Most banking jobs are lucrative and well-paying. In recent years, the banking sector has witnessed massive growth. With the introduction of new technologies and the raised demand for financial services, this sector will expand more in the upcoming years.
Banking jobs allow you to have the financial stability to live a peaceful life after retirement. That is why every year lakhs of students apply for banking jobs and get enrolled in the banking sector. In this article, we will suggest some of the highest-paying jobs you can pursue in the banking sector in India.
Becoming an investment banker is the dream job of many aspirants and students out there, as it is a financially high-profile job. An investment banker has to look after a lot of responsibilities, such as exploring for investors and persuading them to buy stock from the respective bank’s tasks.
Another task that you have to do as an investment banker is to achieve fundraising for the bank’s assignments through public assets. Moreover, an investment banker earns about 70 lakhs on yearly basis.
Basically, a loan officer has to deal with loan applications. They have to decide the trustworthiness of applicants to permit the approval of different loans. A loan officer takes an interview of the loan applicants and compiles their financial details. With that, they can judge if the borrower has the capacity to repay business, credit, individual, etc.
On the basis of an applicant’s financial eligibility, they can approve or reject and provide suitable answers. In addition, they can give suggestions to accelerate the loan process, establish debt repayment plans, prepare loan contracts, and regularly review and update active loan files.
A branch manager keeps an eye on the daily functions of a bank. They manage the staff members, address customer complaints, and ensure that the bank meets all the financial objectives. As a bank manager, you need to have interpersonal skills, leadership abilities, and in-depth knowledge of banking procedures.
In order to adapt these skills, you have to get along with an institute like IPB (Institute Of Professional Banking). This institute offers courses for students who want to get enrolled in the banking sector. In India, a bank manager can earn up to INR 24 lakhs per annum.
An equity trader looks after the stock exchange provided by the respective bank. In addition, they also take charge of handling the funds. Equity traders make decisions on the basis of analysing and studying the financial risks and market needs. As an equity trader, you get an annual salary of around 49 lakhs.
A bank accountant manages and retains records of the bank’s daily financial dealings. They ensure that the bank has enough cash to handle customer requests. Their task is to check for errors, review accounting entries, and track defined methods to correct these.
If they witness any unusual account activity, doubtful transactions, or illegal actions such as money laundering, they have the right to report them to the higher banking authorities. Besides that, they help with tax preparation and collect financial reports for customers and shareholders. The salary of an accountant is about 2.5 lakhs per annum.
When you pursue a career as a wealth manager, you have to manage the investment portfolios of high-net-worth clients. They help clients in making strategies that profit them to manage their assets to maximise returns. When you want to become a wealth manager, you have to work on a few skills.
First, you need to have excellent interpersonal skills. Another is deep knowledge of financial markets. In India, as a wealth manager, you can earn up to 15-20 lakhs per annum.
An internal auditor evaluates the finances taking place in the banks and structures risk management. They provide opinions and tips to streamline the bank’s financial transactions and encourage better profits. In India, you can count it as one of the highest-paying bank jobs.
An internal auditor receives an annual pay of over 40 lakhs. They have to look after the following tasks:
- Assure that the company’s laws and rules comply with federal and state laws.
- Give suggestions for the issues faced during an audit or failed audit.
- Review of risks in internal management in an institution.
A financial analyst is liable for examining financial data and providing wisdom to help firms make informed decisions. They investigate economic trends, financial reports, and other data to define the financial soundness of a company.
In order to become a financial analyst, you need to have exceptional analytical skills, deep learning of financial markets, and attention to detail. As a financial analyst, you can earn up to 15 lakhs per annum in India.
This would be the perfect option if you like preparing budgets and studying and monitoring costs. As a budget analyst, you have to plan the periodic expenditures and document the actual expenses. Apart from that, they can make strategies to make spending more efficient. For this job, you will either need a master’s degree or prior experience in a related field.
At present, many banks are hiring relationship managers to help their clients decide the financial products and services. In general, these products and services determine the best investment account or mortgage, etc. A relationship manager can earn around 15 lakhs per annum.
Most of the time, these clients are individual account holders or corporate clients. They have to hold a good relationship with their clients. This is one of the most lucrative jobs that you can pursue as a fresher. Yet, you need a specific degree, but you need to have a better grasp of communication and selling skills. You can also complete post-graduate certification in retail banking to become a better relationship manager. In several ways. Then here are some;
- In-depth knowledge of retail banking products and services,
- Strong analytical skills,
- You’ll become eligible to ensure that clients’ accounts are compliant with regulatory requirements,
- You’ll learn to build and maintain relationships with customers.
Summing It Up
The banking sector in India offers a wide array of well-paying job prospects. Whether you’re interested in wealth management, investment banking, risk management, or any other area of the banking sector, you can figure out the best job opportunities in this industry. If you’re looking for guidance throughout your journey to the banking sector, you can rely on IPB.