Banking, Finance & Insurance Career Guide: Roles, Salary 2025 & Future Scope

Updated on Oct 4, 2022 07:39 IST
Vidhi Jain

Vidhi JainContent Writer

A career in banking sector produces so many job opportunities for qualified banking professionals that can provide several services like risk management, loans and investments, stock analysis, and many more. Presently, bank careers are a popular option among students as the high demand for banking professionals with particular knowledge and skills because of the rapid expansion and evolution of bank products and services.

A student who wants to start a career in banking sector must pursue the relevant course or clear the relevant competitive exam. The banking course covers several topics like asset handling, advances or loans, history of banking, investments and trust activities and so on. It also includes credit management, investment banking, commercial banking and trade finance.

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Top Careers in the Banking Sector

The banking sector is one of the important parts of an economy. There are several careers to choose from in the banking sector –

  1. Financial Accountant – The main responsibilities of a financial accountant include managing tax payments, preparing budgets and internal audits.
  2. Equity Analyst – The main work of equity analysts is to produce projections, research reports, and recommendations for organisations and stocks.
  3. Bank Manager – A bank manager supervises a specific bank branch, leads their employers and looks after daily operations.
  4. Financial Risk Manager – The main work of financial risk managers is to examine and identify earning capacity and threats to the assets or success of a business.
  5. Investment Banker – They deal with several financial processes of investment ventures that organisations accept. 

Some other popular bank careers are Foreign Exchange, Loan Officer, Assistant Manager, Business Analyst, Audit Clerks, Financial Risk Manager, Internal Auditor, Foreign Exchange Trader, Book-Keeper, Credit Analyst, Bank Teller and Financial Manager.

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Scope of Banking in India

The banking sector is considered the backbone of the Indian economy, which not only supports the economy and trade of the country but also provides good employment opportunities for students from all streams - Humanities, Science, and Commerce. Let’s look at some more bank careers.

National Bank of Agriculture and Rural Development – The main scheme aim of the NABARD is to offer funds for the rural infrastructure of India to allow long-term irrigation practices.

IBPS (Institute of Banking Personnel Selection) – It is one of the central recruitment agencies under the Ministry of Finance in the Government of India. The main goal of this recruitment agency is to promote the placement of graduates in several public sector banks except for the State Bank of India in our country.

State Bank of India Probationary Officer – The Probationary Officer of State Bank of India supervises customer service, opening bank accounts, processing loans, clerical activities, and many more.

SBI Clerkship – The main responsibility of SBI Clerks is to open the bank accounts and look after those transactions linked with handling chequebook requests, issuing demand drafts, transferring money using several payment modes, the NEFT/RTGS, and many more.

IBPS Regional Rural Banks (RRB) Officer – The main work of an IBPS RRB PO is to prepare the audit reports, NPA (Non-Performing Assets), loan disbursement & credit portfolio rating, and manages daily operations of the bank.

Average Banking Salary in India

The average salary of an individual working in a Bank in India is about INR 34,700 monthly. The average salary ranges of a person working in a Bank between INR 10,900 (lowest average) and INR 71,300 (highest standard, the actual maximum salary is higher). The wages of individuals who work in a bank differ on the basis of the post.

Banking Job Title

Average Salary (Monthly in INR)

Assistant Bank Branch Manager

41,800

Bank Operations Head

67,900

Credit and Collections Manager

47,000

Direct Bank Sales Representative

24,700

Financial Banking Systems Manager

47,500            

Loan Area Manager

42,300

Mortgage Development Manager

44,700

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Top Recruiters of Banking

The banking sector offers services and is a very important field that offers many jobs worldwide for those youngsters who want to work in the banking sector. If you want to start a banking career, then there are several top recruiters of the bank given below –

  • York & Associates
  • Anderson Young Associates Inc.
  • Kershner & Co
  • Marvel Consultants
  • e-FinancialCareers
  • Russell Stephens LLC
  • Babich & Associates
  • The EMAC Group
  • Kaplan Partners
  • Smith & Wilkinson
  • Phoenix Group International
  • Bradsby Group
  • Analytic Recruiting Inc.
  • Financial Recruiters LLC

