Jobs in the Finance & Banking Sector in India for Fresh Graduates | Business Analyst Jobs for Freshers in the Financial Services in India

The longer you go on, the more you are aware of the power of finance.’ – Justin Welby

The finance sector is a field rich in great earning, rewarding, enriching and informative career options in a wide range of industries. A career in the financial sector has so much to offer to young and ambitious professionals. The finance sector has shown huge growth despite the economic downturn in 2008.The Finance sector is comprised of banks, insurance companies, non-banking financial companies, pension funds, cooperative, mutual funds and other smaller financial entities. So, let’s have a look at the Jobs in the Finance & Banking Sector in India for Fresh Graduates.

Career Opportunities in the Finance & Banking (Financial Services) Sector in India for Fresh Graduates

The Indian financial market is one of the oldest ones in the world. It has got a fast rate of growth, and one of the best markets in the emerging economies. Rapid growth in the industry requires a huge workforce throughout the nation. The finance and banking sector primarily looks for fresh graduates having commerce, finance, mathematics, economics or a business management background. At the entry level, candidates get started in the financial advisory companies. Mutual fund houses also hire fresh and skilled graduates and so as the stock brokerage firms. The mutual fund company mainly includes sales and marketing, fund accounting, investment and research, operations and administration. One can become an advisor or a financial planner and with an experience of around five years go further to become a research analyst and following that a fund manager. Besides, there are huge opportunities in the financial KPO (Knowledge Process Outsourcing) sector.

Required Skills for Getting Jobs in the Financial Services Domain

Skillset, knowledge and latest information about the current finance market certainly assists candidates to increase their chances of getting hired at the topmost financial companies. Below is the list of key skills for having a career in the finance and banking sector:

Communication Skills
Customer Dealing
Quantitative Skills
Analytical Skills
Computer Skills

List of top Financial Services Companies in India

1. SBI Capital Markets Limited:

Founded in the year 1986, this happens to be the oldest organizations in the sphere of capital markets in India. Established in the form of an ancillary of SBI, they have ranked second in Asia’s Project Advisory services. The company is a trailblazer in privatization and securitization. The subsidiaries of SBI Capital Markets are SBICAPs Ventures Ltd., SBICAP Trustee Co.Ltd., and many others.

2. Bajaj Capital Limited:

Bajaj Capital Ltd is the flagship company of the Bajaj Capital Group. One of the major financial services companies in India, Bajaj Capital offers best investment advisory and financial planning services. The services are meted out to the institutional investors, NRIs, corporate houses, individual investors, high network clients as well.

3. DSP Merrill Lynch Limited:

A major player in the equity and debt market in India, DSP Merrill Lynch offers financial advises to varied corporations and institutions. With an array of wealth management and investor services, their services are customized in a manner that they meet every investor requirement. Merril Lynch and corporation was founded in the year 1914 and is one of the top finance companies in India headquartered New York City, United States.

4. Birla Global Finance Limited:

The subsidiary of Aditya Birla Nuvo Ltd., this company has operations in the corporate finance and capital market arena. An alliance with Sun Life Financial of Canada, they have given birth to Birla Sun Life Insurance Co Ltd., Birla Sun Life Distribution Co. and alike.

5. Housing Development Finance Corporation:

Housing Development Finance Corporation Limited or HDFC is one of the top finance companies in India located in Mumbai, India. It is leading provider of home loans, NRI loans, and is the one-stop destination for personal finance. With overseas branches in Singapore, Kuwait, Qatar, Saudi Arabia and many others, HDFC has been going great guns every year.

6. PNB Housing Finance Limited:

PNB Housing Finance Ltd is founded in the year 1988. The company offers premium solutions for relieving the borrower segment.  Its product range includes Home Improvement Loans, Loan Against Property, Home Extension Loans, Plot Loans, Home Loans, Home Construction Loans, Land Loans, Lease Rental Discounting, Fixed Deposits etc. The Home Loan Life Insurance Plan of this has come in conjunction with TATA AIG, with the lowest premium when compared to the peers.

7. ICICI Group:

Wide arena of financial products and services, ICICI Group has solutions like InstaBanking, Online Trading, Insta Insure, ICICI Bank imobile etc. Providing high-class financial services in all segments of the society, ICICI Group deals with Mutual Fund, Private Equity, Securities, and Life Insurance etc.

8. LIC Finance Limited:

LIC Housing Finance Ltd was founded in the year 1989. Its product range includes mortgage loans and home loans. It is headquartered in Mumbai and its founder is Life Insurance Corporation of India. It is one of the top housing finance companies in India, providing finance to individuals for repair or construction or renovation of any old or new apartment or house.

9. L & T Finance Limited:

Established in 1994, Larsen & Toubro Limited is an Indian Multinational Conglomerate. The top finance company is headquartered in Mumbai. The leading finance company shares the business interest in the field of Information Technology, construction, engineering, financial services, manufacturing goods etc. It provides funds for automobiles, Agricultural Instruments, secured loans; they have all types of loans for a long tenure. The company offers construction, real estate, IT services and financial services. The subsidiary of top finance company is L& T Infotech, L & T Finance Holdings, L & T Technology services, L & T infrastructure finance company etc.

10. Karvy Group:

With Mutual Funds Services, Depository Services, Debt Market Services, Investment Banking and many others, Karvy Group has spanned across the domestic financial sector as well as abroad. There are definitely many reasons why pursuing finance is a smart choice for potential professionals but below is the compiled list of the most specific reasons that touch on areas that are going to emphasize perks for the career-driven individual who is looking to implement exciting changes to their life in beneficial ways.

Sources: Business Maps of India,  FundooData. You can find a comprehensive list of financial and banking companies here.

