Private Bank Jobs
When you search for jobs anywhere, you often have to dig deep for roles that are similar to the one you are looking for. If you are looking at a particularly appealing career field, the first thing you are concerned about is how many opportunities you will get in that particular domain. Then comes the talk of how well these opportunities pay you. For anyone particularly keen on the finance sector, there are a few broad categories that offer good roles for you. These include jobs such as accounting and investment, fintech, lending and advisory services and corporate finance to name just a few.
It’s well-known that the BFSI or the banking, financial services and insurance industry provides many excellent lucrative career opportunities for those keen on this sector. You can get plenty of excellent career opportunities in areas like banking, accounting, economics, statistics and finance to name just a handful. This is an area of expertise for those who are good with numbers, have a brilliant eye for mathematics and have powerful analytical skills. If you carry with you the required educational qualifications, you can certainly be deemed qualified to seek job opportunities in these domains.
If the finance industry calls out to you, then having a keen knowledge about the different job opportunities in this sector will certainly help you decide on whether this is a field that suits you. Read through our blog to know more about the top high paying jobs in the financial sector as well as a rough estimate of how much you can earn in this domain. You should be aware that the salary that is paid to employees in each of these domains may vary depending on the hiring organisation and a candidate's experience, academic background and location. So what are you waiting for? Read on to know what the highest paying finance sector jobs are!
As mentioned above, the finance industry offers lucrative job opportunities with excellent pay. All you need to do is know where to look and what kind of job appeals to your skillsets and your abilities. We have compiled a list of some high paying jobs in the finance sector below.
The loan officer is a professional who takes a keen look at the loan applications and checks the applicant's eligibility. They interview these applicants and decide whether they should be granted either business or personal loans. Their major responsibilities include reviewing of the applicant’s loan documentations. They also set up debit payments and speak to their clients on the terms of the loans, along with policies and restrictions. They also maintain the client account records and ensure that they are compliant to the lending guidelines of the bank and the regulatory authority, in this case the RBI. A loan officer also has the duty of reviewing loan applicants and authorizing approval of said loans. If you see yourself becoming a loan officer, the educational qualification you need is a bachelor's degree in finance or related fields like accounting or business. Loan Officers are paid a base salary of ₹ 4,60,000 per year.
The insurance agent is responsible for creating an initiative to bring new clients to the organizations. They discuss the insurance requirements and speak to prospective clients about the offerings for the insurance product. The insurance agent acts for the client’s welfare and give out suggestions that are solely in their interest. They also help in identifying and setting up the right insurance for the client’s needs. This means that the agent must have a thorough knowledge of the product they sell and should be able to speak to the client about each product. Though insurance agents work with the clients, it is not they who pay the agents. Instead, the agent earns commissions based on the sales they bring. An insurance agent can begin working after they finish school although a bachelor’s degree in economics, finance and insurance is a plus. Insurance agents earn an average base salary of ₹ 3,05,762 per year without including the commissions.
The Stock Market Trader or a stockbroker is a person who buys or sells shares, stocks, foreign currencies, bonds or even commodities of any sort. They also engage in the trade of financial instruments. A stockbroker studies and analyzes the present market trends, financial data, pricing patterns and market reactions. By doing so, they also observe and wait for trading opportunities that are far more profitable for them. A stock trader can either work for a financial institute or they can do as a freelancer. You would need a graduate degree and some practical experience in stock trading is necessary if you want to begin a career as a stock trader. A stock trader can earn a base salary of ₹ 3,54,795 per year.
A Financial advisor is a professional who can identify both short term and long-term financial goal of their clients. They then recommend the best products and services that will help the client achieve said goals. To make you understand, let's take the example of an insurance advisor. They help in researching and suggesting the right insurance offers to their client. They do so only after thorough research and a deep-seated understanding of what the insurance product offers the client. The financial advisor also takes help from underwriting and risk managers to implement various tasks related to their job. They are also responsible for providing the right direction to the customer regarding the product or service they offer. The finance advisor requires a degree in any finance-related subjects, and they should have excellent relationship management and communication skills. The financial advisor earns an estimated base salary of ₹ 6,00,000 per year.
The compliance analyst is a financial professional responsible for auditing a business. They need to do this to make sure that said business obeys and follows all the financial regulations and rules set forth by governing agencies like the RBI and the Indian Government. The compliance analyst reviews the company data and financial transactions. They also check the legal information provided to make sure that all compliance requirements have been met. A compliance analyst generally needs to have a bachelor's degree in financial agreement, accounting and other subjects that are related to the industry and their skillset. They earn an estimated base salary of ₹ 5,61,417 per year.