Top Banking Colleges for Placement

The MBA in banking college train and equip students for pursuing business, financial services, and accounting careers. There are several colleges in India for banking courses with good placement records in India. A few of them are listed below –

MBA in Banking Colleges for Placements

Highest CTC in INR

WeSchool Mumbai

19.73 LPA

IFMR GSB Sri City

13.6 LPA

IMI Delhi

23.75 LPA

Alliance University

7.2 LPA

IMT Ghaziabad

14.00 LPA

Also Read:

FAQs on Bank Careers

Q: To what extent is it correct to say that Banking has a lot of career options?

A: It is 100% correct to say that Banking has a lot of career options as  the banking sector is said to be one of the largest contributors of the Indian economy.

Q:  Why should an individual choose bank careers over other fields?

A: An individual should choose Banking over any other career option since this is a high in-demand domain and offers jobs that are secure and rewarding.

Q: What are some giant recruiters from the Banking industry?

A: Anderson Young Associates Inc, Kershner & Co, Marvel Consultants, E- Financial Careers, Russell Stephens LLC and Babich & Associates are a few of the biggest recruiters from the Baking industry.

Q: What are the prerequisites or academic qualifications to pursue a Banking course/career?

A: Any individual with at least 50 per cent aggregate in 10+2 examinations can go ahead to pursue banking careers by taking bank exams or pursuing higher studies in banking field.

Q: What is the level of job satisfaction in bank careers?

A: The level of job satisfaction is high. Banking professionals feel that they are able to achieve good work-life balance, social status and get a good working environment for themselves.

Q: What is the duration of a banking course?

A: The course duration of an undergraduate programme in banking is three years and of a post graduate programme is five years.

Q: What are various job designations in a bank?

A: Loan Clerk, Bank Specialist, CEO, Bank Teller and Bank Probationary Officer are some of the designation in banks.

Q: What are the main skills that any individual with a banking degree must possess?

A: Analytical skills, good communication skills, leadership qualities, technical skills, and good stress management skills are the ones that any individual with a banking degree must possess.

Q: What are the popular Banking certifications?

A: Some of the significant bank certifications are: Chartered Mutual Fund Counselor, Certified Public Accountant, Certified Management Accountant, Certified Financial Planner.

Q:  What are the various fields that banking professionals can gain expertise in?

A: Banking professionals can gain expertise in areas like financial deals, Budget creating, Auditing financial records and International stock markets.

Q:  What are the subjects that a Bachelor’s degree in Banking covers?

A: The syllabus of a Bachelor’s degree covers basics of Banking like Security analysis, financial management, risk management, derivatives markets and many more along these lines.

Table of contents
  • Popular Banking, Finance & Insurance Colleges in India
  • Popular Private Banking, Finance & Insurance Colleges in India
  • Popular Exams
  • Popular Banking, Finance & Insurance Specializations
  • Most Popular Courses
  • Popular Banking, Finance & Insurance UG Courses
  • Popular Banking, Finance & Insurance PG Courses
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Popular Banking, Finance & Insurance Colleges in India

Following are the most popular Banking, Finance & Insurance Colleges in India. Learn more about these Banking, Finance & Insurance colleges (Courses, Reviews, Answers & more) by downloading the Brochure.
6.75 L
6.8 LPA
75 K - 4.28 L
3.8
Ranked #3 Private University in India. Placement with Fortune 500 Companies
3 L - 9 L
7.78 LPA

Banking, Finance & Insurance Applications open. Apply Now

2 L - 10 L
7.25 LPA

Banking, Finance & Insurance Applications open. Apply Now

0 - 7 K
2 Courses
1.26 L - 14 L
3.6

Popular Private Banking, Finance & Insurance Colleges in India

3 LPA
3 Courses
11 L
4.4

Banking, Finance & Insurance Applications open. Apply Now

12.05 L
3.9

Banking, Finance & Insurance Applications open. Apply Now

1.2 L
1 Course
14.75 L

Banking, Finance & Insurance Applications open. Apply Now

4.2 L
4.0

Banking, Finance & Insurance Applications open. Apply Now

Popular Exams

Following are the top exams for Banking, Finance & Insurance. Students interested in pursuing a career on Banking, Finance & Insurance, generally take these important exams.You can also download the exam guide to get more insights.

