Are you looking for a job in the finance sector?
Have you studied all your available options?
Have you looked into the scope of this sector in the coming years?
Well, if not, then you must have a look at the following FAQs to know what you’ll be getting yourself into. 👇
How well is the financial services sector growing?
The global financial services market size is expected to grow from $20.4 trillion in 2020 to $28.5 trillion by 2025 at a compound annual growth rate (CAGR) of more than 10%. This growth is led by companies recovering from the COVID-19 impact and rearranging their operations.
What is the scope of the financial sector in India?
The financial sector in India is presently growing at a rate of nearly 8.5% per year. This increased growth rate suggests the growth of the economy.
Also, this growth rate is sustained with stability with India’s financial and monetary policies.
Rising income in the country drives the demand for the financial sector.
What is the market size of financial services in India?
As of 2021, the market size of India’s financial services is $ 500.67 billion with a total number of accounts standing at 114.4 million.
And, the total market value of investment or the AUM managed by the mutual funds industry stood at a whopping Rs. 36.73 trillion as of September 2021.
Is finance a competitive field?
Finance is known to easily pay six or seven figures in salaries and bonuses for the ones working at the top, which automatically means that it is a fiercely competitive field to break into.
Moreover, even the ones on the bottom rung or the freshers get a great kick-starting salary package as compared to other fields.
What are the Different Categories of Highest Paying Finance Jobs Available?
There are plenty of opportunities available in the financial services sector. This is a multi-faceted sector that supports almost every other industry. The different categories of finance jobs can be divided based on these facets or industries served, which include:
- Advisory Service
- Corporate Finance
Now, I’ll discuss each of these categories in detail along with the various job opportunities available in every category.
Start scrolling now to find your dream finance job!
What are the Highest Paying Finance Jobs in India?
Wonder what are the highest paying finance jobs in India? Come, let’s find out!
1. Investment – Highest Paying Finance Jobs
Investment banking is ideally one of the best finance jobs in India as well as abroad and also one of the best career options after 12th in commerce without maths.
The job of an investment banker involves managing the portfolios of government agencies, individuals, and businesses investing in different businesses.
They help clients raise capital by issuing stocks, and borrowing money. They make capital investments in a way intended to help the companies achieve their financial growth goals.
Average Salary in India – 9.5 lac per annum
If you are looking for the best finance jobs in India, then stockbroking is a great option! It is very similar to investment banking, considering that both the profiles involve investing capital with the aim of high returns.
Stockbrokers buy and sell shares for their clients from 9 in the morning till 3.30 p.m.
Now, of course, you must have heard about how risky the stock market is! Does this make the job of a stockbroker risky too?
The answer is NO. Stockbrokers deal in shares with their client’s money. They only charge brokerage as their cut.
Although to become successful in the stock market, stockbrokers spend hefty time studying stocks and the stock market to mitigate the risks involved and offer their clients the best advice.
Average Salary in India – 5-6 lac per annum
While searching for the highest paying banking jobs in India, you must have come across portfolio management. Right?
Well, this is because it has great prospects, both now and in the future. Portfolio management is a beautiful combination of finance and science. So if you have a science background and are interested in finance, you’re in for some luck!
The role of a portfolio manager is to help their clients understand all the various investment tools available in the market and the benefits or risks associated with them. And thus, managing profitable investment allocations.
The main task involved in managing an organization or individual’s portfolio is conducting a SWOT analysis for them. By evaluating the strengths, weaknesses, opportunities, and threats in the domestic and international markets, you make decisions to maximize profits at a negotiated risk.
Average Salary in India – 10 lac per annum
2. Lending – Highest Paying Finance Jobs
Among the highest paying banking jobs in India is the job of a loan officer.
The primary responsibility of a loan officer is to evaluate the documentation and information submitted by loan applicants. Without their approval and authorization, a loan can not be sanctioned.
Further, they complete the loan process by discussing the terms and conditions with the applicants, obtaining the necessary signatures, and collecting the required fees.
There are no restrictions as to the qualification to apply for this job, although a degree with finance or economics specialization is given preference.
