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Accounting and Finance Average Salaries in India 2024

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


Average Monthly Salary
33,100 INR
( 398,000 INR yearly)

LOW
13,300
INR
AVERAGE
33,100
INR
HIGH
66,000
INR
All salary figures displayed here are per month except when noted otherwise.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

A person working in Accounting and Finance in India typically earns around 33,100 INR. Salaries range from 13,300 INR (lowest average) to 66,000 INR (highest average, actual maximum salary is higher).


Salary Variance

The provided figure represents the median compensation that encompasses housing, transportation, and other perks. The salaries within the Accounting and Finance domain in India exhibit significant discrepancies across various professions. In case you seek information about the remuneration of a specific position, please refer to the salaries listed below for respective job titles.

Salaries for specific jobs

Job TitleAverage Salary
Accounting and Finance
Account Examiner16,600 INR
Account Executive28,500 INR
Accountant21,900 INR
Accounting Analyst27,600 INR
Accounting Assistant17,100 INR
Accounting Associate16,200 INR
Accounting Clerk14,300 INR
Accounting Coordinator20,000 INR
Accounting Head45,100 INR
Accounting Manager47,500 INR
Accounting Officer16,600 INR
Accounting Specialist30,400 INR
Accounting Supervisor30,900 INR
Accounting Technician15,700 INR
Accounting Unit Controller37,500 INR
Accounts Executive28,500 INR
Accounts Officer17,600 INR
Accounts Payable and Receivable Specialist22,800 INR
Accounts Payable Assistant18,100 INR
Accounts Payable Associate20,400 INR
Accounts Payable Clerk16,600 INR
Accounts Payable Manager44,200 INR
Accounts Receivable Administrator32,800 INR
Accounts Receivable Clerk16,600 INR
Accounts Receivable Financial Analyst31,400 INR
Accounts Receivable Manager43,500 INR
Accounts Receivable Team Leader32,800 INR
Algorithmic Trading Specialist39,400 INR
Assistant Accountant17,100 INR
Assistant Accounting Manager41,800 INR
Assistant Auditor22,300 INR
Assistant Corporate Controller30,400 INR
Assistant Finance Manager46,600 INR
Assistant Financial Controller30,400 INR
Audit Director51,300 INR
Audit Supervisor40,900 INR
Auditing Clerk17,600 INR
Auditing Manager46,600 INR
Billing Clerk17,100 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 Manager44,200 INR
Cash Management Officer25,700 INR
Cashbook Clerk15,200 INR
Chartered Accountant28,500 INR
Chief Accountant33,300 INR
Chief Financial Technology Officer46,600 INR
Collections Clerk13,800 INR
Collections Representative19,500 INR
Collections Specialist22,800 INR
Corporate Controller35,600 INR
Corporate Treasurer42,800 INR
Cost Accountant22,600 INR
Cost Accounting Manager44,400 INR
Cost Accounting Supervisor36,100 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
Credit Manager46,600 INR
Debt Adviser37,100 INR
Debt Collector18,100 INR
Debtors Clerk15,400 INR
Debtors Controller16,600 INR
Deputy CFO61,300 INR
Deputy Head of Finance61,300 INR
Derivative Trader38,500 INR
Director of Finance66,000 INR
E-commerce Accountant23,300 INR
Economist52,300 INR
Equity Analyst39,700 INR
Escrow Assistant20,000 INR
Executive Accountant25,200 INR
External Auditor31,400 INR
Finance Administrator26,100 INR
Finance Analyst40,400 INR
Finance Associate19,500 INR
Finance Data Analyst36,100 INR
Finance Director66,000 INR
Finance Executive47,500 INR
Finance Licensing Clerk16,200 INR
Finance Licensing Manager42,800 INR
Finance Licensing Specialist24,200 INR
Finance Manager62,700 INR
Finance Officer21,400 INR
Finance President66,000 INR
Finance Relationship Manager51,800 INR
Finance Release Analyst25,700 INR
Finance Specialist37,100 INR
Finance Team Leader 49,900 INR
Financial Accountant22,300 INR
Financial Actuary34,200 INR
Financial Administrator37,100 INR
Financial Advisor40,600 INR
Financial Analyst40,400 INR
Financial Applications Specialist28,000 INR
Financial Assistant18,100 INR
Financial Associate21,400 INR
Financial Associate18,100 INR
Financial Claims Analyst30,200 INR
Financial Claims Manager39,900 INR
Financial Claims Supervisor37,100 INR
Financial Clerk17,100 INR
Financial Commercial Analyst32,300 INR
Financial Compliance Analyst36,100 INR
Financial Compliance Officer35,400 INR
Financial Consultant29,900 INR
Financial Controller35,600 INR
Financial Controller35,600 INR
Financial Coordinator20,500 INR
Financial Customer Service Manager40,900 INR
Financial Data Scientist41,600 INR
Financial Dealer and Broker24,200 INR
Financial Director66,000 INR
Financial Encoder19,000 INR
Financial Manager62,700 INR
Financial Manager62,700 INR
Financial Modelling Analyst40,100 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 Section Head42,800 INR
Financial Services Manager57,000 INR
Financial Services Sales Agent24,700 INR
Financial Technology Consultant35,200 INR
Financial Wellness Coach45,800 INR
FinTech Analyst38,500 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
Green Finance Analyst34,000 INR
Group Financial Manager64,100 INR
Internal Auditor29,900 INR
Internal Control Adviser35,200 INR
Internal Control Officer19,500 INR
International Tax Director54,200 INR
Inventory Accountant23,300 INR
Investment Advisor59,900 INR
Investment Analyst44,200 INR
Investment Associate37,500 INR
Investment Broker37,500 INR
Investment Fund Manager49,900 INR
Investment Operations Manager49,900 INR
Investment Underwriter19,000 INR
Investor29,000 INR
Investor Relations Manager45,100 INR
KYC Team Leader43,200 INR
Loan Processor18,500 INR
Management Accountant24,900 INR
Management Economist52,300 INR
Paymaster18,100 INR
Payroll Administrator29,500 INR
Payroll Benefits Coordinator24,700 INR
Payroll Billing Manager40,900 INR
Payroll Clerk19,500 INR
Payroll Manager40,900 INR
Payroll Officer19,500 INR
Payroll Specialist23,300 INR
Payroll Supervisor28,500 INR
Pensions Administrator23,800 INR
Personal Financial Advisor33,300 INR
Pricing Analyst37,100 INR
Private Equity Analyst39,700 INR
Project Accountant23,800 INR
Proposal Development Coordinator20,000 INR
Quantitative Trader32,100 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
Staff Accountant21,400 INR
Tax Accountant21,100 INR
Tax Administrator24,200 INR
Tax Advisor34,200 INR
Tax Analyst34,200 INR
Tax Associate19,000 INR
Tax Consultant35,600 INR
Tax Director51,800 INR
Tax Examiner23,800 INR
Tax Manager45,600 INR
Tax Research 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 Pay Scale and Salaries in India

