INDIA 2014/15

SALARY & EMPLOYMENT

FORECAST

FINANCIAL
SERVICES

ENCYCONSTRUCTIONDIGITALENGINEERINGFINANCEFINANCIALSERVICESHOSPITALITY&LEISU
M A N R E S O U R C E S L E G A L M A N U FAC T U R I N G M A R K E T I N G M I N I N G & R E S O U R C E S O I L & G A S P R O C U R E
T P R O P E R T Y R E T A I L S A L E S S U P P LY C H A I N & L O G I S T I C S T E C H N O L O G YA G E N C Y C O N S T R U C T I O N D I G
ENGINEERINGFINANCEFINANCIALSERVICESHOSPITALITY&LEISUREHUMANRESOURCESLEGALM
FAC T U R I N G M A R K E T I N G M I N I N G & R E S O U R C E S O I L & G A S P R O C U R E M E N T P R O P E R T Y R E T A I L S A L E S
P LY C H A I N & L O G I S T I C S T E C H N O L O G YA G E N C Y C O N S T R U C T I O N D I G I T A L E N G I N E E R I N G F I N A N C E F I N
I A L S E R V I C E S H O S P I T A L I T Y & L E I S U R E H U M A N R E S O U R C E S L E G A L M A N U FAC T U R I N G M A R K E T I N G M
N G & R E S O U R C E S O I L & G A S P R O C U R E M E N T P R O P E R T Y R E T A I L S A L E S S U P P LY C H A I N & L O G I S T I C S T E C
L O G YA G E N C Y C O N S T R U C T I O N D I G I T A L E N G I N E E R I N G F I N A N C E F I N A N C I A L S E R V I C E S H O S P I T A L I T
E I S U R E H U M A N R E S O U R C E S L E G A L M A N U FAC T U R I N G M A R K E T I N G M I N I N G & R E S O U R C E S O I L & G A S
C U R E M E N T P R O P E R T Y R E T A I L S A L E S S U P P LY C H A I N & L O G I S T I C S T E C H N O L O G YA G E N C Y C O N S T R U
NDIGITALENGINEERINGFINANCEFINANCIALSERVICESHOSPITALITY&LEISUREHUMANRESOURCE
A L M A N U FAC T U R I N G M A R K E T I N G M I N I N G & R E S O U R C E S O I L & G A S P R O C U R E M E N T P R O P E R T Y R E T A
A L E S S U P P L Y C H A I N & L O G I S T I C S T E C H N O L O G YA G E N C Y C O N S T R U C T I O N D I G I T A L E N G I N E E R I N G F I N
E F I N A N C I A L S E R V I C E S H O S P I T A L I T Y & L E I S U R E H U M A N R E S O U R C E S L E G A L M A N U FAC T U R I N G M A R
N G M I N I N G & R E S O U R C E S O I L & G A S P R O C U R E M E N T P R O P E R T Y R E T A I L S A L E S S U P P LY C H A I N & L O G I
S T E C H N O L O G YA G E N C Y C O N S T R U C T I O N D I G I T A L E N G I N E E R I N G F I N A N C E F I N A N C I A L S E R V I C E S H O
A L I T Y & L E I S U R E H U M A N R E S O U R C E S L E G A L M A N U FAC T U R I N G M A R K E T I N G M I N I N G & R E S O U R C E S O
A S P R O C U R E M E N T P R O P E R T Y R E T A I L S A L E S S U P P LY C H A I N & L O G I S T I C S T E C H N O L O G YA G E N C Y C O
RUCTIONDIGITALENGINEERINGFINANCEFINANCIALSERVICESHOSPITALITY&LEISUREHUMANRE
R C E S L E G A L M A N U FAC T U R I N G M A R K E T I N G M I N I N G & R E S O U R C E S O I L & G A S P R O C U R E M E N T P R O P
R E T A I L S A L E S S U P P L Y C H A I N & L O G I S T I C S T E C H N O L O G YA G E N C Y C O N S T R U C T I O N D I G I T A L E N G I N E
G F I N A N C E F I N A N C I A L S E R V I C E S H O S P I T A L I T Y & L E I S U R E H U M A N R E S O U R C E S L E G A L M A N U FAC T U R
M A R K E T I N G M I N I N G & R E S O U R C E S O I L & G A S P R O C U R E M E N T P R O P E R T Y R E T A I L S A L E S S U P P LY C H A I
O G I S T I C S T E C H N O L O G YA G E N C Y C O N S T R U C T I O N D I G I T A L E N G I N E E R I N G F I N A N C E F I N A N C I A L S E R
S H O S P I T A L I T Y & L E I S U R E H U M A N R E S O U R C E S L E G A L M A N U FAC T U R I N G M A R K E T I N G M I N I N G & R E S
C E S O I L & G A S P R O C U R E M E N T P R O P E R T Y R E T A I L S A L E S S U P P LY C H A I N & L O G I S T I C S T E C H N O L O G YA
CYCONSTRUCTIONDIGITALENGINEERINGFINANCEFINANCIALSERVICESHOSPITALITY&LEISUREH
A N R E S O U R C E S L E G A L M A N U FAC T U R I N G M A R K E T I N G M I N I N G & R E S O U R C E S O I L & G A S P R O C U R E M E
R O P EFinancial
R T Y R E TServices
A I L S A L E S S U P P L Y C H A I N & L O G I S T I C S T E C H N O L O G YA G E N C Y C O N S T R U C T I O N D I G I T A
GINEERINGFINANCEFINANCIALSERVICESHOSPITALITY&LEISUREHUMANRESOURCESLEGALMAN

