Equity Research Associate
Annual salary range
₹3 Lakhs - ₹30 Lakhs
Very High Confidence 
Very High Confidence means the data is based on a large number of latest salaries.
AmbitionBox
Search
Reviews
- Reviews
- Salaries
- Interview Questions
- About Company
- Benefits
- Jobs
- Office Photos
- Community
Filter salaries byEquity Research Associate Salary in Mumbai (Updated 2025)
based on 576
latest salaries
• updated:
22 Mar 2025
Select an experience to get the exact salary
Salary of majority employees
Equity Research Associate Salary in Mumbai ranges between ₹3 Lakhs to ₹30 Lakhs for less than 1 year of experience to 5 years of experience. Salary estimates are based on 576 latest salaries received from...
Read More
Explore on this page
Top paying companies
Popular companies
Latest annual salaries
Salaries by experience
Jobs
available
Similar designations
Salary related reviews
Top interview questions
| Company name | Avg. annual salary | Open Jobs |
|---|---|---|
 | 1 job opening | |
Elara Capital Equity Research Associate Salary
3 years exp | | |
 Equity Research Associate Salary
3 years exp | | |
 Equity Research Associate Salary
3 years exp | | |
Is this list helpful? | ||
| Company Name | Avg. annual salary | Open Jobs |
|---|---|---|
3 -
6
yrs
exp.
.
Mumbai
(37 salaries)
|
₹22 L/yr - ₹49 L/yr | 1 job opening |
|
1 -
7
yrs
exp.
.
Mumbai
(21 salaries)
|
₹8.4 L/yr - ₹19 L/yr | |
Login to view exact salary
| ||
0 -
6
yrs
exp.
.
Mumbai
(18 salaries)
|
₹4 L/yr - ₹12.1 L/yr | |
0 -
5
yrs
exp.
.
Mumbai
(18 salaries)
|
₹6 L/yr - ₹18 L/yr | |
|
1 -
3
yrs
exp.
.
Mumbai
(18 salaries)
|
₹7 L/yr - ₹10.1 L/yr | |
0 -
3
yrs
exp.
.
Mumbai
(17 salaries)
|
₹7 L/yr - ₹11 L/yr | |
0 -
3
yrs
exp.
.
Mumbai
(16 salaries)
|
₹3.9 L/yr - ₹6.5 L/yr | |
0 -
5
yrs
exp.
.
Mumbai
(16 salaries)
|
₹7.5 L/yr - ₹29 L/yr | |
Login to view exact salary
| ||
0 -
7
yrs
exp.
.
Mumbai
(15 salaries)
|
₹6 L/yr - ₹20 L/yr | |
0 -
3
yrs
exp.
.
Mumbai
(14 salaries)
|
₹7.4 L/yr - ₹25 L/yr | |
Latest annual salaries shared by Equity Research Associates
1d ago
L. F. C. Securities
Equity Research Associate
5 months exp.
2d ago
Nvs Brokerage
Equity Research Associate
1 year exp.
2d ago
Adroit Financial Services
Equity Research Associate
1 year exp.
3d ago
FactSet
Equity Research Associate
3 years exp.
3d ago
KRChoksey
Equity Research Associate
3 years exp.
4d ago
Zacks Research
Equity Research Associate
1 year exp.
1w ago
IIFL Securities
Equity Research Associate
3 years exp.
1w ago
Elara Capital
Equity Research Associate
3 years exp.
1w ago
Axis Securities and Sales
Equity Research Associate
3 years exp.
1w ago
Monarch Networth Capital
Equity Research Associate
2 years exp.
View all latest salaries
Equity Research Associate salaries by
| Years of experience | Avg. annual salary |
|---|---|
Fresher
(63
salaries)
| ₹2.2 L/yr - ₹15 L/yr |
1
year
(155
salaries)
| ₹3 L/yr - ₹18 L/yr |
Login to view exact salary
| |
2
years
(140
salaries)
| ₹3 L/yr - ₹20 L/yr |
3
years
(115
salaries)
| ₹4 L/yr - ₹30 L/yr |
4
years
(82
salaries)
| ₹4.2 L/yr - ₹45 L/yr |
View all salaries by experience
Equity Research Associate Jobs in Mumbai
Equity Research Associate
· 3-6 years
JPMorgan Chase
Mumbai
Equity Research Associate
· 2-5 years
Upgrad Rekrut
₹15
L/yr
- ₹25
L/yr
Equity Research Associate
· 2-5 years
Elara Securities (India) Private Limited
Similar Designation Salary
| Similar Designation | Avg. annual salary |
|---|---|
Research Associate Salary
0 -
6
years
exp.