Median and salary distribution India Accounting and Finance monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
34,000 INR or more
10% of people earn
28,800 to 34,000 INR
20% of people earn
17,300 INR or less
65% of people earn
17,300 to 28,800 INR
Minimum Salary
13,300 INR
Median
29,900 INR
Maximum
66,000 INR




Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range

All salary figures displayed here are per month except when noted otherwise.
  • Salary Range, Minimum Wage, and Starting Salary

    Salaries in Accounting and Finance in India range from 13,300 INR (starting average salary) to 66,000 INR (maximum average salary, actual maximum is higher). To clarify, the number presented is not the legally mandated minimum wage. Rather, it represents the lowest figure reported in a salary survey that involved thousands of participants and professionals from across the entire country.

  • Median Salary

    The median income in the field of Accounting and Finance is 29,900 INR, implying that half of the workforce in India earns less than this figure, and the other half earns more. It represents the central value of salaries. As a rule of thumb, you would prefer to be part of the group earning above the median wage, situated on the right-hand side of the salary distribution chart.

  • Percentiles and Salary Scale

    Two values that are highly correlated with the median are the 25th and 75th percentiles. By examining the salary distribution diagram, it is possible to determine that 25% of individuals employed in Accounting and Finance in India earn less than 23,400 INR, while 75% of them earn more. Additionally, the diagram reveals that 75% of individuals earn less than 36,100 INR, while 25% earn more than that.

  • Pay Scale Structure

    Data was regrouped into brackets to provide a better understanding of what salaries can be expected. This approach was deemed more accurate than relying solely on the average salary, as it offers greater insights into the distribution of salaries in the field of Accounting and Finance in India. The analysis revealed that roughly 65% of all reported salaries fell within the range of 17,300 INR to 28,800 INR. Approximately 20% of salaries were below the 17,300 INR mark, while 10% ranged from 28,800 INR to 34,000 INR. Only 5% of individuals earned a gross salary of 34,000 INR or higher.

