Average Fraud Detection Associate Salary in India for 2024

In this article, we will look at the average Fraud Detection Associate salary for 2024 in India and how that compares to other countries and professions. We'll also look at interesting salary data points like median salary, 25th and 75th percentile salaries, salary amounts based on experience, bonus ranges and more!

The data in this article has been compiled using official government salary data, salary surveys, and other sources such as job postings which contain salary information.

All salary information is in the local currency, which is the Indian rupee. To keep things simple, we are using the INR currency code instead of the currency symbol โ‚น.

How Much Does a Fraud Detection Associate Make in India?

A Fraud Detection Associate working in India will typically earn around 301,600 INR per year, and this can range from the lowest average salary of about 142,300 INR to the highest average salary of 476,600 INR.

Average Annual Salary
301,600 INR
Average Monthly Salary
25,133 INR

Lowest Annual Salary
142,300 INR
Lowest Monthly Salary
11,858 INR

Highest Annual Salary
476,600 INR
Highest Monthly Salary
39,716 INR

These are average salaries for a Fraud Detection Associate in India and include benefits such as housing and transport. It's also possible for a Fraud Detection Associate to earn more or less than the average salaries shown above.

Fraud Detection Associate salaries will vary a lot based on your experience, location, skills, and gender. Keep reading below to research more data on each of these areas.

Distribution of Fraud Detection Associate Salaries in India

So we've looked at the average salaries a Fraud Detection Associate will earn in India. The next interesting data point is the distribution of salaries.

Salary ranges

We already know that a Fraud Detection Associate can earn between 142,300 INR and 476,600 INR on average in India. This is known as the range in statistics.

The difference between the maximum and minimum values is a good indicator of variability in salaries, and can be used by employers to figure out how much they can expect to pay, and for employees to know how much they can earn.

Median salary

The median salary for a Fraud Detection Associate in India is 319,600 INR. This is the middle value in the distribution of salaries.

What this means is that approximately 50% of the population earn less than 319,600 INR, and 50% of the population earn more than 319,600 INR.

If you are earning more than the median salary, that's a good indicator that you are being paid well.

If you're not earning more than the median salary, your objective should be to increase your earnings to be at least as high as the median salary (which you can do by asking for a pay rise, looking for a better paying job, etc).

Percentiles

Percentiles are similar to the median salary, but instead of looking at the middle value, they look at the values in the top and bottom half of the distribution.

For the average Fraud Detection Associate salary in India, 25% of the population are earning less than 207,700 INR while 75% of the population earn more than 207,700 INR.

75% of the population earn less than 420,800 INR, and 25% of the population earn more than 420,800 INR.

Like the median salary, the 25th and 75th percentile salaries can be used to determine which quartile you fall into so that you know whether you are being paid well enough compared to others in your profession and location.

The difference between a median and an average salary

The median and average salary are both indicators you can use to see if you are being paid fairly based on the overall population.

  • If your salary is higher than the average and the median salary, you are earning well compared to others.
  • If your salary is lower than the average and the median salary, it could indicate you are not being paid well enough.
  • If you are somewhere in between then it's tricky to determine if you are being paid well enough and you might need to research more closely.

Fraud Detection Associate Salary by Experience Level in India

The most important factor in determining your salary after the specific profession is the number of years experience you have. It stands to reason that more years of experience will result in a higher wage.

We have researched the average fraud detection associate salary based on years of experience to give you an idea of how the average changes once you've worked for a certain amount of time.

  • 0 - 2 Years Experience. A Fraud Detection Associate in India that has less than two years of experience can expect to earn somewhere in the region of 161,600 INR.
  • 2 - 5 Years Experience. With two to five years of experience the average Fraud Detection Associate salary would increase to 225,300 INR.
  • 5 - 10 Years Experience. From five to ten years of experience as a Fraud Detection Associate, the average salary would be 320,500 INR.
  • 10 - 15 Years Experience. Once you have more than ten years of experience the average salary reaches around 392,300 INR.
  • 15 - 20 Years Experience. A Fraud Detection Associate with 15 to 20 years of experience can earn an average of 413,900 INR.
  • 20+ Years Experience. For a Fraud Detection Associate with more than 20 years, the expected average salary increases to 451,000 INR.

Average Salary by Experience Chart

0-2 Years
161,600 INR
2-5 Years +38%
225,300 INR
5-10 Years +42%
320,500 INR
10-15 Years +22%
392,300 INR
15-20 Years +6%
413,900 INR
20+ Years +9%
451,000 INR

Fraud Detection Associate Salary by Education Level in India

As well as experience in a job, your education plays a big role in how much you can earn. A lot of higher paying positions require a high level of education, but how much can a degree increase your salary?

