Fund Manager Salary in India: A Detailed Guide for 2024
The fund management sector in India is growing rapidly, fueled by a rise in investments and a changing financial landscape. This growth has led to a higher demand for skilled fund managers, with job opportunities expected to increase by 17% between 2023 and 2033. Understanding the salary trends for fund managers is important as many factors, like experience, location, and the type of financial institution, can affect how much they earn. In this blog, we will explore fund manager’s salaries in India and the key factors that influence their financial success.
Average Fund Manager Salary in India
The fund manager’s salary in India can vary widely depending on factors like experience, qualifications, skills, and location. Fresh graduates usually start with a monthly salary between ₹65,000 and ₹85,000. As they gain experience, this can increase to around ₹1,20,000 to ₹2,00,000 per month. Those with several years of experience or expertise in specialized areas can earn even more, particularly in bigger cities where financial institutions are prominent. To give you a clearer picture, we’ve provided a detailed breakdown of fund manager salaries across different regions in India below.
1. Fund Manager Salary in India by Experience
The fund manager’s salary in India increases steadily with experience. Freshers entering the field typically start with a modest salary, but as they develop their skills and gain expertise, their earnings increase significantly. Professionals with extensive experience, especially those working in large financial hubs, often see a substantial rise in their annual pay.
Below is a table showing the average salary of fund managers in India based on their years of experience.
| Experience Level | Average Salary (Per Annum) |
| 0-3 years | ₹7.8 LPA |
| 4-7 years | ₹15.6 LPA |
| 8-10 years | ₹28.8 LPA |
| 10+ years | ₹48 LPA+ |
2. Fund Manager Salary in India by Job Position
A fund manager’s salary in India is also influenced by the position they hold within an organization. Entry-level roles generally come with lower salaries, but as professionals move into more senior roles, their compensation rises significantly. Higher positions often come with increased responsibilities, decision-making power, and higher pay.
Below is a table showing the average salary for fund managers in India based on their job position, from fresher roles to experienced ones.
| Job Position | Average Salary (Per Annum) |
| Junior Fund Manager | ₹7.5 LPA |
| Fund Manager | ₹12.8 LPA |
| Senior Fund Manager | ₹24 LPA |
| Vice President – Fund Management | ₹40 LPA+ |
3. Fund Manager Salary in India by Location
Location is a key factor in determining a fund manager’s salary in India. Metropolitan cities and major financial hubs, like Delhi and Mumbai, tend to offer higher salaries due to the higher cost of living and the presence of top financial institutions. In contrast, fund managers working in smaller cities or less prominent financial regions often earn comparatively lower salaries.
Below is a table showing the average salary of fund managers in India based on their location, providing insight into how location can impact earning potential.
| Location | Average Salary (Per Annum) |
| Mumbai | ₹20 LPA |
| Delhi | ₹18 LPA |
| Bengaluru | ₹16 LPA |
| Chennai | ₹13 LPA |
| Pune | ₹14 LPA |
| Hyderabad | ₹13 LPA |
4. Fund Manager Salary in India (Company-Wise)
The type of company a fund manager works for plays a big role in determining their salary. Multinational financial institutions generally offer higher pay compared to domestic companies or government organizations. For example, working for global firms often means higher compensation due to their larger scale and international presence. On the other hand, domestic firms or government jobs may offer more stability but with slightly lower pay.
Below is a table showing the average fund manager salary in India based on company type, along with examples of well-known companies in India.
| Company Type | Average Salary (Per Annum) |
| Multinational Financial Institutions (Morgan Stanley, JPMorgan Chase) | ₹18.5 LPA |
| Indian Private Banks (HDFC Bank, ICICI Bank) | ₹14.2 LPA |
| Asset Management Companies (SBI Mutual Fund, HDFC Mutual Fund) | ₹12.8 LPA |
| Indian Government Banks (State Bank of India, Punjab National Bank) | ₹10.5 LPA |
| Financial Consulting Firms (KPMG, Deloitte India) | ₹11.6 LPA |
5. Fund Manager Salary in India by Industry
The industry a fund manager works in has a major effect on their salary. Industries like insurance and financial services usually offer higher pay because of the complexity and size of the investments they handle. These sectors demand specialized knowledge, which is why they tend to reward fund managers with higher compensation.
Below is a table showing the average fund manager salary in India based on the industry type.
| Industry | Salary Range (LPA) |
| Financial Services | 20 LPA – 50 LPA |
| Insurance | 30 LPA – 70 LPA |
| Banking | 25 LPA – 60 LPA |
| Internet | 15 LPA – 40 LPA |
| Banking / Insurance / Accounting | 28 LPA – 65 LPA |
| IT Services & Consulting | 18 LPA – 45 LPA |
Factors Affecting Average Fund Manager Salary in India
The fund manager’s salary in India is shaped by more than just experience or job position. Various external and internal factors play a significant role in determining how much a fund manager can earn. Understanding these factors helps professionals and aspiring fund managers set realistic salary expectations and make informed career decisions.
Below are the key factors that influence a fund manager’s salary:
- Educational Background and Certifications: Advanced degrees and professional certifications like CFA (Chartered Financial Analyst) can lead to better salaries, as they demonstrate higher skills and knowledge. Additionally, an advanced Excel course can also improve your chances of getting a higher-paying job.
- Risk Management Skills: Fund managers who excel at managing risks in volatile markets are highly sought after. Their ability to minimize potential losses while maintaining profitability can command higher salaries.
- Analytical and Research Skills: The ability to conduct in-depth market research and analyze trends efficiently can boost earning potential. Fund managers who excel in this area often find more lucrative roles.
- Networking and Client Acquisition: Building a strong network and acquiring high-net-worth clients can directly influence a fund manager’s salary. Those with larger, more profitable client portfolios tend to earn higher incentives.
- Performance and Results: Fund managers who consistently deliver strong financial results often receive performance-based bonuses or salary hikes. Pursuing a financial modeling and evaluation course can help improve results and drive compensation growth.
Conclusion
A fund manager’s salary in India can vary a lot depending on their experience, location, and the type of company they work for. By understanding these factors, aspiring fund managers can set realistic expectations and make better career decisions. As demand for skilled fund managers grows, so do opportunities for career advancement. Staying up to date with industry trends and continuously improving your skills will be key to thriving in this competitive field. If you’re curious about similar career options, check out our blog on how to land a job in investment banking for more helpful tips.
FAQs
Answer: Yes, being a fund manager can be stressful due to the responsibility of managing substantial investments and meeting clients’ expectations. The need to stay updated on market trends and make quick decisions adds to the pressure.
Answer: Yes, most employers require fund managers to hold financial analyst certifications. The Chartered Financial Analyst (CFA) designation, awarded by the CFA Institute, is the most recognized certification in the field and often sought by employers.
Answer: Yes, Warren Buffett is a well-known fund manager. He founded and managed his own hedge fund, Buffett Partnership, in 1957. Under his management, the fund achieved remarkable success, delivering an impressive compounded annual return of 31.6 per cent before fees.
