With the new levels of advancement in technology and commerce, the world is witnessing the rise of a new era in the banking industry. The banking sector comprises consumer finance, daily banking, mortgages, wealth management, large banking and financial institutions, small and medium-sized banks, asset management and capital markets, and investment banking. There is unparalleled growth anticipated in the next five years in India. That is majorly fuelled by expanding the fintech market (more than INR 6 trillion), service innovation, business fundamentals, and policy support. Undoubtedly, the sector offers immense possibilities for gratifying careers in the Banking industry for MBA Ahmedabad and PGDM aspirants.
Let’s delve deep and explore the top profiles and opportunities in the banking sector after an MBA/PGDM. Top Profiles in Banking Sector Relationship Manager
As a Relationship Manager, the candidate will have the chance to interact with the bank’s high-value customers and provide the appropriate banking products across the financial spectrum to fulfill customer demands. It involves proficiency in comprehending the customer’s profile and portfolio and a talent for fostering strong customer relationships. Customers view the delegate as the face of the bank since they will serve as their single point of contact for all banking-related issues. The functional area can be related to business banking, wealth management, trade banking, secure-unsecured loans, business loans, and the SME sector. The position demands seamless collaboration across the bank’s nationwide units to provide better customer service and turnaround times. Top banks such as ICICI pay premium packages between 8-10 LPA to an MBA.
Investment Banker Being an investment banker is ideal for many finance and banking students and aspiring finance MBAs due to its high financial status. The responsibilities of an investment banker include seeking investors and persuading them to purchase bank ventures’ stock. An additional crucial duty of an investment banker is to raise capital for the bank’s projects through public investments. One may take up various roles depending upon the interests, skills, and levels of experience, viz., analysts, associates, and product managers. The annual salary of an investment banker is approximately 10-20 LPA. The top-paying investment banks are Ernest & Young, KPMG, HDFC, JP Morgan Chase, Goldman Sachs, and Morgan Stanley, to name a few.
Private Banker Private bankers operate in wealth management, which primarily encompasses the management and growth of financial assets. These experts offer highly customized services to high-net-worth people (HNWI). They meet with clients to understand their investment objectives, then collaborate with financial experts and other professionals to develop investment strategies to achieve those objectives. These experts offer guidance on cash management, investment management, and secured and unsecured credit. As part of their responsibilities, they must monitor the client’s account to verify that the investment generates the required returns. An average salary of a private banker in India is 8LPA.
Credit Manager Credit managers at banks frequently collaborate with employees from the financial services industry and loan officers. The jobs help banking clients understand the bank’s financial offerings, such as loans, credit lines, and credit cards. It involves outlining the various options, paying attention to the client’s needs, and providing knowledgeable advice for reaching financial goals. Moreover, a credit manager is responsible for determining a customer’s creditworthiness before extending any credit. This includes examining tax returns, bank records, earnings statements, and credit reports. Additionally, the position calls for effective communication abilities and the capacity to explain occasionally complex financial issues in simple terms. The demand for credit managers will increase in the upcoming years due to the popularity of credit goods like easy credits and buy now pay later applications. The average pay scale of a credit manager is 11 LPA.
Bank Operations Manager A banking operations manager contributes to the development, upkeep, and facilitation of a financial institution’s operational procedures. All transaction reports are probably under the supervision of the operations manager, who also ensures that the bank maintains a high standard of accuracy. Moreover, managers in bank operations may also be responsible for coming up with fresh plans or ideas to boost the efficiency or profitability of their branch. This could entail implementing new technological systems, enhancing employee training initiatives, or altering how specific goods or services are offered to clients. The banks prefer mba in finance colleges in ahmedabad for senior bank operation managers positions in India and abroad. The average salary of a bank operations manager in India is 8 LPA.
Opportunities in Banking Sector HDFC In India, HDFC is a privately held financial services company that provides home loans. In addition, it encompasses banking, life, general insurance, asset management, venture capital, and educational financing. The HDFC bank offers between 8 and 10 Lakhs each year to several colleges in Tier 1 and Tier 2 in India. By collaborating with HDFC, you will undoubtedly get visibility and value.
SBI Indian State Bank (SBI) is operational in international Indian financial, financial services institutions, and public sector finance. As a nationalized bank, it offers promising long-term careers for MBA finance aspirants. Undoubtedly, it offers rewarding opportunities from consumer finance to credit and mortgage banking scopes. Individuals can expect salaries between 6 to 10 LPA annually.
Goldman Sachs Goldman Sachs, an investment bank, is one of the largest organizations in the financial industry. It also provides a vast array of other financial services, including fund management, money management, investment consulting, securities brokerage, and retail banking, to mention a few. It is one of the most coveted opportunities and a dream job for any MBA in finance candidate.
Morgan Stanley Morgan Stanley, the second-best investment banking firm after Goldman Sachs, is another golden opportunity for many MBA graduates. In addition to wealth management, the company is also involved in sales, asset management, sustainable investing, and trading. They provide ample opportunities for freshers and experienced professionals equally.
In Closing The banking industry offers a vast array of attractive career paths. Many other businesses, such as Thomson Reuters, Deloitte, and Barclays, are also looking for PGDM in finance graduates. These companies employ both new college graduates and seasoned management. Additionally, these businesses provide internships, a great place to start for any finance graduate.
Let this information on the desirable profiles and chances map your professional path today!