In our research we have compared the salaries of employees in the same job and career level with different levels of education to see how much more you can earn at each education level.

The salary you can earn based on your education is very specific to both your location and the career path you choose.

In our research, we looked at the average salary for a Fraud Detection Associate in India based on the education level of the employees in order to find out whether a better education level would increase your salary.

  • Bachelor's Degree. A Fraud Detection Associate in India with a bachelor's degree education can earn an average salary of 225,300 INR.

  • Master's Degree. A Fraud Detection Associate in India with a master's degree education can earn an average salary of 413,900 INR.

Average Salary by Education Chart

Bachelor's Degree
225,300 INR
Master's Degree +83%
413,900 INR

How Much is a Master's Degree or MBA Program?

The approximate cost of a master's degree or post-graduate program like an MBA in India is around 160,000 to 479,000 INR and takes two years to complete.

As you can see above, there are financial benefits from reaching master's degree level, but don't expect to see much of a salary increase until you have completed the degree.

It's common for people to pursue an MBA or other post-graduate program in order to switch to a a job that pays more. On average, you can expect to earn around 10% more when switching to a new company.

Whether you decide to pursue a master's degree depends on many factors. If you are able to afford it, the numbers suggest that the return on investment is worth it and you could recover the costs in a few years from the salary increase you would receive.

Fraud Detection Associate Salary Compared by Gender

In the modern age, we know that there should never be a pay gap between men and women. Unfortunately, in many professions, there is still a significant difference between the salaries earned by men when compared to the salary of women in the same job.

In India, a male fraud detection associate will earn an average of 325,600 INR, while a female fraud detection associate will earn around 282,500 INR.

This means that a male fraud detection associate earns approximately 15% more than a female fraud detection associate for performing the same job.

Average Salary by Gender Chart in India

Male
325,600 INR
Female -15%
282,500 INR

Fraud Detection Associate Average Pay Raise in India

In many countries, an annual pay raise is often given to employees to reward their service with a salary increase.

From our research, we can see that the average pay raise for a Fraud Detection Associate in India is around 12% every 15 months.

The national average pay raise across all professions and industries in India is around 9% every 16 months.

In this case, we can see that the number of months between the average pay raise is higher than the typical 12 months.

To make the data more meaningful, we can calculate what the approximate annual pay raise would be using a simple formula:

Annual Increase = ( Increase Rate ÷ Months ) × 12

So for this example, it would be:

Annual Increase = ( 12 ÷ 15 ) × 12  = 10%

What this means is that a Fraud Detection Associate in India can expect to receive an average pay raise of around 10% every 12 months.

Annual Pay Raise by Industry in India for 2024

In the chart below, you can see the average annual pay raise percentages for each of the major industries in India.

You will see that companies in bigger and more lucrative industries tend to have the higher annual pay raises.

Banking
1%
Energy
2%
Information Technology
3%
Healthcare
4%
Travel
5%
Construction
6%
Education
7%

Fraud Detection Associate Bonus and Incentive Rates in India

Another part of your overall compensation in a job is how much bonus you receive. Some job roles will be more likely to pay a bonus than others and also more likely to have higher bonus rates.

Generally speaking, jobs that are more involved with direct revenue generation will receive higher bonuses based on the performance towards revenue goals.

A Fraud Detection Associate is a moderate bonus based job, with 58% of employees reporting at least one bonus in the last 12 months.

42% reported that they had not received any bonuses in the previous 12 months.

For the employees that did receive a bonus in the previous 12 months, the reported bonuses ranged from 2% to 7%.

Received Bonus
58%
No Bonus
42%

What are the Types of Bonus?

There are a number of difference types of bonus you can receive in a job. Including:

  • Individual performance bonus - This is a bonus that is awarded to an individual employee for general performance in the job. It's the most common type of bonus.
  • Company performance bonus - This is a bonus that is awarded to a company employees to share profit with the staff.
  • Goal based bonus - This is a bonus that is awarded to an individual employee (or a team) for achieving specific goals, objectives, or milestones.
  • Holiday bonus - This type of bonus is usually paid around the holidays, often the end of the year, and is a token of appreciation for the hard work throughout the year.

Government vs Private Sector Salaries

Another commonly asked question is whether you get paid a higher salary working in the public (government) sector or the private sector.