FINANCial services

SALARY & EMPLOYMENT

FORECAST 2014/15

RECRUITMENT ACTIVITY
Strength of current hiring activity compared to the last
12 months

Expectation of a professional skills shortage in the next

12 months
No

Stronger (14%)
Slightly stronger (25%)
Steady (36%)

36%

Unsure

11%

Slightly weaker (18%)

Weaker (7%)

Market observations:
Over the past 12 months there has been an increase in hiring activity
within Indias banking sector, with a high level of activity continuing
throughout 2014. This activity is expected to rise further in 2015.
There have been notable differences in hiring activity on a regional
level, with multinational companies leading a shift away from Mumbai
as a financial services hub over the past five years. Bangalore, Pune,
Delhi NCR, Chennai and Hyderabad have emerged as the top locations
for international companies seeking a lower cost alternative to
headquarters in Mumbai. This is leading to significant hiring activity in
these cities.
Key factors contributing to the current uplift in hiring include more
value-add onshore roles moving to India, Shared Services Centres
(SSCs) relocating from Singapore to India, and additional foreign
investment in the local banking sector.
As international banks face increased pressure to lower their cost base,
India is being seen as an attractive location to house most value-add
roles within finance, risk, analytics, and product-based technology.
Indias national election has led to improved sentiment in the local
economy, resulting in increased business activity and hiring. This is
being seen most clearly in investment banks, private equity and venture
capital funds and consulting firms.
The global economy has also played a key role in increased activity in
Indias banking sector, with high levels of Foreign Institutional Investors
(FIIs) and Foreign Direct Investment seen so far in 2014.
Most existing finance companies in India are operating with a yearon-year growth model, increasing headcount as current teams grow
confident with existing functions. Some are adding new business units
such as product control and valuations.
Hiring is currently strong across a number of industry areas including:
finance, analytics, risk, investment banking, private equity and venture
capital investment, real estate and management consulting.

Yes

53%
Multinational banks are looking to create Centres of Excellence (CoEs)
across credit and market risk in India, which is contributing to positive
growth forecasts for finance roles.
Existing companies are strengthening their analytics and reporting
teams, creating job opportunities in those areas. The availability of
talented and qualified statisticians and analytics professionals (often
at a PhD level) at a relatively lower cost than overseas markets is
driving greater demand for Big Data and Machine Learning roles. This
is positioned to increase as more companies begin to understand the
importance of generating insights from large amounts of unstructured
data to stay ahead of the competition and capitalise on changing
consumer trends.
Market and credit risk are key concerns for finance companies
globally, creating growth in this area locally. Introduction of new global
regulatory standards including Comprehensive Capital Analysis and
Review (CCAR) and Basel III have contributed to these
increased opportunities.
Other roles in high demand by hiring managers include Investment
Banking Analysts and Associates in global banks, and Investment
Banking Directors in domestic institutions, Private Equity and Venture
Capital Analysts at all levels across both domestic and global firms as
well as Management Consultants and Real Estate professionals. These
roles are expected to remain in demand over the next 12 months.
Professionals with high levels of education and experience are in
particularly high demand. Those with Masters degrees or PhD-level
qualifications in addition to significant experience in risk, regulatory
reporting and/or product control are highly sough-after.