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Popular Banking, Finance & Insurance Specializations

Following are the most popular Banking, Finance & Insurance Specializations . You can explore the top Colleges offering these Specializations by clicking the links below.

Popular Specializations

Popular Banking, Finance & Insurance UG Courses

Following are the most popular Banking, Finance & Insurance UG Courses . You can explore the top Colleges offering these UG Courses by clicking the links below.

UG Courses

Popular Banking, Finance & Insurance PG Courses

Following are the most popular Banking, Finance & Insurance PG Courses . You can explore the top Colleges offering these PG Courses by clicking the links below.

PG Courses

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Student Forum

chatAnything you would want to ask experts?
Write here...

Answered Yesterday

Hi.

well done!, all the very best but you can try some other exams like 

some of the most common banking exams in India for graduates:
  • SBI PO (Probationary Officer): One of the most sought-after exams for a managerial position in the State Bank of India, it involves prelims, mains, and an interview.
  • IBP

...Read more

h

heena agrawal

Scholar-Level 17

Answered 2 days ago

Regent's University of London MA Management and Finance course is 12-16 months. Students can apply for this course directly. There is no application fee. For admission to this course, Indian students are required to have a minimum second class UK Undergraduate degree or equivalent. A few of the docu

...Read more

H

Himanshi Shekhar

Contributor-Level 10

Answered 2 days ago

Hi...

The upcoming and predicted schedules for major banking exams:
 
IBPS Exams
  • IBPS RRB Clerk Mains Exam: February 1, 2026.
  • IBPS RRB PO Interview (tentative): January–February 2026.
  • IBPS PO/MT (CRP PO/MT-XVI): The notification is projected to be released around June 30, 2026, with the mains exam around

...Read more

h

heena agrawal

Scholar-Level 17

Answered 3 days ago

You cannot get a visa without OSHC. This money needs to be paid before you fly to Australia. For a single student, it costs roughly AUD 600 to AUD 700 per year.

R

Raushan Kumar

Contributor-Level 10

Answered 3 days ago

The students of GIBS are very active in organizing cultural festivals, leadership activities, and sports events throughout the year. There are a number of student-driven clubs and committees on the campus for planning fests, talent shows, workshops, and competitions, which provide hands-on experienc

...Read more

M

Mohammed Maqsood

Contributor-Level 7

Answered a month ago

Check below institutes -

  1. Mumbai University
  2. SIES College of Arts, Science and Commerce, Mumbai
  3. Yashwantrao Chavan Maharashtra Open University, Nashik
  4. Amity University, Noida
  5. Bishop Heber College, Trichy

59588369
NITIN DESHMUKH

Scholar-Level 17

Answered 2 months ago

SBI and Tally are integral to the placement success for MBA students specializing in Banking and Financial Engineering from Chandigarh University. SBI provides practical exposure to banking operations, financial modeling, and risk analysis, allowing students to gain real-world experience and underst

...Read more

A

ABHINAV SRIVASTAVA

Contributor-Level 10

Answered 2 months ago

Yes, definitely! you can do the below mentioned Certifications along with MBA Finance:

  • CFA (Chartered Financial Analyst)
  • FRM (Financial Risk Manager)
  • CPA or CMA (for accounting and financial planning)
  • Investment banking courses

These certifications can significantly boost your resume and give you an edg

...Read more

P

Pallavi Rai

Contributor-Level 7

Answered 2 months ago

Not necessarily! Most top MBA colleges accept fresh graduates, especially in India even IIM's also accept fresh graduates. However, 1to 3 years of work experience can help you understand real-world finance better and improve your chances for top-tier colleges or higher packages. Work experience als