Public sector employees in India earn approximately 6% more than private sector employees in the same role.

Public Sector
392,300 INR
Private Sector -6%
371,100 INR

Salaries for Jobs Similar to a Fraud Detection Associate

In the table below, we have salary information for jobs that are similar to a Fraud Detection Associate in India.

Job Title Category Salary
AML Analyst Banking 588,500 INR
Assistant Bank Branch Manager Banking 502,200 INR
Assistant Bank Manager Banking 660,500 INR
ATM Manager Banking 558,300 INR
ATM Service Technician Banking 152,300 INR
Bank Accounts Analyst Banking 222,300 INR
Bank Accounts Collector Banking 137,400 INR
Bank Accounts Controller Banking 283,700 INR
Bank Accounts Executive Banking 420,800 INR
Bank Accounts Manager Banking 491,000 INR
Bank Auditing Manager Banking 496,100 INR
Bank Branch Manager Banking 684,900 INR
Bank Branch Operations Coordinator Banking 301,600 INR
Bank Clerk Banking 128,900 INR
Bank Client Service Associate Banking 185,100 INR
Bank Collector Banking 137,400 INR
Bank Compliance Specialist Banking 359,900 INR
Bank Manager Banking 798,900 INR
Bank Operational Risk Manager Banking 790,600 INR
Bank Operations Head Banking 814,500 INR
Bank Operations Officer Banking 317,700 INR
Bank Operations Specialist Banking 498,000 INR
Bank Process Manager Banking 451,000 INR
Bank Product Manager Banking 519,300 INR
Bank Programme Manager Banking 548,800 INR
Bank Project Manager Banking 643,800 INR
Bank Propositions Manager Banking 574,200 INR
Bank Quantitative Analyst Banking 403,100 INR
Bank Regional Manager Banking 832,000 INR
Bank Regional Risk Officer Banking 420,800 INR
Bank Relationship Manager Banking 608,500 INR
Bank Relationship Officer Banking 275,200 INR
Bank Teller Banking 143,200 INR
Banker Banking 283,700 INR
Banking Business Analyst Banking 447,300 INR
Banking Business Development Officer Banking 263,100 INR
Banking Business Planning Executive Banking 597,800 INR
Banking Product Manager Banking 519,300 INR
Banking Reference Data Manager Banking 454,900 INR
Banking Risk Analyst Banking 414,000 INR
Banking Technical Analyst Banking 222,300 INR
Bankruptcy Coordinator Banking 296,000 INR
Bill and Account Collector Banking 150,000 INR
Budget Analyst Banking 414,000 INR
Capital Risk Manager Banking 790,600 INR
Cards Marketing Manager Banking 524,700 INR
Cash Management Manager Banking 731,700 INR
Check Processing Manager Banking 539,700 INR
Commercial Vault Associate Banking 407,300 INR
Corporate Banker Banking 301,600 INR
Corporate Dealer Banking 431,300 INR
Credit Analyst Banking 325,600 INR
Credit and Collections Manager Banking 562,600 INR
Credit Card Fraud Investigator Banking 430,500 INR
Credit Portfolio Manager Banking 780,600 INR
Credit Risk Analyst Banking 467,100 INR
Credit Risk Associate Banking 447,300 INR
Direct Bank Sales Representative Banking 296,000 INR
Exchange Control Consultant Banking 440,200 INR
Executive Account Analyst Banking 411,400 INR
Financial Bank Planning Consultant Banking 537,300 INR
Financial Banking Analysis Manager Banking 615,700 INR
Financial Banking Assistant Banking 197,600 INR
Financial Banking Systems Manager Banking 568,500 INR
Foreign Exchange Manager Banking 608,500 INR
Fraud Analyst Banking 444,300 INR
Fraud Detection Manager Banking 649,700 INR
Fraud Detection Supervisor Banking 363,000 INR
Internal Bank Audit Manager Banking 759,300 INR
Internal Bank Auditor Banking 406,300 INR
Internal Private Banker Banking 301,600 INR
International Banking Manager Banking 854,300 INR
Investment Banking Analyst Banking 605,700 INR
Loan Analyst Banking 414,000 INR
Loan Area Manager Banking 507,300 INR
Loan Audit Team Leader Banking 475,700 INR
Loan Branch Manager Banking 471,700 INR
Loan Business Development Officer Banking 252,300 INR
Loan Clerk Banking 150,000 INR
Loan Collection and Recovery Manager Banking 502,200 INR
Loan Collection Manager Banking 502,200 INR
Loan Collector Banking 137,400 INR
Loan Examiner Banking 183,600 INR
Loan Officer Banking 159,400 INR
Loan Processing Manager Banking 451,000 INR
Loan Processor Banking 189,300 INR
Loan Quality Assurance Auditor Banking 420,800 INR
Loan Quality Assurance Manager Banking 471,700 INR
Loan Quality Assurance Representative Banking 314,500 INR
Loan Review Manager Banking 472,000 INR
Loan Team Leader Banking 420,800 INR
Loans Manager Banking 558,300 INR
Mortgage Advisor Banking 288,700 INR
Mortgage Collection Manager Banking 491,000 INR
Mortgage Collector Banking 137,400 INR
Mortgage Credit Analyst Banking 222,300 INR
Mortgage Credit Manager Banking 467,100 INR
Mortgage Development Manager Banking 537,300 INR
Mortgage Document Reviewer Banking 183,600 INR
Mortgage Funding Manager Banking 539,700 INR
Mortgage Operations Manager Banking 724,300 INR
Mortgage Payment Processing Clerk Banking 159,400 INR
Mortgage Processing Manager Banking 478,000 INR
Mortgage Processor Banking 189,300 INR
Mortgage Quality Assurance Auditor Banking 414,000 INR
Mortgage Quality Assurance Manager Banking 472,000 INR
Mortgage Servicing Clerk Banking 146,200 INR
Mortgage Servicing Manager Banking 462,300 INR
Mortgage Underwriter Banking 176,800 INR
Online Banking Manager Banking 725,700 INR
Payment Processing Clerk Banking 150,000 INR
Personal Banker Banking 301,600 INR
Personal Banking Advisor Banking 309,800 INR
Phone Banker Banking 200,000 INR
Private Banker Banking 301,600 INR
Reconciliation and Investigation Specialist Banking 341,400 INR
Tax Officer Banking 249,600 INR
Teller Banking 143,200 INR
Trade Officer Banking 172,200 INR
Trade Product Manager Banking 491,000 INR
Trader Banking 204,000 INR
Treasury Operations Officer Banking 369,300 INR