Note: All infographics in this report are based on the views of survey participants. The accompanying market commentary is based on the experience and observations of the Michael Page team.

Financial Services

FINANCial services

SALARY & EMPLOYMENT

FORECAST 2014/15

RECRUITMENT ACTIVITY
Skills shortage placing upwards pressure on salaries

Impact of skills shortage on businesses in India over the next

12 months

91%

Yes, it will cause salaries to rise

above the inflation rate (65%)
Yes, salaries will increase but
only at the rate of inflation (35%)

9%

Need to
develop more
targeted
attraction
strategies

Other*

* source talent internationally, etc.

Workplace offers same opportunity for women to progress

to senior/executive level positions as men

NO

YES

7%

86%
UNSURE

7%

How workplace offers same opportunity to progress to

senior/executive level roles*

66%

Formal diversity policy with targets for increasing the

number of women in senior/executive positions

61%

Based on number of women in senior/executive positions

50%

Range of flexible working arrangements offerred

to accommodate parents in the workplace

37%

Engaged CEO focused on the diversity agenda

24%

Range and availability of leadership training provided to employees

3%

Other*

* top management focus on hiring senior women, etc.

* more than one option could be selected

Financial Services

FINANCial services

SALARY & EMPLOYMENT

FORECAST 2014/15

RECRUITMENT ACTIVITY
Companies using social media to source talent

Preferred social media platforms used to source talent

(Choice of Linkedin, Facebook, Google+ and Twitter)

Linkedin

100%

77%

23%

Companies expecting to increase headcount over the

next 12 months

NO

YES

17%

79%
UNSURE

4%

Financial Services

Experience level expected to be in highest demand

Mid-level (33%)
Management (33%)
Senior management (12%)
Specialists (22%)

FINANCial services

SALARY & EMPLOYMENT

FORECAST 2014/15

SALARY AND REMUNERATION

Market observations:
High salary increases are on offer for most professionals
changing jobs in the banking sector. Those with niche skills or in
critical roles can expect a salary up to 25-35% higher in a new
role, and a yearly increase of up to 15% in the same role. Less
business-critical roles can still command a salary hike of 20-25%
in a new role. Front office teams have seen salaries rise by 2025% even in the same role over the past 12 months.

Salary increases over the next 12 months

2%

All my employees will receive the same percentage increase

85%

All my employees will receive an increase, but it will vary according to performance
11%

A number of roles will be awarded above average salary

increases due to a shortage of quality talent in these areas. In
addition, many of these roles attract returning Indian talent, which
demands a premium salary.

Only my best performing employees will receive an increase

2%

No one in my team will receive an increase

Average percentage salary increase over the next 12 months

6% - 10%

48%

11% - 15%

38%

16% - 20%

14%

Financial Services

Mumbai-based professionals are currently earning 10-15% more

than their counterparts in similar roles in Delhi NCR or Bangalore,
due to the high cost of living in the city.

Key specialist areas positioned for an above average salary

increase include product control, treasury, regulatory reporting,
and Legal Entity Controllers in finance. Within risk, market and
credit risk will be awarded the largest salary increases. Analytics
roles in the areas of Big Data, risk analytics and Machine
Learning can also command higher salary increases. Other key
areas where salary growth is strong include investment banking,
private equity, real estate and management consulting.

FINANCial services

SALARY & EMPLOYMENT

FORECAST 2014/15

SALARY AND REMUNERATION

Average percentage salary increase for the best performers

6% - 10%

7%

11% - 15%

34%

16% - 20%

31%

21% - 30%

26%

31% - 40%

2%

Factor most likely to impact salary levels in the next 12 months*

Global economic conditions

80%

Individual, team or
company performance

77%
61%

Competition with other companies

59%

Domestic economic conditions

Inflation

30%
2%

Elections

2%

Other*

2%

Dont expect any factors to impact salaries

2%

Not sure

* market rate, negotiations, etc.

