Is banking a good career in India? Here is a breakdown of the opportunities (2024)

NABARD has managers of two grades- A and B. To become a group A officer, one needs either a graduation degree or/MBA/CA. For group B, one should pass with at least 60% marks.

Highest-paying banking jobs in India

Bank jobs are considered one of the highest-paying and most lucrative jobs out there.We have listed some of the highest-paying roles in a bank in India –

  1. Internal Auditor –Internal auditorevaluates a bank’s financesand risk management. In order to facilitate better profits, an internal auditor provides ideas and suggestions to streamline the bank’s financial transactions. It is probably one of thehighest-paying roles in banking, with an annual salary of over 40 lacs INR.
  2. Equity Trader –An equity trader is responsible for advising on the stock exchange provided by the respective bank. Equity traders make decisions by studying and analyzing the financial risks and market conditions and are also in charge of handling the funds. The annual salary of an equity trader is around 49 lacs INR.
  3. Bank Manager –A Bank Manager handles all the bank matters. Fromthe functioning of the bank to customer care and management, he has to supervise everything. The annual salary of a bank manager from a reputed bank is around 40 lacs INR.
  4. Investment Banker-Due to it being a financially high-profile job, an investment banker is the dream job of many finance students and aspirants. They have various responsibilities such asscouting for investors and convincing them to purchase stockfrom the respective bank’s projects and conducting fundraising for the bank’s projects through public investments. An investment banker is paid around 70 lacs INR yearly.
  5. Foreign Exchange Trader –A Forex trader studies the worldwide currency market and comes up with ways to increase the country’s currency value. As the currency value fluctuates, work in this field can be very taxing and often stressful.Forex trading is one of the most lucrative roles in the banking sector.On average he would make around 65 lacs INR per year.

How can I get a job in the banking sectorin India?

The banking sector continues to grow and is providing exciting job opportunities even post covid.

Due to job stability and loans at discounted interest rates, it is an excellent sector to make a career in. One can get a job in the banking sector by fulfilling the following requirements:

1. EligibilityCriteria –In terms of educational qualifications, for public sector banks, graduation is the minimum requirement.

Candidates need to have anywhere between 55-60% in their final year exam. Depending on the position applied for, candidates need to be between 18 and 30 years of age.

Private sector banks tend to prefer MBAs with knowledge of finance and banking.

2. Crack Entrance Exam (for Public Sector Banks) –

For employment in public sector banks, one needs to appear for abanking exam. These exams are conducted by the Institute of Banking Personnel Selection (IBPS) and SBI.

Some of these exams are as follows:

  • SBI PO (Probationary officer)
  • SBI SO (Specialist officer)
  • SBI Clerk
  • IBPS Clerk
  • IBPS RRB (Regional Rural Banks)
  • Reserve Bank of India Officer Grade B &C

Typically, these exams involve testing candidates on reasoning ability, quantitative aptitude, English language skills, and general awareness of the economy and banking.

Depending on your skills, you may need up to 6 months to prepare for IBPS exams.

3 Match the Requirements on Job Portals –Private sector banks list their job requirements on various job portals. If the job vacancy is for an audit specialist, one needs technical knowledge of finance & accounting.

4 Create a proper CV –The banking industry places a lot of emphasis on the professionalism of a CV. You should highlight your analytical skills and financial literacy, communication skills on the CV. Attach a professional picture to your CV as well.

5. Update Your LinkedIn Profile –You should update your LinkedIn profile with the right headline and right content suited for the banking industry.

Toknow more about the requirements of this sector, you can join groups related to Bankingcareers. You can follow people from the HR departments of a leading bank. That way you can stay updated on job vacancies.

6. Invest in Quality Banking Education –One way to enter the banking industry is by investing in a professional banking course. Banking is a huge industry and has unique educational requirements. The course also covers the latest developments in banking and finance, including AI in banking, digital finance, blockchain, cryptocurrency, and digital fraud.

Hierarchy in private sector banks

ICICI Bank Hierarchy

ICICI Bank is a leading private sector bank in India headquartered in Mumbai. This development finance institution has anetwork of 5,275 branchesacross India and is present in 17 countries.

  • Senior Officer
  • Assistant Manager Band 1
  • Assistant Manager Band 2
  • Deputy Manager DM1
  • Deputy Manager DM2
  • Manager MM1
  • Manager MM2
  • Chief Manager CM1
  • Chief Manager CM2
  • Assistant General Manager AGM
  • Deputy General Manager DGM
  • General Manager GM
  • Joint General Manager JGM
  • Senior General Manager SGM 1
  • Senior General Manager SGM 2
  • Executive Director (ED)
  • Managing Director (MD) and Chief Executive Officer (CEO)

The hierarchy at HDFC Bank

HDFC Bank is one of India’s leading banks, providing a wide range of financial products & services across hundreds of Indian cities.

The bank has emerged as a key player in retail banking,wholesale banking, & treasury operations, its three principal business segments.

  • E1 Assistant Manager
  • E2 Deputy Manager
  • E3 Manager
  • E4 Senior Manager
  • D1 Assistant Vice President
  • D2 Deputy Vice President
  • D3 Vice President
  • D4 Senior Vice President
  • D5 Senior Vice President
  • C1(Executive Vice President)
  • C2 Executive Vice President
  • CX Group Head (Cluster Head)
  • EDExecutive Director
  • MD Managing Director and CEO – Chief Executive Officer


Q. Which is better for the job, a private bank or a government bank?

Public sector banks are known for their superior organizational structure and greater customer penetration.