List of Top Financial KPOs in India

Financial KPOs in Mumbai

1. Sutherland Global Services (Formerly Adventity)

2. Transparent Value India

3. Aranca

4. Integreon

5. WNS

6. Boston Analytics

7. TresVista

8. Axience

9. Netscribes

Financial KPOs in Pune

1. SG Analytics

2. Reval Analytics

3. Eclerx

4. Syntel

5. CRISIL

6. Credit Pointe

7. Verve

8. ValueNotes

9. BNY Mellon

10. Credit Suisse

11. WNS

12. Capital Metrics & Risk Solutions

13. AlgoAnalytics

Financial KPOs in Bangalore

1. Amba Research

2. iGate

3. Brickwork India

4. Axa Business Services

5. Infosys BPO

6. WNS

Financial KPOs in Delhi-NCR (Delhi, Noida, Gurgaon)

1. Grail Research

2. Genpact

3. Copal Partners

4. Evalueserve

5. Smart Analyst

6. McKc (Mckinsey Knowledge Centre)

7. WNS

8. The Smart Cube

9. RocSearch

10. Cians Analytics

Related Post: Scopes of Big Data & Data Science in the Banking & Finance Sector | Data Scientist Jobs in the Financial Services & FinTech Sector

Top Online Courses for Students & Early Stage Professionals to Get Jobs in the Financial Services Sector

Economics of Money and Banking – Columbia University

Financial Markets and Investment Strategy Specialization – Indian School of Business (ISB)

Master of Business Administration (iMBA) – University of Illinois at Urbana-Champaign

Financial Markets – Yale University

Introduction to Finance: Valuation and Investing Specialization – University of Michigan

Behavioral Finance – Duke University

Master of Science in Accountancy (iMSA) – University of Illinois at Urbana-Champaign

Introduction to Corporate Finance – University of Pennsylvania

Corporate Finance II: Financing Investments and Managing Risk – University of Illinois at Urbana-Champaign

Business and Financial Modeling Specialization – University of Pennsylvania

Private Equity and Venture Capital – University of Bocconi

Investment Management Specialization – University of Geneva

Benefits of a career in the Finance & Banking Domain

1. Scope of high earning

Careers in financial services pay the best deal more than most other fields, with some of the highest paying entry-level positions. On top of that, if you hard worker, you can very quickly move forward in your career and experience an abundant increase in your income. As per PayScale, the median annual salary of an entry-level business analyst in the finance and banking domain in India is around INR 414, 000. With 4 – 5 years of experience, professionals can earn INR 6 – 8 Lacs, excluding bonus and incentives.

2. Fastest Growing Job Prospects

According to The Bureau of Labor Statistics, due to “growing range of financial products and the need for in-depth knowledge of geographic regions” finance positions are growing faster than the average for employment in the United States. For example, careers in financial analysis are to grow by 23 percent, financial management by 14 percent, and financial advising by 32 percent. The opportunities will continue to present themselves as the economy continues to recover. As a with any major, it’s important to keep a focus on what it’s like in the job market upon graduation and it’s very fortunate that things look promising for those in this major.

3. Challenging career

A job in finance is quite challenging than other jobs. It requires brains, hard work and education to be successful in career. Because it is an intellectually stimulating field, it is very rewarding in the long-term. Moreover, if one works hard and applies themselves fully in their career it doesn’t take long to move up, so an individual can earn more and face new and exciting challenges.

4. Plenty of career options

The financial sector is plenty full of many different career options for professionals. There is a wide variety of specializations. One can attain to focus in on one aspect of the financial sector. A finance degree allows you to work with the decision makers of outside organizations. Examples of these organizations include banks, government agencies, stockholders, suppliers, businesses, and more. Being able to distinguish yourself with a finance degree will help you when searching for jobs, especially from a large number of business majors. As a finance degree is harder to attain, it’s guaranteed to set you apart.

5. Job security

Job security is an important perk to a career in Finance, as it is an in-demand occupation. Positions in this sector are generally secure. Because Finance is fundamental to everyday life, there are many job options available. This gives you more freedom to switch companies, cities, etc if you’re feeling like you want a new challenge or even change for the sake of change.

6. The opportunity to continue higher education

Employers in the financial sector like their employees continue advancing their education. Earning a higher degree (MA, MS or MBA) also means fast-tracking in the corporate ladder and earning a fat paycheck. So that effort to educate yourself really pays off.

7. Wide Variety of Job Opportunities

As you can see above, finance careers are growing. This also means that the variety of careers opportunities are growing as well. With a finance degree you can work in:

·         Corporate management

·         International financial management

·         Investment services

·         Financial planning services

·         Personal financial planning for individuals and private organizations

·         Brokerage firms

·         Insurance companies

·         Commercial and investment banks

·         Credit unions and private banks

As well as many other financial intermediary companies all employ finance graduates.

8. A balanced lifestyle

Most jobs in the financial sector allow for a fairly balanced lifestyle between work and a personal life, especially for those who are independently employed and can choose their schedule.

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About Author Tanmoy Ray

I have got a Molecular Pharmacology background with 5 years of research experience in the fields of Cardiovascular Medicine, Cancer Biology, Biomarkers, and Drug Discovery. I did my Masters from the UK (Aston University) and have worked at University of Oxford (UK), Utrecht University (Netherlands), University of New South Wales (Australia) and MeetUniversity (India). Currently, I am working with Stoodnt Inc. as a Career Adviser & Admission Counselor. I can be reached at tanmoy.ray@stoodnt.com

Author: Tanmoy Ray

I am a Career Adviser & Admission Counselor at Stoodnt. I did my Masters from the UK (Aston University) and have worked at the University of Oxford (UK), Utrecht University (Netherlands), University of New South Wales (Australia) and MeetUniversity (India).

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