...Read more

A

Abhishek Arora

Contributor-Level 7

Answered 2 months ago

The college banking syllabus can surely provide a strong foundational base for students planning to appear for IBPS and SBI exams but a dedicated bank exam prep is extremely important because the college curriculum does not always cover banking awareness and computer aptitude in depth as is required

...Read more

V

Vidhi Jain

Contributor-Level 10

Answered 2 months ago

Colleges usually offer semester wise banking syllabi for various UG and PG courses like BCom, BBA and MBA in Banking, Finance and Insurance. The syllabus is spread across multiple 6-month-long semesters where you get to study concepts like financial accounting, investment banking, banking operations

...Read more

V

Vidhi Jain

Contributor-Level 10

Answered 2 months ago

The Banking syllabus for Diploma courses differs based on the course type, whether it is after 10th, after 12th, or a PG Diploma and the college offering the program. Generally, there are core subjects, electives, and a project component in the final semester. You can find the list of some basic cor

...Read more

V

Vidhi Jain

Contributor-Level 10

Answered 2 months ago

Business Mathematics is not a compulsory subject in the Banking syllabus. While several colleges have it as part of the coursework for a BCom in BFSI or an MBA in Banking and Finance, it is not a prerequisite for any banking exam or job in the future. All you need is solid quantitative aptitude with

...Read more

V

Vidhi Jain

Contributor-Level 10

Answered 2 months ago

Yes. You will find case studies and industrial project work as integral components in the BCom in Banking syllabus across all top colleges to provide the students with enough practical exposure to banking operations and financial market scenarios. Live projects, case studies, and projects give you a

...Read more

V

Vidhi Jain

Contributor-Level 10

Answered 2 months ago

Well, yes. A majority of the coursework for banking and finance-related courses includes modules on stock markets, investment strategies, and risk management as part of the larger financial framework. All of this knowledge is important for you to make sense of the workings of financial institutions,

...Read more

V

Vidhi Jain

Contributor-Level 10

Answered 2 months ago

Yes, the 2024 placement report for National Insurance Academy has been released. Check out the table below to know more:

Particulars

Placement Statistics (2024)

Placement Rate

100%

Students Placed

130

the highest Package

INR 22 LPA

Average Package

INR 12.30 LPA

PPO's Offered

57

Companies Visited

29

d

diksha soni

Contributor-Level 10

Answered 2 months ago

National Insurance Academy has an impressive placement report. The table below provides the placement statistics recorded during National Insurance Academy placements 2024:

Particulars

Placement Statistics (2024)

Placement Rate

100%

Students Placed

130

the highest Package

INR 22 LPA

Average Package

INR 12.30 LPA

PPO's Offered

57

Companies Visited

29

d

diksha soni

Contributor-Level 10

Answered 2 months ago

Yes, National Insurance Academy has good placements for BTech, BSc, MTech. The placement statistics for recent years are given in the table below:

Particulars

Placement Statistics (2021)

Placement Statistics (2022)

Placement Statistics (2024)

Placement Rate

100%

100%

Students Placed

92

98

130

the highest Package

INR 29.5 LPA

INR 18 LPA

INR 22 LPA

Average Package

INR 10.3 LPA

INR 13 LPA

INR 12.30 LPA

PPO’s Offered

28

40

57

Companies Visited

35

17

29

d

diksha soni

Contributor-Level 10

Answered 2 months ago

Yes, graduating with an MBA degree from Centurion University Bhubaneswar makes students eligible for various jobs in the Finance domain. This is because, during the programme, students learn variousconcepts, such as Financial Accounting, Time Value and Money, Cost Acocunting, and more that help stud

...Read more

S

Shailja Rawat

Contributor-Level 10

Answered 2 months ago

Yes, Graphic Era Hill University Bhimtal BCom students are eligible for Finance domain jobs. Students enrolled in the programme learn about various concepts of Accountancy and Finance. Students who wish to land a job can check below to learn some job positions that BCom graduates can pursue:

  • Accounta

...Read more

S

Shailja Rawat

Contributor-Level 10

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