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 in Accounting and Finance in India 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.


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.
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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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.

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 degree levels across many jobs in Accounting and Finance in India, 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 certificate 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 INR to 481,000 INR and lasts approximately two years. That is quite an investment.

Employees can't expect any salary increases during the study period, assuming they 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 to 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 the situation and experience among many other factors. Putting all variables aside, if a person can afford the costs of higher education then the return on investment is definitely worth it. Degree costs can be recovered roughly in a year or so.



Salary and Compensation Comparison By Gender / Accounting and Finance / India

Salary comparison by gender India Accounting and Finance monthly
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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? In the field of Accounting and Finance in India, the average difference between the salary of male and female employees is 17%.

Male
35,900 INR
Female-15%
30,600 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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Average Annual Salary Increment Percentage / Accounting and Finance / India

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

Professionals working in Accounting and Finance 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

Annual Salary Increment Rate India
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The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare 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%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
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Salary Packages and Schemes

Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.

Bonus and Incentive Rates / Accounting and Finance / India

How much and how often are bonuses being awarded?Annual Salary Bonus Rate India Accounting and Finance
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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.

Hourly Average Wage / Accounting and Finance / India


190 INR per hour

The average hourly wage (pay per hour) in Accounting and Finance in India is 190 INR.This is the rate they get paid for every worked hour.


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

About The Hourly Pay Rate

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 fixed 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.

What is the minimum hourly rate of pay?

The minimum pay rate per hour for people working in Accounting and Finance in India is 77 INR. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary Comparison By City

CityAverage Salary
agra30,200 INR
Ahmadabad37,300 INR
Bangalore35,900 INR
Bhopal32,800 INR
Chennai35,000 INR
Coimbatore31,100 INR
Delhi37,800 INR
Ghaziabad31,700 INR
Hyderabad38,800 INR
Indore33,100 INR
Jaipur36,800 INR
Kanpur33,900 INR
Kolkata36,300 INR
Lucknow34,300 INR
Ludhiana32,800 INR
Madurai29,100 INR
Mumbai38,000 INR
Nagpur33,900 INR
Patna30,500 INR
Pimpri-Chinchwad33,000 INR
Pune35,300 INR
Surat36,300 INR
Vadodara31,400 INR
Visakhapatnam31,200 INR

Salary Comparison By State

StateAverage Salary
Andaman & Nicobar Islands28,400 INR
Andhra Pradesh36,700 INR
Arunachal Pradesh30,900 INR
Assam35,400 INR
Bihar39,500 INR
Chandigarh29,600 INR
Chhatisgarh34,800 INR
Dadra & Nagar Haveli29,000 INR
Daman & Diu28,300 INR
Delhi33,900 INR
Goa30,800 INR
Gujarat37,400 INR
Haryana34,300 INR
Himachal Pradesh33,000 INR
Jammu & Kashmir33,700 INR
Jharkhand36,500 INR
Karnataka37,900 INR
Kerala36,200 INR
Lakshadweep28,300 INR
Madhya Pradesh39,100 INR
Maharashtra39,800 INR
Manipur32,500 INR
Meghalaya32,200 INR
Mizoram30,500 INR
Nagaland31,900 INR
Orissa37,200 INR
Pondicherry30,900 INR
Punjab35,900 INR
Rajasthan39,100 INR
Sikkim30,000 INR
Tamil Nadu38,800 INR
Tripura33,200 INR
Uttar Pradesh41,100 INR
Uttaranchal34,000 INR
West Bengal40,000 INR

Government vs Private Sector Salary Comparison

Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in India is 5% on average across all career fields.

Private Sector
31,100 INR
Public Sector+5%
32,800 INR
Percentage increase and decrease are relative to the previous value

Salary Statistics and Calculation Guide

What is considered to be a good and competitive salary in Accounting and Finance in India?

A good and competitive compensation would range anywhere between 29,900 INR and 36,100 INR. This is a very rough estimate. Experience and education play a very huge part in the final earnings.

Gross Salary (before tax) and Net Salary (after tax)

All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

Base / Basic Salary

The base salary for jobs in Accounting and Finance in India ranges from 13,300 INR to 23,400 INR. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.


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

Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn 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


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