Average Salary in India – 6.6 lac per annum
Hedge Fund Manager
Next on the list of highest paying finance jobs is Hedge fund management. Also similar to investment banking, the role of a hedge fund manager involves making investments but at a much higher risk and reward for investors who pool their money and assets to invest in hedge funds.
One thing about this career is that you can not expect a job with typical full-time hours. These professionals start early and finish their day at late hours, studying the dynamics of the market to protect their investors.
Average Salary in India – 15 lac per annum
3. Fintech – Highest Paying Finance Jobs
Did you know?
India will soon be one of the largest digital markets with the rapid expansion of the internet and mobile with over 2,100 fintechs operating at present.
So, what are the best fintech careers? Let’s see!
One of the highest paying finance jobs in IT is IT Auditing. The job of an IT auditor involves confirming that the technology infrastructure adheres to the compliance requirements and other IT needs of the organization.
These professionals usually work with government agencies or private companies and spend their days conducting audits.
Average Salary in India – 8 lac per annum
Financial Software Developer
The demand for software developers is ever-increasing. Which makes financial software development another one of the highest paying finance jobs.
Financial software developers work on creating automated programs to meet the needs of financial agencies, companies, institutions, and end-users.
Average Salary in India – 5.5 lac per annum
4. Advisory Services – Highest Paying Finance Jobs
Another one of the best finance jobs in India is Financial advisory.
Financial advisors help their individuals and organizations in planning their finances by identifying short-term and long-term financial goals.
Average Salary in India – 5 lac per annum
Do you know?
The investment corpus in the Indian insurance sector carries the potential of rising to USD 1 trillion by 2025!
Thus, next on the list of highest paying finance jobs is Insurance Advisory.
These professionals are responsible for providing their clients with the best insurance products that meet their long-term and short-term insurance needs.
They provide advice on purchasing decisions concerning insurance for lives, homes, investments, automobiles, etc.
Average Salary in India – 4 lac per annum
5. Corporate Finance – Highest Paying Finance Jobs
Chief Financial Officers
CFO qualifies for not just the highest paying finance jobs but the overall highest paying jobs across any sector and industry!
CFOs work at the top of the management executive hierarchy and oversee budgeting, make cost-related decisions concerning technology infrastructure, marketing, and manage the financial teams.
They supervise all financial actions in an organization and head the decision-making regarding the capital structure and cash flow of the company.
Average Salary in India – 35 lac per annum
Chief Risk Officer
The list of highest paying finance jobs would be incomplete without CRO.
A Chief Risk Officer also operates at the top of the management hierarchy and is tasked with the identification, evaluation, and elimination of internal and external risks in a company.
The types of risk mitigated by the CRO can be regulatory, competitive, or even technological threats.
Average Salary in India – 25 lac per annum
Any business, whether a large corporate house or a small agency has to work adhering to the standards set by the respective governing authorities.
When it comes to the finance industry, compliance is critical for the long-term stability and growth of an organization. And, compliance analysts make sure that a business is complying with these regulations.
Average Salary in India – 5 lac per annum
6. Accounting – Highest Paying Finance Jobs
Many will argue that the job of a CA is not a finance job, since accounting and finance are two different concepts. While the fact is that accounting is also a part of finance, although finance is a much broader concept.
One of the highest paying finance jobs under accounting is Chartered accountancy. It is also a great career option for those studying commerce with maths.
Unlike the other jobs on this list, you can not be a CA without the necessary certification. You have to go through a long examination process spread over different groups and a sufficient internship period, before starting your career.
Average Salary in India – 8 lac per annum
Senior accountants work at the top of the accounting hierarchy. They ensure that every department of the organization sticks to the budget.
They also oversee the corporate expenses and work towards meeting the organizational accounting goals.
Average Salary in India – 6 lac per annum
So, now that you know that there are multiple branches in a finance career, each requiring a special set of skills and abilities, which one do you think suits you the best?
You have to make an informed decision.
Weigh all the pros and cons. Conduct a personal SWOT analysis for yourself. And, then arrive at a decision.
I will be waiting for your replies in the comment box below.
And feel free to hit me up if you have any queries. I’ll be happy to help you!