A credit analyst is like a loan officer in some ways. But their primary responsibility lies in performing a deep study of the financial records of those who have applied for loans. Then, they decide if these applicants should be granted loans or not. They verify the financial documents of the applicants and perform a detailed study of the applicant's income, expenditure, their pending debts and their payment history. They also study the applicants' credit risks and the credit limits. Credit analysts often work with credit card companies, banking or financial institutes. Credit analysts need a bachelor's degree in finance, accounting or economics. A credit analyst earns an average base salary of ₹ 6,50,787 per year.
The Hedge fund manager is responsible for making the right investment decisions for their clients. They need to make sure that said investment decisions are risk free and the returns are high. The major responsibility of a Hedge fund manager is to aid investors to achieve their investment objectives. Along with that, they also analyze and study the market trends. They also suggest the best investment options for the clients that are profitable for them. A Hedge fund manager will need a bachelor's degree in business administration or a degree in commerce or economics. They earn an average base salary of ₹ 5,57,653 per year.
A financial planning analyst helps to study financial information and helps the company's senior leadership in fiscal planning and management. They also have the responsibility of analyzing and making predictions on different financial outcomes. Along with that, they also recommend new actions that are parallel to the company's aims for growth. They also conduct asset valuations while preparing financial reports for the company's senior leadership. If they spot any financial irregularities, they are bound to report that to the senior management and provide monitoring for the same. The financial planning analyst needs a bachelor's or a master's degree in accounting, economics, statistics, mathematics or engineering. The estimated base salary of a financial planning analyst is ₹ 7,68,276 per year.
A private equity associate is responsible for handling the procedure of sourcing, maintaining and exiting from an investment position. They help in studying the company's market capital and business operations. After doing that, they provide long-term strategies to them. These associates have the responsibility of introducing new business ideas, handling market research on prospective client acquisition and structure the models of evaluation. Along with these duties, they also review the financial report of the organization. If you want to become a private equity associate, you need an MBA (Master of Business Administration) or a degree in finance, mathematics, accounting or economics. You also need a few years of experience in this field. A private equity associate can earn a base salary of ₹ 9,00,527 per year.
Chartered Accountants are responsible for maintaining the book of records, balancing the financial sheet and filing tax returns. Along with that, they also prepare financial reports and arrange the profit and loss statements of the company. A chartered accountant's central responsibility is to provide the right investment suggestions to the company. Along with that, they also need to audit the account prepared by others in the organizations. They must also provide their assistance and input when it comes to tax procedures and make sure of the client's compliance. They can either work for established firms or work independently after clearing their articleship. The average base salary of a chartered accountant is ₹ 3,23,462 per year.
The major role of an investment banker is buying and selling the assets so that they can raise more capital on the client's behalf. Investment bankers can identify new business opportunities and implement long and short-term strategies for the same. They also help their clients and make them understand trading, sales, financial research, wealth management and IPOs. They do this so that clients will be able to invest their wealth wisely without incurring losses. An investment banker must also manage the IPOs of the company and compile with the legal requirements which have been established by the Indian Government and the RBI. Investment bankers need a minimum of a bachelor's degree in finance, commerce, economics, business administration and mathematics. The average estimated base salary of an investment banker is ₹ 4,91,064 per year.
The risk manager is responsible for identifying and communicating the company's risk policies and processes. They study business contracts, debts, liabilities and risk exposures. They also use this information to analyze and research the risks that can occur to the company based on this. Risk managers help to determine how big an impact the risk taking has had on the company. By doing so, they help in reducing the said risk by coming up with the right plan to help the business reduce it. You need an MBA degree in Risk Management or a degree in finance, accounting or economics to become a risk manager. You can earn an estimated base salary of ₹ 8,35,031 per year as a risk manager.
An actuary uses their mathematical skills, their abilities in statistical and theoretical aspects of finance to study the risks of financial investment. Once they do so, they help the client come up with plans and policies that can reduce the cost of this risk. They understand and study all database software to gather all the details they need. Along with that, they also understand the estimated cost of unexpected events like calamities, accidents or other natural disasters. You need a background in statistics, mathematics or even actuarial science to become an actuary. An actuary can earn an estimated base salary of ₹ 8,47,929 per year.
By now you must be aware of how large a role the finance sector in India plays when it comes to the country's economic development, workforce creation, and general welfare. This is why there is a high demand for financial professionals in India. Platforms like Beeinjobs help provide openings and help fresh graduates looking for new jobs gain the stronghold they are looking for in the finance sector.
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