India is home to a vast network of banks and non-financial banking institutions.
The Indian banking structure can be broken down as:
- 12 Public Sector Banks
- 22 Private Sector Banks
- 46 Foreign Banks
- 56 Regional Rural Banks
- 1,485 Urban Cooperative Banks
- 96,000 Rural Cooperative Banks
And, to give you an insight into the banking job vacancies in India, here is a little statistic, as on 1.12. 2021, there were 41,177 vacant posts in the Public Sector Banks alone!
Now, this might seem like it is easy to get a banking job in India. Unfortunately, that’s not the case. The competition is pretty stiff.
Tens of lakhs of candidates appear for banking exams each year in India. While the number of qualified candidates translates to a mere 2.8% of the total candidates.
So, if you are looking for a career in the banking sector, you’re gonna want to have all the options in your clear sight.
So, here it is! All the highest paying banking jobs in India which you must apply for! 👇
Highest Paying Banking Jobs in India
(Scroll down to find out the average salary for each job post!)
1. Bank Branch Manager – Highest Paying Banking Jobs in India
One of the highest paying bank jobs in India is that of a bank branch manager. As the branch manager, one is responsible for handling the entire operations of a particular branch of the bank that they are posted to.
A branch manager looks into the daily activities of a bank, oversees loan advancements and policy selling, handles client complaints, and most importantly – manages the team.
And, thus leadership is one of the key skills for a bank branch manager.
2. Foreign Exchange Trader – Highest Paying Banking Jobs in India
Next on the list of highest paying bank jobs in India is a Forex Trader. Forex is one of the most crucial assets for banks. And as you must know, the value of currencies from around the world keeps on appreciating and depreciating.
This is where foreign exchange traders come into the picture. In order to be a successful forex trader, one must study the currency market up close and make decisions as per their judgment of the value of currencies.
Now, *a point to be noted* is that this is the right career option for you only if you are willing to take high risks as currency is subject to massive fluctuations.
And, if you think this is the right job for you, then go for a bachelor’s degree in maths, economics or statistics to get started.
3. Budget Analyst – Highest Paying Banking Jobs in India
If you enjoy preparing budgets, and analyzing and monitoring expenses then this might be the perfect job for you. And, not to forget that this is also one of the highest paying bank jobs in India.
The responsibilities of a budget analyst involve planning the periodic expenses and reporting on the actual expenses. They are also expected to recommend ways to make spending more efficient.
Now, one important thing to discuss here is that an analyst’s job usually asks for prior experience in a related field or at least a master’s degree.
4. Equity Trader – Highest Paying Banking Jobs in India
Wonder which are the banking jobs for freshers? Well, I can assure you, Equity Trading is one of them.
The basic role of an equity trader is to buy and sell stocks — plus options, futures, commodities, and derivatives — on behalf of a financial institution and its clients.
Now, an equity trader might also act as a consultant and work on developing strategies through which clients can track historical data and predict how the markets will move.
Equity traders also offer advisory on the stock exchange provided by the bank they work for.
5. Investment Banker – Highest Paying Banking Jobs in India
Another one of the highest paying bank jobs in India is investment banking. It is also among the list of the highest paying finance jobs in India as well as abroad!
The key responsibilities of an investment banker involve managing an investing organization’s investment portfolio.
They help a bank raise capital by issuing stocks or borrowing money. In other words, they keep track of the money invested in different entities or portfolios to optimize the return and achieve financial goals.
Investment bankers also offer financial advice during critical transactions like mergers and acquisitions that bring in the most financial gains for investment banks.
6. Relationship Manager – Highest Paying Banking Jobs in India
Most banks today hire bank relationship managers to work with their clients on determining the (financial) products and services that best fit their needs. These products or services include deciding on the best mortgage or investment account etc.
In this way, a relationship manager manages the wealth of a bank’s clients. Often, these clients are individual account holders or corporate clients.
A key responsibility of a relationship manager is to maintain good relations with clients.
A relationship manager is one of the best banking jobs for freshers as you can get a job right after your graduation. Although, it does not require a specific degree. Excellent communication and selling skills, though, are a must.
