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10 Best Highly Paid Accounting Jobs

 

The very first career decision we make when we choose our streams and subjects that we want to study. That decision is not just based on what we want to study in the next standard, it also affects how and what our lives turns out.
The students who are not very precise about what they want their careers to look like, 60% of those students choose commerce and decides to study subjects like accountancy, business and economics. And that is because of a very well known saying “commerce provides you with a variety of jobs in terms of nature and pay scale”.
So in this article, I am going to answer all your questions regarding jobs in accounts and finance, accounting jobs, accountant job salary, and entry level accounting jobs.

 

01. Internal Auditing Manager:

The internal auditing manager conducts risk management processes, guides managers and staff, prepares, analyses, and evaluates reports and accounting documents, develops annual plans, and conducts follow up audits.
This is one of the best accounting jobs and it requires various skills like:
 Initiative –one should have the quality of taking initiatives in making decisions.
 Analytical thinking –analytical and numerical skills are essential in manipulating large amounts of data and creating reports.
 Judgment – the ability to think objectively, have strong ethical norms, as well as high levels of integrity to adhere to regulations and compliance is necessary.
 Organization skills – internal audit managers have to be superbly organized and be able to prioritize their workload.
 Communication skills – internal audit managers work closely with the employees and thus should have communication skills so that they communicate effectively and add to the value of the firm.

What is the average pay scale of an internal audit manager in India?
The average salary of an internal audit manager in India is between Rs 10 lakhs to Rs 15 lakhs.

 

02. Director of Finance & Administration:

The director of finance and administration plays multiple roles. It helps with almost every department of the organization as he leads and develops an internal team to support the finance, business planning and budgeting, human resources, administration, and IT department.

What are the major roles concerned with this accounting job?

The major roles of a director of finance and administration include analyzing and presenting financial reports in an accurate and timely manner, clearly communicating monthly and annual financial statements, coordinating and leading the annual audit process, administering and reviewing all financial plans and budgets, monitoring progress and changes, updating and implementing all necessary business policies and accounting practices, enhancing professional development, handling compensation and benefits, evaluating performances and overseeing training, and recruiting of the new employees.

What is the average pay scale of a director of finance and administration is?
It is majorly dependent upon the experience of a person. However, a person with an experience of 5-9 years of experience can expect an average of Rs 10to 12 lakhs which increases with increasing experience.

 

03. Investment Banker:

Every firm or organization in his world required money or capital to run. So an investment banker helps their clients raise money for their firm.
They also perform various valuation methods, provide recommendations for product offerings, private equity transactions, mergers, and acquisitions, develop relationships with new and existing clients in order to expand the business and raise capital, review materials used in the financing of clients, and perform due diligence.
Investment bankers are aggressive salesmen. So, if you have excellent sales skills then you can give serious thought to this accounting job.

What are the skills required for this job?
 Impeccable quantitative skills.
 A degree in finance, or accountancy.
 Tenacity, persuasiveness, networking, and communication skills.
 The ability to perform a valuation on the spot.

What is the earning potential for this job?
The earning potential of this accounting job depends upon the experience. However, an experience holder of 1-4 years of experience earns an average total compensation of Rs 8 to 9 lakhs which can increase with the experience.

 

04. Corporate Controller:

A corporate controller is ahead of the accounting department of a firm or organization and thus overlooks all the activities under the accounting department like activities related to making financial statements, general ledger, cost accounting, payroll, accounts payable, accounts receivable, budgeting, special analyses as well as other duties.
In larger organizations a corporate controller can head and lead other accounting officers and accountants can repost to the CFO of the company.
What are the skills required to be in this accounting job?
 Communication skills
 Leadership skills
 Ability to make judgments
 Analytic skills
 Objectivity, Candor
 Integrity and credibility
What is the pay scale of this job?
It majorly depends on profit sharing. However one can expect a handsome compensation of Rs 8 to 15 lakhs or more depending upon the experience and size of the company and profit.

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05. Director of Risk Management/Risk Control:

The name itself says a lot about the roles and responsibilities of this accounting and finance job. But in simpler terms, a director of risk management or risk control, analyses, manages, and controls risk-related elements of their organization to determine the potential loss. They are responsible for managing liability programs, gathering risk data, and mitigating risks as required. They plan and direct the risk management program. They also respond to inquiries from internal and external points of contact and conduct analysis and research to resolve questions regarding processes and risk and controls data.
The qualification required for this accounting job is a bachelor’s degree in risk management, business, economics, or finance.
The earning potential for this job is:
The average earnings of Director of Risk Management/Risk Control are Rs 3m to 7m.