Average salary increase to hire new staff

Flexible salary packaging or fringe benefits offered

to employees

1% - 5%

11%

6% - 10%

7%

11% - 15%

18%

16% - 20%

25%

21% - 30%

39%

YES

86%

NO

14%

* more than one option could be selected

Financial Services

FINANCial services

SALARY & EMPLOYMENT

FORECAST 2014/15

SALARY AND REMUNERATION

Companies providing bonus as part of the remuneration
package

Basis for bonuses over the next 12 months

Team performance

Company performance

5%

11

100%

Individual performance
Combination of all

7%

77%

Average percentage bonus of gross salary

1% - 5%

2%

6% - 10%

9%

11% - 15%

45%

16% - 20%

23%

21% - 30%

11%

30% - 41%

7%

41% - 50%

2%

Financial Services

FINANCial services

SALARY & EMPLOYMENT

FORECAST 2014/15

ATTRACTION AND RETENTION

Employer expectations for staff turnover in the next 12
months
100

NO

YES

9%

52%
80

60

UNSURE

Key reason employees are likely to leave*

70%

70%

39%

52%
39%

40

30%
20

4%
0
Improve
salary

Strategy in place to attract returning Indian talent

Gain more Broaden

Overseas
seniority experience/ opportunities
opportunity
to learn

Achieve
better
work/life
balance

Better
training
and
development

Strategies used to attract returning Indian talent

83%

NO

YES

23%

52%

Attractive employee value proposition

65%

UNSURE

25%

Attractive business proposition

57%

Regional/global remit
43%

Relocation allowance

Market observations:
A number of innovative attraction and retention strategies are
beginning to emerge in Indias banking sector, including better
engagement for mid level management, enhanced communication
throughout the functional and organisational hierarchy and improved
internal mobility between functions for junior to mid level candidates.
In addition, some employees are being offered promotions that come
with financial incentives such as bonds and increasing equity offerings
in order to motivate long term commitment.

* more than one could be selected

Financial Services

Companies are investing in strategies to attract returning Indians, such as

offering a defined vision for career growth in addition to higher salaries
and compensation. Businesses are also utilising international recruitment
firms to help them build va talent pipeline.
Gender diversity remains a key concern for employers in India, with
companies implementing strategies that aim to present female employees
with the same career progression opportunities as their male counterparts.
Current approaches include improved maternity leave policies, education
programs for internal decision-makers to raise awareness and highlight
the importance of diversity, and increased consideration of female
professionals for leadership roles.

FINANCial services

SALARY & EMPLOYMENT

FORECAST 2014/15

ATTRACTION AND RETENTION

Channels used to source returning Indian talent*

Recruitment consultants

83%

Job boards

83%

Social media platforms

61%

Local Newspaper

13%

Most popular options offered to support employees

work/life balance*
77% Flexible working
arrangements
66%

45% Sabbatical leave

45%

32%

9%

Other*

Team building/offsite activities

7%

Increased maternity / paternity leave

Alternative leave options (e.g. volunteering)

Other*

* internal, referrals, networks, etc.

* limited overtime, team activities, etc.

Combination of benefits offered to employees*

Most popular tools for attraction and retention

Healthcare
insurance

89%
70%

Company car

68%

Mobile phone

24%

Parking

52%

Travel pass

7%

Strong company culture

13% Recognition and rewards

Personal laptop

59%

7%

50% Structured career

progression

5%

Training and mentoring partnerships

5%

Global career opportunities

Income protection insurance

3%

Other*

Work/life balance initiatives

* term insurance, accidental insurance, etc.

* more than one could be selected

Financial Services

FINANCial services

SALARY & EMPLOYMENT

FORECAST 2014/15

working hours
Average weekly working hours

36-40 hours

46-50 hours

41-45 hours

5%

55%

32%

Change in average weekly working hours over the

last 12 months

51-55 hours

7%

1%

Main reason behind the increased working hours

64%

STAYED THE
SAME

68%
SIGNIFICANTLY
INCREASED
(15+%)

Business growth
REDUCED
(0 - 15%)

5%

9%
INCREASED
(0 - 15%)

