Top 3 In-demand Jobs in Finance and Banking Sector

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Banking and finance market are the major contributor towards the growth and development of a country's economy. The banking industry is one of the most dominant segment of the financial sector. Over the years, the banking sector has seen a robust growth. The Indian banking sector can be classified into 2 major segments:

• Commercial banks: These banks generally include scheduled commercial banks (public sector banks, private banks, foreign banks and regional rural banks) and non-scheduled commercial banks.

• Cooperative credit institutions: These institutions usually include different types of co-operative banks.

In the current scenario, the growth of the financial sector in India is nearly 8.5% per annum. The banking and finance sector in India has transformed completely, offering plenteous job opportunities for candidates throughout the nation. Some of the top-notch positions available in these sectors with highest pay include:

Accounts manager: Generally, areas related to the financial reporting comes under the responsibilities of an accountant manager. An accounts manager within an organization is mainly accountable for developing and maintaining accounting principles, practices and procedures to ensure accurate and timely financial statements. The associated job duties with this profession, include:

• Supervising staff accountants

• Managing accounting team to ensure that the properly allocated and completed in a timely manner

• Performing various accounting activities such as general ledger preparation, year-end audit preparation, financial reporting, forecasting budget and other activities

Average Salary in India: INR 5,00,000 to 6,00,000 per annum

Financial analyst: In different organizations, financial analysts are addressed differently such as securities analysts, equity analysts, research analysts, investment analysts and so on. The key job responsibility of these professionals is to perform financial analysis for external and internal clients. The other job duties of a financial analyst are as follows:

• Analyzing the current and past financial data

• Preparing reports and projections based on this analysis

• Evaluating current capital expenditures of the company

• Identifying trends in financial performance

• Working with other team members to review financial information and forecasts

Average Salary in India: INR 3,00,000 to 4,00,000 per annum

Business analyst: These days, ample business analyst jobs are present in India for the skilled professionals. A business analyst usually responsible for improving the competitiveness and performance of a company across a broad spectrum of criteria. Moreover, the various activities performed by business analysts assist organizations in achieving their goals. Some of the main job duties of these professionals include:

• Defining and documenting customer business functions and processes

• Identifying opportunities for improving business processes

• Creating IT solutions

• Advising senior level management on business related issues

• Training staff and monitoring its activities

Average Salary in India: INR 5,00,000 to 6,00,000 per annum

Preparing for a career in financial and banking sector requires a great deal of expertise and set of skills. However, the rewards in this field are lucrative. The recently or soon to be graduates who are interested in this field must decide their area of interest and start preparing to get a leg-up on the competition.

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