Salary Comparison by City

If you want to compare salaries with different cities in India, you can use the links below to explore the data for each specific city we have researched.

City Average Salary
agra 268,900 INR
Ahmadabad 319,600 INR
Bangalore 335,800 INR
Bhopal 301,300 INR
Chennai 317,700 INR
Coimbatore 288,100 INR
Delhi 354,000 INR
Ghaziabad 297,000 INR
Hyderabad 335,100 INR
Indore 297,000 INR
Jaipur 309,800 INR
Kanpur 325,800 INR
Kolkata 335,800 INR
Lucknow 332,500 INR
Ludhiana 286,400 INR
Madurai 273,300 INR
Mumbai 332,500 INR
Nagpur 307,400 INR
Patna 275,800 INR
Pimpri-Chinchwad 315,700 INR
Pune 314,500 INR
Surat 313,700 INR
Vadodara 275,500 INR
Visakhapatnam 299,500 INR

Salary Comparison by State

The table below includes links to the average salary for each state in India.

City Average Salary
Andaman & Nicobar Islands 273,300 INR
Andhra Pradesh 354,000 INR
Arunachal Pradesh 273,000 INR
Assam 317,700 INR
Bihar 361,500 INR
Chandigarh 273,000 INR
Chhatisgarh 327,800 INR
Dadra & Nagar Haveli 275,800 INR
Daman & Diu 246,500 INR
Delhi 301,300 INR
Goa 275,500 INR
Gujarat 341,400 INR
Haryana 318,800 INR
Himachal Pradesh 308,300 INR
Jammu & Kashmir 319,600 INR
Jharkhand 317,700 INR
Karnataka 335,800 INR
Kerala 325,600 INR
Lakshadweep 257,700 INR
Madhya Pradesh 362,200 INR
Maharashtra 372,600 INR
Manipur 308,300 INR
Meghalaya 281,500 INR
Mizoram 271,300 INR
Nagaland 288,100 INR
Orissa 340,000 INR
Pondicherry 283,700 INR
Punjab 335,800 INR
Rajasthan 335,100 INR
Sikkim 261,300 INR
Tamil Nadu 341,900 INR
Tripura 299,500 INR
Uttar Pradesh 378,300 INR
Uttaranchal 309,800 INR
West Bengal 372,600 INR

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