18%

Financial Services

56 hours or more

27%

Fewer headcount

9%

Promotion

10

FINANCial services

SALARY & EMPLOYMENT

FORECAST 2014/15

Salary tables

FINANCE Central Finance

Tier 1
Roles

AVP
Bangalore/
Chennai/
Delhi NCR

INR Lacs
Director

VP
Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

Managing Director
Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

CFO

N/A

N/A

N/A

N/A

6085

6090

85+

90+

Financial Reporting

1828

2030

2845

2850

4570

5075

70+

75+

Tax Accountant

1828

2030

2845

2850

4570

5075

70+

75+

Management Reporting

1828

2030

2845

2850

4570

5075

70+

75+

Legal Entity Control

1828

2030

2845

2850

4570

5075

70+

75+

Regulatory Reporting

1828

2030

2850

2855

4570

5580

75+

80+

Tier 2
Roles

AVP

VP

Bangalore/
Chennai/
Delhi NCR

Bangalore/
Chennai/
Delhi NCR

Mumbai

INR Lacs
Director
Mumbai

Bangalore/
Chennai/
Delhi NCR

Managing Director
Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

CFO

N/A

N/A

N/A

N/A

5075

5080

75+

80+

Financial Reporting

1624

1825

2440

2545

4060

4565

60+

65+

Tax Accountant

1624

1825

2440

2545

4060

4565

60+

65+

Management Reporting

1624

1825

2440

2545

4060

4565

60+

65+

Legal Entity Control

1624

1825

2440

2545

4060

4565

60+

65+

Regulatory Reporting

1626

1828

2645

2850

4565

5070

65+

70+

FINANCE Finance project

Tier 1
Roles

Business Analyst/
Change Management

Tier 2
Roles

Business Analyst/
Change Management

AVP

VP

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

1828

2030

2845

AVP

INR Lacs
Director

Managing Director

Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

2850

4570

5075

70+

75+

INR Lacs
Director

VP

Managing Director

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

1624

1825

2440

2545

4060

4565

60+

65+

Please note:
1. Salaries are quoted as CTC (Cost to company including Basic salary, HRA, other allowance and retirals).
2. All salaries are median ranges.
3. Tier 1: Captives for MNC across India.
4. Tier 2: Third party consulting compaines providing solution to banking clients.

Financial Services

11

FINANCial services

SALARY & EMPLOYMENT

FORECAST 2014/15

Salary tables

FINANCE Product control

Tier 1
Roles

AVP
Bangalore/
Chennai/
Delhi NCR

INR Lacs
Director

VP
Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

Managing Director
Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Money Market

1828

2030

2850

2855

4575

5580

75+

80+

Equities

1828

2030

2850

2855

4575

5580

75+

80+

Commodities & Derivatives

1828

2030

2850

2855

4575

5580

75+

80+

Tier 2
Roles

AVP
Bangalore/
Chennai/
Delhi NCR

INR Lacs
Director

VP
Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

Managing Director
Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Money Market

1626

1828

2645

2850

4565

5070

65+

70+

Equities

1626

1828

2645

2850

4565

5070

65+

70+

Commodities & Derivatives

1626

1828

2645

2850

4565

5070

65+

70+

OPERATIONS
Tier 1
Roles

AVP

VP

Bangalore/
Chennai/
Delhi NCR

Bangalore/
Chennai/
Delhi NCR

Mumbai

INR Lacs
Director
Mumbai

Bangalore/
Chennai/
Delhi NCR

Managing Director
Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Head of Operations/COO

N/A

N/A

N/A

N/A

5080

6090

80+

90+

Project Management

2028

2030

2840

3045

4070

4575

70+

75+

Quality

2028

2030

2840

3045

4070

4575

70+

75+

Transitions

2025

2028

2540

2545

4070

4575

70+

75+

Payments & Cash Management

2028

2030

2840

3045

4070

4575

70+

75+

Tier 2
Roles

AVP

VP

Bangalore/
Chennai/
Delhi NCR

Bangalore/
Chennai/
Delhi NCR

Mumbai

INR Lacs
Director
Mumbai

Bangalore/
Chennai/
Delhi NCR

Managing Director
Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Head of Operations/COO

N/A

N/A

N/A

N/A

5070

5075

70+

75+

Project Management

1626

1628

2635

2840

4060

4065

60+

65+

Quality

1626

1628

2635

2840

4060

4065

60+

65+

Transitions

1525

1525

2535

2540

4060

4065

60+

65+

Payments & Cash Management

1525

1525

2635

2840

4060

4065

60+

65+

Please note:
1. Salaries are quoted as CTC (Cost to company including Basic salary, HRA, other allowance and retirals).
2. All salaries are median ranges.
3. Tier 1: Captives for MNC across India.
4. Tier 2: Third party consulting compaines providing solution to banking clients.

