With India's economy on the rise and the country expected to be the world's most populous by 2050, it might not be too far-fetched to think that salaries might grow. People often wonder to themselves about the highest paying jobs in India and what people are paid. In this article, we take a look at some of the highest paid jobs in India and what the pay looks like.
According to data from professional bodies, roughly one million professionals work as executives in India who earn an average annual salary of ₹223K. In addition, another one million professionals work as consultants who earn an annual salary of approximately ₹122K.
Factors That Affect Salary
There are many factors that go into determining a person's salary. These factors include the company they work for, where they are located, their position and even their skills.
In many Indian cities, the cost of living is very high which is why salaries also vary by location.
For example, in Bengaluru (Southeast Bangalore), an executive in IT can earn ₹345K or more compared to an executive in Goa who earns ₹115K. In addition to salary, benefactors affect the salary as well. For example, a professor who works long hours will earn more than one who works part-time.
This list of the top 10 highest-paid jobs in India will give you an idea of what the cultural changes might look like and how lucrative they could be.
The following list is a compilation of the ten most lucrative jobs in India based on average annual wages.
Doctors & Surgeons:
Doctors & Surgeons, who are also referred to as Medical Practitioners and Physicians, are some of the top earners in India. According to data from Professional bodies, doctors earn an average annual salary of ₹314K. In addition, surgeons earn an average annual salary between ₹325K and ₹389K.
Since they are lifesavers their value is never underrated in most cases as it is seen as a source of life. Many patients have several surgeries performed and can afford to pay for these services.
In India, many doctors choose to open clinics where they provide services from diagnosing illnesses to operating on patients. In addition, many doctors also choose to run their businesses themselves by offering services such as concierge medicine and creating hybrid clinics that combine both the clinic and their own practices including creating telehealth services.
Medical professionals who work in India often work long hours with regulations that restrict them from working more than 55 hours a week. Doctors are not paid based on the number of patients they treat but instead on the amount of time they spend with each patient which differs widely by region throughout India.
Data Scientist:
Data Scientist is another one of the highest paying jobs in India. Data Scientists or data analysts are people who work with large amounts of data to solve complex problems and make decisions based on the results of their research. They often work full-time jobs and then take a part-time job doing data analysis.
The pay for this job depends on the difficulty of the problem they are working with and whether they have access to high-quality equipment to perform their tasks.
Data Scientists tend to earn an average annual salary between ₹195K and ₹246K. Their pay is also affected by their location because it also depends on where they work as well as if they have access to resources like computers, software, databases etc.
Software Architect:
Software architects and developers are in the same category as doctors and surgeons. However, their salaries are in a completely different league. A software architect earns an average of ₹482K per year.
This is mainly because they work with large amounts of data and have to make decisions based on large amounts of information. Their salaries are very dependent on the amount of data they have access to but also their ability to handle this data using the software.
Commercial Pilot:
The next highest paying job in India on the list is commercial piloting. They earn an average annual salary of ₹481K. Pilots are considered excellent workers who provide essential services that enable people to travel safely and efficiently.
In India, this is done by providing transportation services for aeroplanes, helicopters and many more different types of aircraft. Their salaries are very dependent on their location, experience as well as the type of aircraft they are flying.
Product Manager:
Product Managers are in the same category as Data Scientists and Software Architects. They solve complex problems using data analysis and make decisions based on their research. However, their salaries are also dependent on where they work, the amount of data they have access to as well as the difficulty of the project they are working with.
Product managers earn an average annual salary of ₹390K. Their salaries can also depend on their experience levels, the difficulty of projects they've worked on and even their location in India.
Blockchain Developer:
Blockchain developers are a new and essential part of the IT world. They are in a similar category as data scientists, product managers and software architects because they solve complex problems using large amounts of data. However, their salaries are significantly different to all three of these professions with an average annual salary of ₹345K.
Software Engineer:
The last highest paid job in India on this list is another one within the IT industry. Software engineers have jobs that involve working with large amounts of data but it is less complex than the jobs described above.
This profession typically works closely with other people and solves more basic problems such as detecting errors in code or developing new systems that work together with existing programs to accomplish tasks quickly.
Architects:
Architecture is another one of the highest paid jobs in India for its benefits and complexity. Many people tend to view architects as talented artists and visionaries who create beautiful structures that are representative of their culture. They earn an average annual salary of ₹292K.
The architecture profession is divided into different categories based on the type of architectural help they provide. For example, interior designers work within the home, office and retail space to create environments that are functional but also aesthetically pleasing.
This is a relatively new career path in India due to the country only opening its doors to Western interior design techniques in the early 2000s. However, they have spent this time modernising their techniques and incorporating different aspects of Indian culture into their projects rather than just recreating Western designs using Indian materials.
Medical Radiation Technologist:
Medical radiation technologists or radiographers, earn an average annual salary of ₹365K. In addition to their regular pay, they also receive special bonuses for working in remote areas.
This is because they are limited in the number of hours they are allowed to work each week due to safety regulations and most medical centres in remote areas do not have access to radiographers with the right type of training.
Therefore, many of them will travel for a single day at a time to provide their services. They are also often required to stay at these clinics overnight or work during standard holidays because the doctors treating patients there are typically not trained with any sort of radiation procedures.
Pharmacist:
The next highest paying job on this list is pharmacist which pays an average annual salary of ₹270K. In India, the pharmacist profession is divided into two separate groups.
The first group, which is economic pharmacists, are involved in the activities related to bulk processing and packaging of medicines. The second group, which is pharmaceutical technologists, is involved in activities related to drug manufacturing and quality control as well as research on new drugs.
Conclusion
Data Analysts, Product Managers and Software Engineers are three of the highest paid jobs in India. Data scientists and software engineers are both extremely important members of the IT industry who are involved in solving complex problems using large amounts of data.
However, their salaries vary based on where they work as well as their location in India and the type of projects they work on.
FAQs
Which professions are among the highest paying jobs in India?
Some high-paying professions in India are Doctors, IT Engineers, Software Engineers and a lot more.
Are high-paying jobs accessible to any professional in India?
High-paying jobs are very much accessible in some selected areas of professional expertise more than others.