What’s there in Finance Industry?
Finance Industry mainly provide financial services to corporate units, other Institutes and Individuals also, which help them to fill the gap between the existing potential and availability of resources. The Finance Industry led their client or customer to provide the money for their personal use for individuals and for opening, establishing and running new or existing business.
The Finance Industry mainly include financial institutions like banks, credit lending (financing) companies, Insurance companies, Investment bank and institutes, security trader, security exchanges and Financial planners etc.
India is known for having strong financial system than the developed nations. This makes the financial system in India to provide the most secured jobs. The Salaries in Financial sector is also among the highest one. Thus, it attract the best and talented workforce.
Government is planning to financial expansion through the policy of Financial inclusion. The government is trying to expand the services into rural areas also. For, this they had introduced the Prime Minister Jan Dhan Yojna.
Career in Financial Industry
Jobs in Finance Industry is highly lucrative. The Industry hire the graduate employees of assistance level. The professionals in the industry are having the special degree or professional qualification of finance. For the assistance level they are having the centralised examination conducted by IBPS and the creamy layer comes through that examination. For the Management level, they need the professional degree like MBA in finance, CFA (Chartered Financial Analyst), CA (Chartered Accountant), CS (Company Secretary), ICWA (The Institute of Cost Accountants) and MBA in Finance or in any other specialization in finance. There are other specialised course which focus in the specialised financial channels like courses for finance analyst, trading analyst, credit analyst, advisor etc.
Salaries of Finance Industry in Major Metropolitan cities
The major Metropolitan cities are Delhi,Mumbai, Chennai and Bangalore. Mumbai is known to be the hub of financial Institutes and finance service provider. The headquarter of bank’s regulatory body, Reserve Bank of India is in Mumbai. Various Financial regulatory bodies having their headquarter in Mumbai.
|Designation||Low Salary||High Salary||Low Salary||High Salary|
|CRM/ Phone Banking||275000||325000||275000||325000|
|Forex Operations Manager||2500||300000||250000||300000|
We can see in the table that lowest salaries are almost all the professionals in finance industry.
Salaries of degree holders in Finance Industry
Chartered accountants are earning the annual average package of Rs. 5.9 lakh. The CFA (Chartered Financial Analyst) degree holder are getting average annual package of Rs. 5.7 lakh. The CS (Company Secretary) and CWA (Cost and Work Accountant) degree holder are getting the almost the similar packages. Salaries of MBA in finance degree holder are shown in the given table.
Salaries of MBA in Finance in India
|Financial Analyst||Rs. 2.1 to Rs 9.5 lakh|
|Business Analyst||Rs. 3.5 to Rs. 13 lakh|
|Finance Manager||Rs. 3 to Rs. 18 lakh|
|Senior Financial Analyst||Rs. 3.2 to Rs. 12 lakh|
|Research Analyst||Rs. 1.8 to Rs. 10 lakh|