An auditor is a skilled professional who is qualified to examine financial documents, confirm their accuracy, and make sure companies are following tax regulations. The auditor's responsibility is to provide a professional opinion on various financial statements. An Auditor reviews and audits an association's financial report to improve member accountability and guarantee that all the money that has been received by the organization has been properly accounted for. The average salary of an Auditor is INR 3.10 LPA, which rises with gradual experience, updated skills, knowledge and expertise. The sections below will discuss the various determining factors of the salary of an Auditor.
To become an Auditor, aspiring candidates can pursue UG and PG Finance Courses such as BCom Finance or MCom Finance, and even an MBA in Finance. Apart from these, there are other courses as well, that can be pursued right after clearing class 12 board exams such as Chartered Accountants and Cost Accountants and choosing to become a Chartered Accountant other than making a career as an Auditor. Read More: Salary of a CA
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Auditor Salary in India
The average salary of an Auditor in India usually ranges from INR 3.11 LPA - 5.82 LPA. While the starting salary and the highest salary of an Auditor are INR 2.70 LPA and 23.39 LPA, which is the salary of a Bank Auditor. The average salary of an RBI Auditor is INR 13.07 LPA, while the highest salary of an RBI Auditor is INR 19.06 LPA. Auditors can also work as Chartered Accountants across various financial institutions and earn an average salary of INR 6.20 LPA - 14.5 LPA.
Some of the top recruiters that hire Auditors for both private and public sector organizations are the Reserve Bank of India, Allahabad Bank, HSBC, HDFC Bank and other banks and financial institutions.
Salary of an Auditor: Experience Wise
Experience plays an important role in determining the salary of an Auditor. The more years of experience gained, the better the salary structure of the concerned professional. Tabulated below is the average salary of an Auditor on the basis of relevant years o experience gained.
| Years of Experience | Average Annual Salary (INR) |
|---|---|
| 0 - 5 years | 5.11 L |
| 6 - 10 years | 9.34 L |
| 11 - 15 years | 13 L |
| 16 - 20 years | 17.20 L |
| 20 years and above | 23 L and above |
Salary of an Auditor: Designation Wise
The salary structure of an Auditor varies across the positions and designations that they work for. Lower designations specifically the fresher positions usually fall under a less salary bracket as compared to experience and senior designations.
Tabulated below is the average salary of an Auditor across various designations.
| Designations | Average Annual Salary (INR) |
|---|---|
| Audit Assistant | 2.40 L |
| Accountant | 2.50 L |
| Accounts Officer | 3.60 L |
| Analyst | 5 L |
| Senior Associate | 5.40 L |
| Senior Analyst | 6.20 L |
Salary of an Auditor: Skill Wise
To become an experienced, skilled and professional Auditor, one must inculcate certain skills related to the profession. It is a well-known fact that a degree might give theoretical knowledge about the subject but experience and updated skills would eventually add on as pro points that would help an Auditor outgrow their expertise.
Tabulated below is the skill-wise salary of an Auditor.
| Skill Sets | Average Annual Salary (INR) |
|---|---|
| Accounting | 3 L |
| Internal Audit | 3.30 L |
| MS Office | 3.70 L |
| Finance | 4.90 L |
| Auditing | 5.20 L |
| Cisa | 9.20 L |
| Risk Management | 9.90 L |
| Compliance | 10.3 L |
Salary of an Auditor: Qualification Wise
Candidates aspiring to become an Auditor can pursue Diploma, UG, PG and PhD courses as per their convenience. However, there is a salary specification for candidates for different degrees pursued. Tabulated below is the qualification-wise salary of Auditors in India.
| Degrees Pursued | Average Annual Salary (INR) |
|---|---|
| Diploma | 2.40 L |
| Bachelor’s | 6 L |
| Master’s | 8.50 L |
| PhD | 14 L |
Salary of an Auditor: Company Wise
Auditors are placed across both government jobs and private jobs. The salary for each sector varies from one another along with the perks that a government employee gets, differ hugely from that of a private sector employee.
Tabulated below is the average salary of an Auditor based on the company that they are working for.
| Name of the Companies | Average Annual Salary (INR) |
|---|---|
| Karnavat & Co. | 2 L |
| Nielsen | 2.50 L |
| PrGX India | 2.70 L |
| Cotiviti | 5.20 L |
| Ernst & Young | 6.90 L |
| KPMG | 7.60 L |
| Deloitte | 7.80 L |
Salary of an Auditor: City Wise
The salary of an Auditor is also dependant on the city or the place that one is residing in. Auditors residing in top metro cities are paid comparatively more than Auditors who live on the outskirts of the city or suburbs. The cost of living and daily expenditure are the parameters that are judged while deciding the salary of an Auditor.
Tabulated below is the salary of an Auditor across various cities.
| Cities | Average Annual Salary (INR) |
|---|---|
| Pune | 2.84 L |
| Gurgaon | 3.45 L |
| Kolkata | 4.17 L |
| Ahmedabad | 5.07 L |
| Delhi | 5.09 L |
| Bengaluru | 5.52 L |
| Hyderabad | 5.60 L |
| Mumbai | 6.03 L |
| Chennai | 6.42 L |
Salary of an Auditor: FAQs
Ques. What is the salary of an Auditor in India?
Ans. The salary of an auditor in India ranges from INR 3.11 LPA - 5.82 LPA.
Ques. What are the top-paying companies that employ an auditor?
Ans. Some of the top paying companies who employ auditors are,
- KPMG
- Deloitte
- Cotiviti
- Ernst & Young
Ques. What is the starting salary of an auditor in India?
Ans. The starting salary of an auditor in India is INR 2.70 LPA.
Ques. What is the highest salary of an auditor in India?
Ans; The highest salary of an auditor in India can go up to INR 19.39 LPA - 23 LPA, which is usually received by the senior most designated professionals.
Ques. How does the auditor salary in India change with experience?
Ans. An entry-level position salary for an Auditor usually comes within the salary bracket of INR 2.50 LPA - 2.70 LPA, while senior management salary can go up to INR 23 LPA, with gradual experience, expertise and knowledge.
Ques. What are the top-paying industries for Audit in India?
Ans. The top-paying industries in Audit are as follows,
- Accounting
- Financial Services
- IT
- Banking
Ques. What are the top-paying cities for auditors in India?
Ans. The top-paying cities for auditors in India are,
- Chennai
- Mumbai
- Hyderabad
- Bengaluru
- Delhi
Ques. What are the top skills required to become an auditor?
Ans. The top required skill sets to become an auditor are,
- Compliance
- Risk Management
- Auditing
- Finance
- MS Office
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