What is the Starting Salary Of An Investment Banker In India?
Investment Banking is a high-profile job that has one of the highest payments in the finance industry. This lucrative job is not easy for a fresher to get owing to the limited number of domains.
An Investment banker course helps to get an attractive starting salary that may not be sufficient to compete with other high-profile jobs in the market. Yet, it is easier to climb the salary ladder once developed the needed skills and proven competence in this demanding job.
Investment banking in India
Investment banking in India had been dominated by foreign banks until the 1970s when an Indian bank entered the picture. It is a complex segment in the finance mechanisms across the globe that provides various kinds of financial services.
Because of this complexity and its crucial role in the success of a business and profits of corporates, it requires specialized skills for those who are handling such services.
Not only does it need skills but extreme knowledge in the field to know the changes and the ability to make rapid decisions as well.
Such demands in the banking and finance sector opened up the way for profiles such as an investment banker or financial analyst etc. Since the job has a complex nature, the payment prospects are also naturally high.
The starting salary
Investment banking jobs provide not just the salary but there also are bonuses and other incentives according to the performance. Effectively, the starting salary of finance professionals in India could be anywhere between 2.5-4L per annum.
This salary can grow at a faster pace if there are an MBA degree or other additional degrees or certification courses added to upgrade the skills. Moreover, experience also matters that hold a higher value in determining the onward salary. It is also an opportunity for more leadership roles and quicker promotions as well.
At the same time, the job has its share of cons in the form of being stressed with longer working hours, being vulnerable to the market trends, and lesser opportunities for a quality life away from work. But in the longer run, all of these are easily rectified with better payment and prospects.
How to make a career in investment banking?
The bare minimum qualification to be a banker is a degree in commerce, finance, or economics. An MBA in finance, degrees such as CA, programs such as Chartered Finance Analyst, or anyone who has undergone an investment banking course in India is also eligible for this job. The more degrees or certifications, the more attractive the profile would be.
In addition, more expertise in the form of mathematical and analytical skills with knowledge about Excel and Powerpoint helps more. Having an idea about the Financial Model is also needed as that gives extra points to the resume. As mentioned, these added skills lead to a better salary even if it is entry-level. There is no single investment banker course to prepare for the career instead, there are several certifications and programs to train the candidates on the right path and beyond in their careers.
Completing an investment banker course is the end of the road to this career. It will only provide eligibility for the first step which is an internship to get hands-on experience. Later, getting into a leading company as an analyst will open up a career. Though the courses and certifications would only add to the prospects, the key to a successful career is a natural aptitude for finance and mathematics with an analytical mind can be a banker. One may just need a slight push in the right direction.