Top 7 high paying job profiles in India
A career that leads to a luxurious & stable life with peace of mind is a dream which everyone wants to come true.
It doesn’t matter if you are an under-graduation student or doing a Post-graduation, the idea of a high paying job always crosses your mind.
Many people have a misconception that high earning is possible only if you run a business, which is not necessarily true.
You will be surprised to know that certain jobs can fetch you a salary of a few lakhs a month if you are good at it. If you are the one looking for a better-paying job, then we have picked top paying profile.
1. Actuarial Sciences:
Generally, actuaries work for insurance companies in full-time office settings. It is the application of mathematics and statistics to assess the risk associated with the subject under consideration. For example, the subject can be a person who has applied for life insurance or an asset/property applying for fire insurance.
The typical job description of an Actuary is to develop insurance policies, determines the price, evaluate the risks and rewards for insurance products.
A simple example can be health insurance wherein the Actuaries will study the insurance application and will try to evaluate the risk profile of the applicant based on her/his medical records. Depending on the risk profile of the applicant, actuaries will determine the premium of the insurance policy or even reject the application.
There are a total of 15 papers in the Actuaries exam and a person with a strong liking for statistics and mathematics is recommended to take up Actuaries as a profession. The graduates after a series of exams can become certified professionals. A newly qualified actuary can earn 15-20 lakh annually right at the start of their career.
2. Digital Marketing:
Digital Marketing is taking the world by storm and every company is re-strategizing their marketing activities around digital channels like social media, e-mail, etc.
The easy streaming of content online has shifted the interest of consumers from traditional mediums like TV to digital platforms and so has marketing. The rise in consumption of digital content is such that companies are now invariably dedicating a huge budget to digital marketing activities.
To be a digital marketer one has to have hands-on experience on various channels like Facebook Ads, Google Ads, E-mail marketing, Search Engine Optimization, Search Engine Marketing to start with. As you grow you will also find niches like Twitter marketing, Linkedin marketing, etc.
If you have to start in this field, initially focus on learning only one particular skill like SEO or Facebook ads or Google Ads. Do not start by learning everything at once as it is a vast field and evolving every day.
The job of a digital marketer is completely skilled-based and there is no formal education yet in the digital marketing space. You can simply start by learning online any skill of your choice. There is no limit to learn in digital marketing and hence you should have a clear focus on what to learn first.
From the type of industry and the different skills being deployed, Digital Marketing Managers are easily earning anything between 7-10 lakh per annum. However, you have to remember that entry-level salaries are not that great. You can expect good earnings only with some experience.
To succeed in this field you should be highly adaptive to changing environments as the tools and techniques in this space are changing rapidly.
One distinct feature of jobs in this sector is you need not be a part of an in-house team; one can easily freelance with the above skills.
3. Investment Banking:
It has always been one of the best jobs in India and dealing with money all the time gets you a better acumen for personal investments as well. A complete win-win as it is also one of the highest-paying jobs.
An investment banker helps clients in making better and informed investment-related decisions to lessen the lost chances and get the best possible returns for them.
Good command of statistics and strong research and analytical skills are a must. One has to be always aware of the latest trends as the field is highly dynamic. Convincing businesses to invest in special spheres also require good interpersonal, verbal, and presentation skills. Most students opt for MBA in finances and then specialize in investment banking.
For the fresher, the annual pay ranges between 10-12 LPA but mid-career and experienced IBs are easily earning up to 30LPA.
However, the high paying investment banking jobs are offered to top B-School graduates only. Candidates from IIMs, XLRI, FMS, ISB, and a few other regional MBA colleges will always be the obvious choice for any company to hire investment bankers.
However, some candidates are doing great in the investment banking field even after studying from Tier 3 B schools.
If this opportunity excites you, I would recommend you to take the CAT exam and try to get into premium B-schools.
4. Data Analysis:
A data analyst manages and organizes a huge amount of data that an organization gathers and analyzing them gets the actionable insights to drive business decisions that improve the performance, client relationships, and profits.
There has been a more than 300% rise in demand in this profession since 2013 and a 40% rise is still being witnessed after 2019.
Any graduate (engineering preferred) can opt for a PG Diploma, with an ability to work with complex formulae, business acumen, having an understanding of the client’s psychology, and skills in using programming languages.
The entry-level data scientists easily get 5 LPA salaries but those with 5-year experience and easily getting around 5 times than this on average.
5. Corporate trainer:
A corporate trainer has a very crucial task of improving the performance of corporate employees.
It involves educating a group of employees in the business environment by disseminating the right knowledge and imparting skills related to the business process. If you like to work in perfect corporate culture, love a teaching role, and would like to contribute to someone’s career, the corporate trainer should be your first choice.
Based on your interest you should pick-up a niche to start with. There are various niches in corporate training like personality development, leadership development, sales professional development, image makeover, business etiquettes to name a few.
Every niche will have different modules as per the functionality. For example, in personality development, you will have soft skills, interview skills, public speaking, problem-solving skills, etc. Certain modules like soft skills training, business etiquettes, sales process, design thinking are in great demand irrespective of the industry.
A successful corporate trainer is the one who likes to talk and interact with people. If you do not enjoy interacting with new people and contributing to their life, your success in this field will be limited.
Having a master's degree in Human Resources management and knowledge of psychology can be a good start for this job. At starting the corporate trainer gets 4-6 Lac per annum, which surely increases exponentially with experience.
6. Merchant Navy:
Merchant Navy jobs can be broadly classified into officer level and non-officer level category where the officer cadres enjoy very good pay in comparison to the jobs at land. It is not only high- paying but also full of adventure and glamour for those who love to travel around the world.
To get into the Merchant Navy as an officer you have two choices �’ engine side and deck side. The Deck side is also known as the navigation side.
To start the career at the engine side one has to finish a 4 year Marine engineering course from any institute affiliated with Indian Maritime University and the exam for the same is IMU-CET. After finishing the Marine Engineering course, you start your career as an oiler. The job on the engine side is more of an engineering job where you as a candidate will do everything about the engine, pumps, piping, turbine of the ship.
To start a career on the Deck side, you have to study either BSc nautical science or Diploma in Nautical Science. Merchant Navy officers go on ships for a long time varying from 6 months to 9 months in a year.
It provides an easy opportunity to visit exotic places around the globe. There are non-officer jobs too in Merchant Navy and the candidate has to take some short term courses to be eligible for such jobs.
Though the pay structure differs from company to company and also the qualification & posts, the salary may range between 12000 to 8 lakh per month! The starting salary of a Junior Engineer or a Deck Cadet can be around 35,000 per month while the Chief engineer at sea generally gets around 1.5to 2 lakh per month.
7. Software development field:
In a broader sense, the software development includes all that is involved between envisaging the desired software to the final manifestation in a planned and structured process. In addition to various types of mobile, computer, and web-based applications, underlying embedded tools for the operating systems and the hardware also come under this category.
A bachelor's degree in computer science and good coding skills are required to get a job in the field. An entry-level graduate easily gets 4-5 LPA in software development while the greater skills and knowledge help in getting 12-15 LPA on average in India.
To be noted:
Salaries in all the industries are subjected to various factors like company level, skills, experience, knowledge, and past successful projects. Not only salary at the moment, but also the job growth, and security made a career attractive. For example, the digital marketer in a core firm offering digital marketing services will be earning more than a person deployed for digital marketing of an educational institute. The growth prospects are better in the core company so this factor must also be taken into consideration.
[H1]As per the information furnished by India Education after interviewing a newly selected person in the field:
https://www.indiaeducation.net/careercenter/professional-courses/actuarial-science/