 

06. CFO (Chief Financial Officer):

A chief financial officer keeps in check the financial actions of the company or organization. A CFO is responsible for tracking the cash flow of a company and does financial planning as well as analyzing the company’s financial strengths and weaknesses, then formulating plans and corrective actions.
A CFO oversees the taxation issues for their companies. He plays important role in a company’s overall actions, strategies, profit, sales, and success. The CFO’s role has emerged from focusing on compliance to implemented strategies and quality control, business planning for they are strategic partners to the CEO.
The earning potential of this accounting job:

Being one of the most key factors behind the success of a firm requires huge efforts as well as pays fairly equal to the efforts too.
Although there is always an experience factor as being responsible for such actions requires you to be knowledgeable.
But the average to expect for 5-9 years of experience is Rs 15 to 10 lakhs.

 

07. Financial Planning & Analysis Manager:

jobs in accounts and finance

A Financial planning & analysis manager works closely with the COO and CEO to formulate financial plans, strategies, budgets, etc to increase the company’s profitability and efficiency. He works with business units heads to build their annual budgets, assist in producing models to project long term growth, analyze financial and operational results for a greater understanding of company’s performance, communicates to senior management about the reasons behind the product/department performance and results, evaluates previous budgets, expenditures, etc.
The earning potential is:
The earning potential of a financial planning & Analysis manager is quite wide as this type of accounting and finance job required a lot of effort but pays quite fairly.
The average income in this accounting job ranges from Rs 10 to Rs 20 lakhs.

08. Vice President of Finance:

The job and roles of CFO and a VP of Finance are quite similar as they both are responsible for the financial planning of the company, they both help in formulating financial plans and help them in implementing. Their titles are interchangeable depending upon the size of the company.
Difference between a CFO and a VP of finance.
VPs of Finance' the role is managing the company’s finances. They take charge of putting controls in place and make sure payroll is done on time, and manages the balance sheet.
However, a CFO is more involved in planning the financial future of the firm. The CFO is more concerned with how the future of the company looks like and how it can make it better financially.
The earnings associated with this accounting job:

Depending upon the experience, a VP of finance with an experience of 5 to 9 years can earn Rs 10 to 18 lakhs.

 

09. Finance director:

A Finance director position is an upper management position. The good financial health of the company is the key responsibility of a Finance director. They set budgets and work closely with all the departments, heads to ensure that income and expenditures remain within the targets. They exercise control over all financial inflows and outflows of the company and take responsibility for managing the company’s liquidity, ensuring that it always has access to liquid assets and sources of credit. He makes sure that all employees are in compliance. They also formulate and implement policies to minimize risk.
What are the key skills required for this accounting job?
The key skills required for this job are as follows
 Excellent analytical and financial skills.
 Ability to communicate complex financial information.
 Should be familiar with the database and software for financial analysis.
 A strong financial and market experience.

The pay scale associated with this job:
The average pay scale associated with this job for a starter lies between Rs 10 to 18 lakhs (inclusive of all the bonuses and tips).

 

10. Accountancy Teacher:

The profession of a teacher is not just noble for it encourages the values like giving, providing, caring, and motivating but it also one of the most stable jobs which pay you very fairly.
These are one of the many benefits of choosing your career as a teacher, others are:
 Flexibility in the schedules,
 The comfort of working in a safe environment,
 The comfort of choosing your workplace and
 A regular pay

With the growing popularity and accessibility of the internet, online teaching jobs are in high demand, it has become a trend. Why?
Because of the benefits associated with it some of them are here:

 Getting help from the expertise,
 The benefit of choosing your classroom,
 The flexibility of choosing your schedule and
 Safe environment.

What is the earning potential of the online tutor?
o Provide you income on a lecture basis,
o Can vary from the level of your expertise,
o Rs 200 per hour for the beginners and can increase to Rs 500 per hour as you gain experience.

Where can you find such jobs?
CHEGG is an online learning platform that acts as a bridge between the students and teachers. It provides hundreds of students the knowledge beyond the classrooms. CHEGG hires experts for multiple subjects including accountancy. “Experts” are the teachers who provide solutions to the students’ questions from all over the world.
It helps students with their problems and teacher with their global insight and reach to students.

How do get yourself registered as an EXPERT in CHEGG?

 Get yourself registered
 Take a subject test
 Adhere to the guidelines
 Take a guidelines test
 Upload your documents for document verification.
And that’s all.

After becoming an expert you will be paid according to the questions that you have correctly answered.
You can go and check out their online site on the link below:
These were the main jobs associated with accountancy and finance. You can choose to turn your career into whatever you like depending upon your skills and interests. As money isn’t the only asset that one can live with, so, I suggest you make your decision depending upon your interests.