(4.5k salaries)
| ₹2 L/yr - ₹10 L/yr |
Equity Research Analyst Salary
0 -
7
years
exp.
(1.2k salaries)
| ₹2 L/yr - ₹30 L/yr |
Login to view exact salary
| |
Senior Research Analyst Salary
2 -
8
years
exp.
(1.2k salaries)
| ₹2.9 L/yr - ₹18 L/yr |
Senior Associate Salary
2 -
10
years
exp.
(21.4k salaries)
| ₹2.5 L/yr - ₹25 L/yr |
Senior Equity Research Analyst Salary
2 -
12
years
exp.
(123 salaries)
| ₹6 L/yr - ₹27 L/yr |
View more similar designations
Salary related reviews by similar designations like Equity Research Associate
JPMorgan Chase & Co.
Senior Associate in Bangalore / Bengaluru
• posted on 16 Dec 2024
Likes
... repetitive work . One can manage and make a balance in personal and work stuff. Salary is good if you negotiate good at the time of joining. Later it becomes stagnant ( bonus is good )
read more- Salary - Good
+2 more
Dislikes
Work , skill development , self growth is quite difficult as mostly old technologies are running since years . Senior monopoly. Very less scope for new comer to learn , implement new things , gives ideas and growth . Few people sitting since inception at senior level , they do not move resulting impacting your growth .
read more- Skill development - Bad
+2 more
ICICI Securities
Equity Advisor in New Delhi
• posted on 06 Jun 2023
Likes
... work will be appreciated so you will get support, appreciation from the senior and also the hike & bonus accordingly.
read more- Job security - Good
Dislikes
Working in OAG department is complete customer service profile having no learning. The work can be done by 12th pass person having basic knowledge of stock market.
read more- Work satisfaction - Poor
+1 more
B&K Securities
Equity Research Analyst in Mumbai
• posted on 11 May 2018
Likes
...any and Mr Murarka (Chairman) is very good. Work life is comparatively balanced. Pay decent salary.
read more- Salary - Good
+2 more
Dislikes
Internal polictics are very high among employees.
Evalueserve
Research Associate in Gurgaon / Gurugram
• posted on 03 May 2021
Likes
Good Working ambience. Teammates are extremely helpful and management is transparent.
- Salary - Excellent
+6 more
Dislikes
Variable pay is very less, fast paced, keep you on toes, hectic working hours but depends projects, average salary
read moreZacks Research
Research Associate in Kolkata
• posted on 13 Jul 2023
Likes
Flexible working environment, permission to work from home, work life balance, considerate manager.
- Job security - Excellent
+3 more
Dislikes
Salary, appraisal
Top skills for Equity Research Associate
Equity Research Associate Salary In Other Locations
| Locations | Avg. annual salary |
|---|---|
Bangalore / Bengaluru
Equity Research Associate
0 -
5
years
exp.
| ₹3 L/yr - ₹39 L/yr |
Pune
Equity Research Associate
0 -
4
years
exp.
| ₹2.5 L/yr - ₹11.7 L/yr |
Login to view exact salary
| |
Kolkata
Equity Research Associate
0 -
5
years
exp.
| ₹2 L/yr - ₹11 L/yr |
New Delhi
Equity Research Associate
0 -
4
years
exp.
| ₹2.3 L/yr - ₹9.8 L/yr |
Ahmedabad
Equity Research Associate
0 -
3
years
exp.
| ₹6 L/yr - ₹16 L/yr |
View More
Equity Research Associate Salary By Industries
| Industries | Avg. annual salary |
|---|---|
Financial Services Equity Research Associate
0 -
5
years
exp.
| ₹3 L/yr - ₹34 L/yr |
Banking / Insurance / Accounting Equity Research Associate
0 -
5
years
exp.
| ₹2.4 L/yr - ₹34 L/yr |
Login to view exact salary
| |
IT Services & Consulting Equity Research Associate
0 -
5
years
exp.
| ₹2.8 L/yr - ₹20 L/yr |
Investment Banking / Venture Capital / Private Equity Equity Research Associate
0 -
4
years
exp.
| ₹3.5 L/yr - ₹34 L/yr |
Internet Equity Research Associate
0 -
5
years
exp.
| ₹2.4 L/yr - ₹13 L/yr |
View More
Frequently Asked Questions (FAQS) about Equity Research Associate Salaries
What is the salary of a Equity Research Associate in India?