7. Auditor – Highest Paying Banking Jobs in India
Auditing is, without a doubt, one of the most respectable and highest paying banking jobs in India. Auditors are accounting professionals who prepare and examine the financial records of entities.
Auditors are responsible for fact-checking financial records, preparing tax returns, and ensuring financial statements’ compliance with laws and regulations.
It is not simple to bag an auditing job. The field is monitored closely by regulatory agencies which have set the legal requirements for an auditor. Thus, an auditor in India needs to have a Chartered Accountant degree by ICAI or a Certified Public Accountant license.
And, in the case of government jobs, one must have also qualified for the IBPS exam, in addition to the CA or CPA licensing.
List of Highest Paying Government Banking Jobs
Please note that you can not bag a government banking job without qualifying for a relevant exam.
Yes! All the government banks have put up selection criteria that start by qualifying one or more exam(s).
To know about all the exams conducted by public banks, their syllabus, qualifying criteria, etc., click here.
8. Bank PO (SBI/IBPS/IBPS RRB) – Government Banking Jobs
Bank probationary officer (PO) is one of the best government banking jobs for freshers. It is an entry-level officer post with a decent pay structure and working opportunities.
A bank PO’s responsibilities involve handling daily customer transactions, processing loans, and drafting insurance on a regular basis. As a bank PO, one must have excellent communication skills and knowledge of finance and marketing.
Click the link given above to understand the examination pattern for the bank PO post.
9. RBI Grade B – Government Banking Jobs
The Reserve Bank of India (RBI) is India’s apex governing and regulating body of the entire banking system of India. Understandably, the selection is based on a national-level examination that tests a candidate at various levels.
RBI Grade B is one of the best government banking jobs with various vacancies in various departments including General, Department of Economic Policy & Research (DEPR), and Department of Statistics and Information Management (DESM).
10. RBI Assistant – Government Banking Jobs
Now, since you know that RBI is the lead authority in the banking sector, even assistant-level jobs are worth it! It is one of the best government banking jobs for freshers.
The day-to-day responsibilities of an RBI Assistant include data entry, ledger maintenance, and regular balance tally.
11. NABARD Grade A & B Officer – Government Banking Jobs
National Bank for Agriculture and Rural Development (NABARD) is the regulating body for the overall operations and licensing of regional rural banks (RRBs). The main aim of NABARD is to promote sustainable agriculture and rural development.
The NABARD Grade A & B jobs are very lucrative. Both the posts involve managerial responsibilities like maintaining customer support, ensuring the smooth functioning of the office, monitoring the accounting procedures, etc.
The selection is based on a three-phase process that you can read in detail about with the link given above.
12. NABARD Development Assistant – Government Banking Jobs
The final one on the list of government banking jobs is NABARD development assistant. It is an assistant-level position with mainly clerical responsibilities.
The minimum eligibility criteria for the post is 50% marks in graduation in any stream and the mandatory examinations.
You can read more about how to apply for bank jobs after class 12 by clicking here.
List of Bank Posts and Salary
Here’s the list of highest paying bank jobs and the average salaries offered.
|Bank Post||Average Salary (lakhs p.a.)|
|Bank Branch Manager||7.9|
|Foreign Exchange Trader||7.5|
|Bank PO (SBI/IBPS/IBPS RRB)||7.5-12.9|
|RBI Grade B||9.2|
|NABARD Grade A & B Officer||7.5|
|NABARD Development Assistant||3.8|
Which Private Bank Pays Highest Salary in India?
Here’s the list of the top 3 highest paying private banks in India.
- HDFC Bank
- ICICI bank
- Axis Bank
While the State Bank of India (SBI) is the highest paying government bank in India.
If you want to choose banking as a career option, it will be good to choose subjects like economics, accountancy, mathematics, etc.
And, if you are looking to change your career path to banking, it would be great to consider taking up an advanced certification course or a PG diploma that meets your learning goals.
Rest assured, both private and government banking jobs pay lucratively. But, in both sectors, upskilling is the key to moving up the hierarchy ladder.
To qualify for government banking job exams, you should start preparing at least three to six months ahead.
So, this was all about the highest-paying banking jobs in India. If you have any queries regarding the article hit us up on the 9to5Job.in Forum. Our experts will help you choose the right career path for you!