Finance Managers are qualified and skilled professionals who are in charge of financial management duties for an organisation. To ensure long-term success, Finance Managers share exact data analysis and offer top management profit-maximizing suggestions. The average salary of Finance Managers usually ranges from INR 9.33 LPA - 12.50 LPA. The sections below will discuss in detail the salary of a Finance Manager across various parameters and crucial factors determining the Finance Manager Salary.
To become a Finance Manager, aspiring candidates can pursue Diploma, Undergraduate and Postgraduate Finance Courses such as BCom Finance, MCom Finance, BBA Finance and MBA Finance. Apart from the regular degree courses, candidates can also choose to pursue various online certifications such as Certified Financial Planner (CFP), Chartered Financial Analyst (CFA), Certified Management Accountant and many more. Admissions across any top MBA Finance courses are done on the basis of Management Entrance Exams such as CAT, SNAP, XAT and NMAT. For other degree courses candidates are enrolled on the basis of merit as well as other university-level entrance exams such as BHUPET, CUET and PU CET.
Table of Content
Finance Manager Salary in India
As already discussed above, the average salary of a Finance Manager in India usually ranges from INR 9.33 LPA - 12.50 LPA. While the average monthly salary of a Finance Manager ranges from INR 88,513 - INR 90,836. The highest salary recorded of a Finance Manager is INR 30 LPA, which is usually the salary bracket for senior management officials such as Finance Directors and Chief Finance Officers.
Some of the top Finance Management recruiters in India are SBI Mutual Funds, ICICI Prudential, IIFL, JP Morgan and Chase, Morgan Stanley, and Goldman Sachs.
Finance Manager Salary: Experience Wise
For any career, including Finance Manager, experience is one of the most crucial determining factors in terms of pay packages. More years of relevant and substantial experience would help the candidate gain sufficient knowledge and expertise about their job roles that would eventually make them reach a position where they can negotiate a salary as per their choice and will.
Tabulated below is the experience-wise salary of a Finance Manager.
| Years of Experience | Average Annual Salary (INR) |
|---|---|
| 0 - 5 years | 4.80 L |
| 6 - 10 years | 9.33 L |
| 11 - 15 years | 14.01 L |
| 16 - 20 years | 17 L |
| 20 years and above | 22.54 L and above |
Finance Manager Salary: Designation Wise
Finance Managers are designated as per their seniority level as well as the qualification that they have pursued and their job profiles. Different organizations have different designation scales for their employees across the department that they work for.
Tabulated below is the designation-wise Finance Manager Salary.
| Designations | Average Annual Salary (INR) |
|---|---|
| Operations Manager | 6.70 L |
| Branch Manager | 7.90 L |
| Credit Manager | 10 L |
| Deputy Manager | 11.9 L |
| Business Finance Manager | 18 L |
| Finance Controller | 20.6 L |
Finance Manager Salary: Skill Wise
Skills are one of the key factors that help to update oneself with the latest technology as well as gain an overall career refurbishment. Some of the key skills that are essential for Finance Managers along with their salaries are tabulated below for your reference.
| Skill Sets | Average Annual Salary (INR) |
|---|---|
| Finance Management | 4.11 L |
| Balance Sheet | 7.44 L |
| Financial Analysis | 12 L |
| Taxation | 13.9 L |
| Accounting | 15 L |
| Auditing | 15 L |
| Budgeting | 17.43 L |
Finance Manager Salary: Company Wise
India is home to several top Finance Management companies, that hire fresh graduates as well as experienced professionals across various job profiles and designations. Tabulated below are some of the top Finance Management companies along with their average salary packages for Finance Managers for your reference.
| Name of the Company | Average Annual Salary (INR) |
|---|---|
| ICICI Prudential | 16.3 L |
| HSBC | 17.8 L |
| Goldman Sachs | 21.9 L |
| Accenture | 22.5 L |
| JP Morgan | 23 L |
Finance Manager Salary: Qualification Wise
Candidates aspiring to become Finance Managers can pursue Diploma, Undergraduate and Postgraduate Finance courses. As already discussed above, there are also various certifications that can be obtained to become a Finance Manager.
Tabulated below is the average salary of a Finance Manager based on the qualifications pursued.
| Qualifications | Average Annual Salary (INR) |
|---|---|
| Diploma | 3.20 L |
| Bachelor’s | 9.10 L |
| Master’s | 12.50 L |
| PhD | 17 L |
Finance Manager Salary: City Wise
Finance jobs are one of the most searched jobs throughout the country. Candidates from the outskirts to proper metro cities, look for finance manager jobs, simply for the fact that they offer salary packages that are comparatively more than other professions in the country. However, there is a vast difference between the salary structure of bank managers residing in metro cities to those residing in suburbs.
Tabulated below is the city-wise salary of a Finance Manager for your reference.
| Name of the Cities | Average Annual Salary (INR) |
|---|---|
| Kolkata | 9.60 L |
| Delhi | 12.09 L |
| Hyderabad | 13 L |
| Mumbai | 13.6 L |
| Pune | 14 L |
| Bengaluru | 15 L |
| Gurgaon | 15.5 L |
Finance Manager Salary: FAQs
Ques. What is the salary of a Finance Manager in India?
Ans. The salary of a Finance Manager in India ranges from INR 9.33 LPA - 12.50 LPA.
Ques. What are the top-paying companies that employ a Finance Manager?
Ans. Some of the top-paying companies who employ Finance Managers are,
- JP Morgan
- Morgan Stanley
- Goldman Sachs
- ICICI Prudential
- HSBC
Ques. What is the starting salary of a Finance Manager in India?
Ans. The starting salary of a Finance Manager in India is INR 4.11 LPA.
Ques. What is the highest salary of a Finance Manager in India?
Ans; The highest salary of a Finance Manager in India can go up to INR 30 LPA, which is usually received by the senior most designated professionals.
Ques. How does the Finance Manager salary in India change with experience?
Ans. An entry-level position salary for a Finance Manager usually comes within the salary bracket of INR 3.60 LPA - 4.11 LPA, while senior management salary can go up to INR 40 LPA, with gradual experience, expertise and knowledge.
Ques. What are the top-paying cities for Finance Managers in India?
Ans. The top-paying cities for Finance Managers in India are,
- Gurgaon
- Mumbai
- Pune
- Bengaluru
- Delhi
Ques. What are the top skills required to become a Finance Manager?
Ans. The top required skill sets to become a Finance Manager are,
- Taxation
- Budgeting
- Auditing
- Financial Analysis
- Financial Management
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