The salary of a Equity Research Associate in India varies based on experience, location, company & Industry.
On average, Equity Research Associate salaries ranges from ₹3.0 Lakhs to ₹30.0 Lakhs per year. Top companies and specialized roles may offer higher compensation.
The average starting salary is around ₹3.0 Lakhs to ₹30.0 Lakhs per year, with the highest salary reaching ₹22.0 Lakhs to ₹45.0 Lakhs per year. Salary estimates are based on 576 salaries received from various Equity Research Associates across industries.
The average starting salary is around ₹3.0 Lakhs to ₹30.0 Lakhs per year, with the highest salary reaching ₹22.0 Lakhs to ₹45.0 Lakhs per year. Salary estimates are based on 576 salaries received from various Equity Research Associates across industries.
What are the top paying companies that employ Equity Research Associates?
Equity Research Associate Salaries at Top paying companies in India are
Salaries depend on experience, role, and location. Additional compensation may include bonuses and stock options.
| JPMorgan Chase & Co. Equity Research Associate Salary | ₹22 Lakhs to ₹45 Lakhs per year |
| Elara Capital Equity Research Associate Salary | ₹8.4 Lakhs to ₹16 Lakhs per year |
| Evalueserve Equity Research Associate Salary | ₹7.5 Lakhs to ₹17.8 Lakhs per year |
| Zacks Research Equity Research Associate Salary | ₹3 Lakhs to ₹5 Lakhs per year |
What are the top paying cities for Equity Research Associate in India?
The annual salary for Equity Research Associate in India varies by location. Top paying cities for Equity Research Associate are
Salary expectations for Equity Research Associate may vary based on job roles, experience, and specific employer requirements.
| Equity Research Associate Salary in Bangalore / Bengaluru | ₹3.0 Lakhs to ₹39.0 Lakhs per year |
| Equity Research Associate Salary in Pune | ₹2.5 Lakhs to ₹11.7 Lakhs per year |
| Equity Research Associate Salary in Kolkata | ₹2.0 Lakhs to ₹11.0 Lakhs per year |
| Equity Research Associate Salary in New Delhi | ₹2.3 Lakhs to ₹9.8 Lakhs per year |
| Equity Research Associate Salary in Ahmedabad | ₹6.0 Lakhs to ₹16.0 Lakhs per year |
What are the top paying industries for Equity Research Associate in India?
Top 5 paying Industries for Equity Research Associate in India are:
| Equity Research Associate Salary in Financial Services | ₹3.0 Lakhs to ₹34.0 Lakhs per year |
| Equity Research Associate Salary in Banking / Insurance / Accounting | ₹2.4 Lakhs to ₹34.0 Lakhs per year |
| Equity Research Associate Salary in IT Services & Consulting | ₹2.8 Lakhs to ₹20.0 Lakhs per year |
| Equity Research Associate Salary in Investment Banking / Venture Capital / Private Equity | ₹3.5 Lakhs to ₹34.0 Lakhs per year |
| Equity Research Associate Salary in Internet | ₹2.4 Lakhs to ₹13.0 Lakhs per year |
What are the fresher salaries as Equity Research Associate?
Fresher salaries for Equity Research Associate in India typically range from ₹2.2 Lakhs to ₹15 Lakhs per year, depending on the company, location, and skill set. Fresher salaries are generally higher in IT Industry than in other Industries in India.
How does experience affect salaries of a Equity Research Associate in India?
Experience significantly impacts a Equity Research Associate salary in India. Salaries increase with experience, as Equity Research Associate take on more complex tasks, responsibilities, and leadership roles.
Equity Research Associate salary at different experience level are as follows:
and so on.
| Experience | Average Salary Range |
|---|---|
| Fresher | ₹2.2 Lakhs to ₹15.0 Lakhs per year |
| 1 year | ₹3.0 Lakhs to ₹18.0 Lakhs per year |
| 2 years | ₹3.0 Lakhs to ₹20.0 Lakhs per year |
| 3 years | ₹4.0 Lakhs to ₹30.0 Lakhs per year |
Tell us how to improve this page.
Popular Tools
Q1. Have you done analysis of company, if yes then what all methods you use to value companies?
asked in
3A Financial Services
View answers (2) Q2. In which industry company is operating and what is the business of company?
asked in
3A Financial Services
View answer (1) Q3. What all parameters you will look for to analyse any company?
asked in
3A Financial Services
View answer (1) - Home >
- Salaries >
- Equity Research Associate Salary >
- Equity Research Associate Salary in Mumbai
Rate your company