INR.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
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The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher the wage.

Generally speaking, employees having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.

Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.


Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.

As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.

Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

Salary Comparison By Education

How does the education level affect your salary?

Salary Comparison By Education
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It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income? We compared the salaries of professionals at the same level but with different college degrees levels across many jobs, below are our findings.


Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.

Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a cerificate or diploma.

Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.

Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.


Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in India costs anywhere from 160,000 Indian Rupee(s) to 479,000 Indian Rupee(s) and lasts approximately two years. That is quite an investment.

You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.

Accounting and Finance Salary Comparison By Gender

Salary comparison by gender monthly India Accounting and Finance
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in India who work in Accounting and Finance earn 17% more than their female counterparts on average.

Male
35,600 INR
Female-15%
30,400 INR
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in India for all Careers

Salary comparison by gender monthly India
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Accounting and Finance Average Annual Salary Increment Percentage in India

How much are annual salary increments in India for Accounting and Finance professionals? How often do employees get salary raises?

Accounting and Finance

Accounting and Finance professionals in India are likely to observe a salary increase of approximately 11% every 14 months. The national average annual increment for all professions combined is 9% granted to employees every 16 months.

Annual Salary Increment Rate India Accounting and Finance
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

India / All Professions

The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency

The average salary increase in one year (12 months) in India is 7%.

Annual Increment Rate By Industry 2021

Banking
1%
Energy
2%
Information Technology
3%
Healthcare
4%
Travel
5%
Construction
6%
Education
7%

Listed above are the average annual increase rates for each industry in India for the year 2021. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.


Worldwide Salary Raises: All Countries and All Jobs

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Accounting and Finance Bonus and Incentive Rates in India

How much and how often are bonuses being awarded?Annual Salary Bonus Rate India Accounting and Finance
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Accounting and Finance is considered to be a high bonus-based field due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.

23% of surveyed staff in Accounting and Finance reported that they haven't received any bonuses or incentives in the previous year while 77% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 6% to 8% of their annual salary.

Received Bonus
77%
No Bonus
23%

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

Accounting and Finance Hourly Average Wage in India


190 INR per hour

The average hourly wage (pay per hour) in India is 190 INR. This means that the average person in India earns approximately 190 INR for every worked hour.


Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

Accounting and Finance VS Other Jobs

Salary Comparison Between Accounting and Finance and Accounting and Finance monthly India
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The average salary for Accounting and Finance is 3% more than that of All Jobs.

Salary Comparison By City

CityAverage Salary
agra30,000 INR
Ahmadabad37,000 INR
Bangalore35,600 INR
Bhopal32,500 INR
Chennai34,800 INR
Coimbatore30,800 INR
Delhi37,500 INR
Ghaziabad31,500 INR
Hyderabad38,500 INR
Indore32,800 INR
Jaipur36,500 INR
Kanpur33,600 INR
Kolkata36,000 INR
Lucknow34,000 INR
Ludhiana32,500 INR
Madurai28,900 INR
Mumbai37,700 INR
Nagpur33,600 INR
Patna30,200 INR
Pimpri-Chinchwad32,700 INR
Pune35,000 INR
Surat36,000 INR
Vadodara31,200 INR
Visakhapatnam31,000 INR

Salary Comparison By State

StateAverage Salary
Andaman & Nicobar Islands28,200 INR
Andhra Pradesh36,400 INR
Arunachal Pradesh30,600 INR
Assam35,100 INR
Bihar39,200 INR
Chandigarh29,400 INR
Chhatisgarh34,500 INR
Dadra & Nagar Haveli28,700 INR
Daman & Diu28,100 INR
Delhi33,600 INR
Goa30,600 INR
Gujarat37,100 INR
Haryana34,100 INR
Himachal Pradesh32,700 INR
Jammu & Kashmir33,400 INR
Jharkhand36,200 INR
Karnataka37,600 INR
Kerala36,000 INR
Lakshadweep28,000 INR
Madhya Pradesh38,800 INR
Maharashtra39,500 INR
Manipur32,300 INR
Meghalaya32,000 INR
Mizoram30,300 INR
Nagaland31,700 INR
Orissa36,900 INR
Pondicherry30,700 INR
Punjab35,600 INR
Rajasthan38,800 INR
Sikkim29,700 INR
Tamil Nadu38,500 INR
Tripura33,000 INR
Uttar Pradesh40,700 INR
Uttaranchal33,700 INR
West Bengal39,700 INR

Government vs Private Sector Salary Comparison

Where can you get paid more, working for a private company or for the government? Public sector employees in India earn 5% more than their private sector counterparts on average across all sectors.

Private Sector
31,000 INR
Public Sector+5%
32,700 INR
Percentage increase and decrease are relative to the previous value

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