BFSI Jobs: The Banking, Financial Services, and Insurance sector (BFSI) has shown some rapid growth in the past few years due to many important factors. One of the most important factors influencing this sector in the best way possible is the growth of advanced technologies, making these services easily available, reliable, and effective.
Nowadays, this sector is a major contributor to the country’s economy and provides job opportunities to a large section of people. The qualifications for various job roles in the BFSI sectors are flexible, and entry-level jobs pay a decent in-hand salary. Read the article to know some of the high paying BFSI Jobs.
Opportunities in the New Age BFSI Sector
The BFSI sector is one of the most rapidly expanding sectors worldwide. It provides numerous job opportunities for different BFSI roles. Let us tell you about some of the reasons for these opportunities.
- The job roles in financial services have increased for many roles, such as customer service agents, financial advisors, and investment bankers, with the expansion of financial services.
- Digitalization has been one of the most important reasons for ensuring seamless and convenient services for their customers. It raised new job opportunities in this sector, such as data analyst, software developers, cybersecurity, etc.
- Due to the rapid expansion, security and integrity issues peaked, which also created many job roles like cybersecurity, risk management, internal auditors, financial advisory, etc.
- Globalization has also affected BFSI opportunities, where multiple opportunities are available worldwide in these sectors.
High Paying Jobs in BFSI
BFSI sector expansion created many opportunities based on diverse skill sets. Let us know some of the high-paying jobs in the BFSI sector.
1. Bank Manager
A bank manager is in charge of all major bank operations. They are responsible for ensuring that their customers get excellent services and that all requirements are met smoothly. Bank managers are one of the high paying jobs in BFSI. However, the salary depends on the size and location of the bank, their qualifications, and performance.
A bank manager is paid many allowances along with the base salary. Candidates with good qualifications and exposure can get jobs in private banks for this position. However, if you are already an employee of any private bank then you can apply for this position internally, which will be based on the bank recruitment conditions.
2. Relationship Executive
A relationship executive is responsible for building and maintaining good relationships with bank clients. They need to keep them in loop with bank services, products and offers, if any. They need to ensure customer satisfaction. Freshers candidates can get good exposure and a modest salary for these positions.
Also, it will help you build your network, and you will get to know a lot of people from diverse backgrounds. The qualifications required for this job role are very flexible.
3. Mutual Fund Agent
A mutual fund agent is responsible for offering advice to their clients for the best profits. They also monitor portfolios and help their clients achieve their financial goals with the help of mutual funds. A candidate must have a high school or diploma to be eligible for this job role. This job role pays well and even if the performance is good, the candidate may get many opportunities.
4. Insurance Agent
An insurance agent is responsible for selling insurance policies to individuals and businesses. They assist clients by providing the benefits and information about the products and services provided under the coverage.
It is good to go if you have a high school or equivalent certificate. However, your communication and intrapersonal skills will help you perform well in this job role. Based on performance and the time given, it pays you well.
5. Credit Processing Associate
As a credit processing associate, you will be responsible for assessing the loan applications and verifying all the provided information. You will be responsible for managing the loan disbursement process. The job profile requires a bachelor’s degree in any relevant field. The job pays you well. In India, the average salary for this job profile is around 4-5 LPA.
6. Microfinance Executive
A microfinance executive is responsible for providing small loans to entrepreneurs or individuals. They also need to verify the loans while disbursing them. You need to have a bachelor’s degree in any relevant field. The job pays you well, with an average package of around 2-4 lakhs per year. However, the pay scale also depends on a number of other factors, such as company, size, location, etc.
7. Investment Banking
There is more than one type of investment banking, such as middle market banks, bulge bracket banks, and boutique banks. They assist in deal-making, preparing pitch books, presentations, mergers and acquisitions (M&A) transactions, and interact with clients and others.
The job roles of investment bankers can vary based on their qualifications and skills. You need to have good analytical skills, communication skills, analytical skills, teamwork skills, and others.
8. Budget Analyst
A budget analyst is responsible for preparing reports based on the spending of companies in a budget period and helping analyse and prepare the budget for the companies. It is one of the highest-paid jobs in the BFSI sector. Most of the time the report is prepared for the complete financial year, along with various scopes for improvement, suggestions, etc.
Some Other Job Roles In the New Age BFSI Sector
The BFSI sector is providing many new opportunities for almost all groups of society. Some of the important job roles are mentioned below.
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- Sales Officer: The job role of a sales officer is to sell company products and services to their customers. They can work in any of the three important sectors, like banking, finance, retail, technology, and others.
- Corporate Sales Associate: As a corporate sales associate, your job responsibilities may include your work in IT, telecommunications or manufacturing sectors. You will be responsible for selling the products and services of the company to help expand. The salary, however, depends on the performance of the sales associate.
- Debt Recovery Agent: A debt recovery agent is responsible for recovering debts that are still unpaid after the deadline from any individual or business.
How to Grab These High-Paying Jobs with the PW BFSI Course
PhysicsWallah is going to provide a Post Graduate Certfication Course in Banking, Financial Services and Insurance on PW Skills from December 18 this year. The course will help you crack these high-paying job roles in BFSI sectors.
- The course price is reasonable and affordable, with industry-level experts teaching the course.
- The course will run for three months and contain recorded as well as live lectures.
- Also, the course will provide doubt assistance to the candidates.
- Along with the course, students will get extensive career support and tips on how to excel in BFSI.
- We will also be training students in soft skills such as communication, listening, verbal and many more intrapersonal skills.
- Any graduates with a minimum 50 percent mark on their graduation can take this course.
- You can get opportunities in many job roles, such as relationship executive sales officer, corporate sales associate, and more.
- Visit @pwskills.com to know more about the course.
Learn more about our course by clicking on the link given below.
BFSI Jobs FAQs
What are some high-paying jobs in the BFSI sector?
Some of the high-paying jobs in BFSI sectors are investment banker, bank manager, financial advisor, credit risk analyst, etc.
Are there opportunities in BFSI sectors in the coming years?
The BFSI sector has seen a rapid increase in job openings in recent years. It is expected to grow by an amount of 7.5 percent or more based on various factors like digitalization, banking and financial sectors growth, etc.
What is the highest salary in BFSI?
The highest salary in the BFSI sector can go upto 40 Lakhs per year based on the position and company.
What are some of the highest paid banking jobs in BFSI?
Some of the highest-paid jobs in BFSI are investment banking, budget analyst, financial manager, loan officer, branch manager, etc.
