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.
|Job Title||Average Salary|
|Account Examiner||16,600 INR|
|Account Executive||28,500 INR|
|Accounting Assistant||17,100 INR|
|Accounting Associate||16,200 INR|
|Accounting Clerk||14,300 INR|
|Accounting Coordinator||20,000 INR|
|Accounting Manager||47,500 INR|
|Accounting Supervisor||30,900 INR|
|Accounting Technician||15,700 INR|
|Accounts Executive||28,500 INR|
|Accounts Payable and Receivable Specialist||22,800 INR|
|Accounts Payable Clerk||16,600 INR|
|Accounts Payable Manager||44,200 INR|
|Accounts Receivable Clerk||16,600 INR|
|Accounts Receivable Manager||43,500 INR|
|Assistant Accounting Manager||41,800 INR|
|Assistant Auditor||22,300 INR|
|Audit Supervisor||40,900 INR|
|Auditing Clerk||17,600 INR|
|Auditing Manager||46,600 INR|
|Billing Coordinator||20,400 INR|
|Billing Specialist||23,800 INR|
|Billing Supervisor||34,200 INR|
|Bookkeeping Specialist||21,400 INR|
|Budget Analyst||38,500 INR|
|Budget Manager||46,100 INR|
|Business Support Analyst||25,200 INR|
|Capital Markets Associate||33,700 INR|
|Cash Flow Analyst||33,700 INR|
|Cash Management Officer||25,700 INR|
|Cashbook Clerk||15,200 INR|
|Chartered Accountant||28,500 INR|
|Collections Clerk||13,800 INR|
|Collections Specialist||22,800 INR|
|Corporate Treasurer||42,800 INR|
|Cost Accountant||22,600 INR|
|Cost Accounting Manager||44,400 INR|
|Cost Analyst||35,600 INR|
|Credit and Collection Manager||44,700 INR|
|Credit and Collection Staff||17,100 INR|
|Credit and Loans Officer||16,200 INR|
|Credit Controller||30,900 INR|
|Debt Adviser||37,100 INR|
|Debt Collector||18,100 INR|
|Debtors Clerk||15,400 INR|
|Deputy CFO||61,300 INR|
|Derivative Trader||38,500 INR|
|Escrow Assistant||20,000 INR|
|External Auditor||31,400 INR|
|Finance Associate||19,500 INR|
|Finance Executive||47,500 INR|
|Finance Licensing Clerk||16,200 INR|
|Finance Licensing Manager||42,800 INR|
|Finance Licensing Specialist||24,200 INR|
|Finance Officer||21,400 INR|
|Finance President||66,000 INR|
|Finance Relationship Manager||51,800 INR|
|Finance Release Analyst||25,700 INR|
|Finance Team Leader||49,900 INR|
|Financial Actuary||34,200 INR|
|Financial Administrator||37,100 INR|
|Financial Analyst||40,400 INR|
|Financial Applications Specialist||28,000 INR|
|Financial Assistant||18,100 INR|
|Financial Associate||18,100 INR|
|Financial Claims Analyst||30,200 INR|
|Financial Claims Manager||39,900 INR|
|Financial Commercial Analyst||32,300 INR|
|Financial Compliance Analyst||36,100 INR|
|Financial Consultant||29,900 INR|
|Financial Controller||35,600 INR|
|Financial Coordinator||20,500 INR|
|Financial Customer Service Manager||40,900 INR|
|Financial Dealer and Broker||24,200 INR|
|Financial Encoder||19,000 INR|
|Financial Manager||62,700 INR|
|Financial Manager||62,700 INR|
|Financial Operations Manager||57,000 INR|
|Financial Policy Analyst||34,700 INR|
|Financial Project Manager||46,100 INR|
|Financial Quantitative Analyst||38,500 INR|
|Financial Reporting Consultant||32,300 INR|
|Financial Reporting Manager||42,800 INR|
|Financial Services Sales Agent||24,700 INR|
|Fixed Assets Administrator||23,300 INR|
|Forensic Accountant||26,100 INR|
|Fraud Detection Supervisor||27,600 INR|
|Fraud Prevention Manager||45,600 INR|
|Fund Accountant||21,400 INR|
|Grants Coordinator||16,600 INR|
|Internal Auditor||29,900 INR|
|Internal Control Adviser||35,200 INR|
|Internal Control Officer||19,500 INR|
|Inventory Accountant||23,300 INR|
|Investment Analyst||44,200 INR|
|Investment Fund Manager||49,900 INR|
|Investment Underwriter||19,000 INR|
|Investor Relations Manager||45,100 INR|
|KYC Team Leader||43,200 INR|
|Management Economist||52,300 INR|
|Payroll Clerk||19,500 INR|
|Payroll Manager||40,900 INR|
|Pensions Administrator||23,800 INR|
|Pricing Analyst||37,100 INR|
|Private Equity Analyst||39,700 INR|
|Proposal Development Coordinator||20,000 INR|
|Receivables Accountant||20,700 INR|
|Regulatory Accountant||24,500 INR|
|Retirement Plan Analyst||35,600 INR|
|Revenue Management Specialist||37,100 INR|
|Revenue Recognition Analyst||41,300 INR|
|Risk Management Director||53,700 INR|
|Risk Management Supervisor||44,200 INR|
|Tax Accountant||21,100 INR|
|Tax Advisor||34,200 INR|
|Tax Associate||19,000 INR|
|Tax Manager||45,600 INR|
|Treasury Accountant||24,600 INR|
|Treasury Analyst||37,100 INR|
|Underwriting Assistant||14,700 INR|
|Vice President of Finance||61,300 INR|
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).
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.
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
The main two types of jobs
|Revenue Generators||Supporting 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.
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.
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.
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.
The average salary for Accounting and Finance is 3% more than that of All Jobs.
|Andaman & Nicobar Islands||28,200 INR|
|Andhra Pradesh||36,400 INR|
|Arunachal Pradesh||30,600 INR|
|Dadra & Nagar Haveli||28,700 INR|
|Daman & Diu||28,100 INR|
|Himachal Pradesh||32,700 INR|
|Jammu & Kashmir||33,400 INR|
|Madhya Pradesh||38,800 INR|
|Tamil Nadu||38,500 INR|
|Uttar Pradesh||40,700 INR|
|West Bengal||39,700 INR|
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.