However, the work environment is less competitive than that of privately held banks. As a result, professionals frequently fail to focus on meeting goals and being the best performer in their teams.

Q. Top private banks in India by market capitalization?

  • HDFC Bank
  • ICICI Bank
  • Kotak Mahindra Bank Ltd
  • Axis Bank Ltd
  • IndusInd Bank Ltd
  • Yes Bank Ltd
  • IDFC First Bank Ltd
  • Federal Bank Ltd
  • Bandhan Bank Ltd
  • South Indian Bank Ltd

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Is banking a good career in India? Here is a breakdown of the opportunities (2024)


Is banking a good career option in India? ›

A career in banking is lucrative as it offers competitive salaries and an opportunity to work in the finance industry. The minimum qualification needed for a job in Banking is a Bachelor's degree in either of these subjects; Finance, Economics, Banking, Commerce, or management-related specialization.

Is banking a good career to get into? ›

Banking is one such industry that continues to thrive despite economic fluctuations. Whether you're interested in finance, accounting, or customer service, a banking career can provide you with a fulfilling and rewarding professional journey.

Is a bank job stressful in India? ›

Research to date has indicated that there is a high prevalence of mental health issues in the banking sector as compared to other occupational sectors, and that bank employees present with low levels of wellbeing and are mostly stressed due to higher job demands, dissatisfaction with working conditions, lack of support ...

Is banking sector booming in India? ›

CareEdge Ratings estimates bank credit growth in India to be in the range of 14-14.5 per cent in financial year 2024-25. In current financial year 2023-24, credit offtake is anticipated to close with a growth of around 16 per cent excluding the HDFC merger.

What is the future outlook of banking industry in India? ›

The banking sector is poised to grow at a rapid pace by digitising financial services dissemination, further formalising credit to micro, small and medium enterprises (MSMEs), adopting innovative digital operating models, adapting to the continuously evolving landscape, benefiting from the adoption of emerging ...

Is private banking a good career in India? ›

10 Best Career Opportunities in Private Banks With Salary: A career in private banks is financially rewarding since it provides competitive pay and the chance to work in the finance sector. This is because the majority of banking positions are highly sought-after due to the skilled nature of the work.

Is banking a stable career? ›

Major banks are considered a good career path because of the diverse job opportunities available in this industry. Working at major banks is one of the best ways to ensure job security and stability in a banking career.

Are bank jobs hard to get? ›

The bank had an acceptance rate of 0.33% for all applicants last year. Luckily, the internship was slightly easier to get into – 1.27%. Every little helps, we suppose. If you want to get into banking, you need to work very hard, exhaust every opportunity you have, and really, genuinely, be a little bit lucky.

Which field is best for banking? ›

Here are some best courses in banking:
  • Chartered Financial Analyst (CFA)
  • Certified Public Accountant (CPA)
  • Commercial Banking & Credit Analyst (CBCA)
  • Financial Risk Manager (FRM)
  • Master's in Business Administration (MBA)
  • Related Resources.
Apr 15, 2024

What are bank salaries in India? ›

Banker salary in India ranges between ₹ 1.5 Lakhs to ₹ 7.5 Lakhs with an average annual salary of ₹ 4.5 Lakhs. Salary estimates are based on 1.8k latest salaries received from Bankers.

Which job is very hard in India? ›

Soldiers: Facing life-threatening situations, enduring harsh conditions, and making significant personal sacrifices. Firefighters: Battling blazes, rescuing people, and working in unpredictable environments. Construction workers: Exposed to physical hazards, long hours, and demanding tasks.

Which bank in India gives highest salary to employees? ›

State Bank of India (SBI) provides the highest salary among all public sector banks in India. They will give an enormous amount of pay along with handsome perks, allowances, and benefits to the employees. SBI PO is one of the most demandable and desirable jobs in the Banking sector.

Is it easy to get bank job in India? ›

Getting a bank job in India requires a combination of education, skills, and preparation. By understanding the eligibility criteria, application process, and key skills required, aspiring bankers can increase their chances of success in this competitive and rewarding industry.

Are banks profitable in India? ›

Fitch Ratings-Mumbai-26 March 2024: Indian banks' profitability is likely to continue to improve, although net interest margin (NIM) compression will limit earnings upside over the medium term, says Fitch Ratings.

Which banking job is best in India? ›

For those seeking a career in banking, here are some of the top high paying and popular bank jobs in India.
  • Investment Banker. Investment banking is one of the most lucrative careers in the banking sector. ...
  • Wealth Manager. ...
  • Risk Manager. ...
  • Credit Analyst. ...
  • Branch Manager. ...
  • Financial Analyst. ...
  • Relationship Manager. ...
  • Treasury Manager.
Feb 25, 2023

Which bank job has highest salary in India? ›

Highest Paying Bank Jobs in India – Summary
Job TitleSalary (Annual)
Bank Manager40 lakhs
Investment Banker70 lakhs
Foreign Exchange Trader65 lakhs
Relationship Manager40 lakhs – 60 lakhs
4 more rows
Oct 27, 2023

How much a banker earns in India? ›

Banker salary in India ranges between ₹ 1.5 Lakhs to ₹ 7.3 Lakhs with an average annual salary of ₹ 4.5 Lakhs. Salary estimates are based on 1.8k latest salaries received from Bankers.

Which bank pays highest salary in India? ›

State Bank of India (SBI) provides the highest salary among all public sector banks in India. They will give an enormous amount of pay along with handsome perks, allowances, and benefits to the employees. SBI PO is one of the most demandable and desirable jobs in the Banking sector.


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