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Banking & Finance Sector
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Payroll Home » Compensation » Indian Industry » Banking & Finance Sector
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Indian banking and finance sector is currently experiencing high growth rate. With increased FDI and high inflation rates, finance sector is enjoying high deposits. Financial institutes and commercial banks are expanding their business and going for large scale recruitments. The banks are collaborating with insurance units to provide insurance coverage to their clients. Few of the banks are also dealing in gold and silver.
Nationalized banks are preferred more as they provide for job security. Compensation packages in banks have always been lucrative. Incentives, special allowances, travel leaves, concessions, paid vacations, paid leaves, retirement benefits are also offered along with basic salary and other allowances such as house rent allowance, | |
transportation vehicle etc. Compensation package in finance and banking sector depends on the level of knowledge and experience an individual have.
Top players such as nationalized banks- Bank of India, SBI, Indian Overseas Bank, Bank of Baroda, Punjab National Bank, HDFC, ICICI and other private banks, financial institutes such as Bajaj Capital, Kotak Mahindra, etc, are offering high salary packages with lucrative incentives to attract and retain their talented work force.
Figure: Average salary offered in Banking & Finance Sector Based on Experience
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