Financial Services

12

FINANCial services

SALARY & EMPLOYMENT

FORECAST 2014/15

Salary tables

OPERATIONS Middle Office

Tier 1
Roles

AVP
Bangalore/
Chennai/
Delhi NCR

INR Lacs
Director

VP
Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

Managing Director
Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Client Servicing

1825

2030

2540

3045

4070

4575

70+

75+

Trade Support/Capture

1825

2030

2540

3045

4070

4575

70+

75+

Reference Data

1825

2030

2540

3045

4070

4575

70+

75+

Corporate Actions

1825

2030

2540

3045

4070

4575

70+

75+

Business Management

2028

2030

2840

3045

4070

4575

70+

75+

Change Management

2028

2030

2840

3045

4070

4575

70+

75+

Fund Administration

1825

2030

2540

3045

4070

4575

70+

75+

Tier 2
Roles

AVP

VP

Bangalore/
Chennai/
Delhi NCR

Bangalore/
Chennai/
Delhi NCR

Mumbai

INR Lacs
Director
Mumbai

Bangalore/
Chennai/
Delhi NCR

Managing Director
Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Client Servicing

1525

1525

2635

2840

4060

4065

60+

65+

Trade Support/Capture

1525

1525

2635

2840

4060

4065

60+

65+

Reference Data

1525

1525

2635

2840

4060

4065

60+

65+

Corporate Actions

1525

1525

2635

2840

4060

4065

60+

65+

Business Management

1626

1628

2635

2840

4060

4065

60+

65+

Change Management

1626

1628

2635

2840

4060

4065

60+

65+

Fund Administration

1525

1525

2635

2840

4060

4065

60+

65+

Please note:
1. Salaries are quoted as CTC (Cost to company including Basic salary, HRA, other allowance and retirals).
2. All salaries are median ranges.
3. Tier 1: Captives for MNC across India.
4. Tier 2: Third party consulting compaines providing solution to banking clients.

Financial Services

13

FINANCial services

SALARY & EMPLOYMENT

FORECAST 2014/15

Salary tables

OPERATIONS Back Office

Tier 1
Roles

AVP
Bangalore/
Chennai/
Delhi NCR

INR Lacs
Director

VP
Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

Managing Director
Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Collections

1825

2030

2540

3045

4070

4575

70+

75+

Settlement

1825

2030

2540

3045

4070

4575

70+

75+

Reconciliation

1825

2030

2540

3045

4070

4575

70+

75+

Documentation

1825

2030

2540

3045

4070

4575

70+

75+

Collateral Management

1825

2030

2540

3045

4070

4575

70+

75+

ISDA Documentation

1825

2030

2540

3045

4070

4575

70+

75+

Transaction Management

1825

2030

2540

3045

4070

4575

70+

75+

Trade Finance Operations

1825

2030

2540

3045

4070

4575

70+

75+

Credit Administration/
Loan Operations

1825

2030

2540

3045

4070

4575

70+

75+

Tier 2
Roles

AVP

VP

Bangalore/
Chennai/
Delhi NCR

Bangalore/
Chennai/
Delhi NCR

Mumbai

INR Lacs
Director
Mumbai

Bangalore/
Chennai/
Delhi NCR

Managing Director
Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Collections

1525

1525

2535

2840

4060

4065

60+

65+

Settlement

1525

1525

2535

2840

4060

4065

60+

65+

Reconciliation

1525

1525

2535

2840

4060

4065

60+

65+

Documentation

1525

1525

2535

2840

4060

4065

60+

65+

Collateral Management

1525

1525

2535

2840

4060

4065

60+

65+

ISDA Documentation

1525

1525

2535

2840

4060

4065

60+

65+

Transaction Management

1525

1525

2535

2840

4060

4065

60+

65+

Trade Finance Operations

1525

1525

2535

2840

4060

4065

60+

65+

Credit Administration
/Loan Operations

1525

1525

2535

2840

4060

4065

60+

65+

Please note:
1. Salaries are quoted as CTC (Cost to company including Basic salary, HRA, other allowance and retirals).
2. All salaries are median ranges.
3. Tier 1: Captives for MNC across India.
4. Tier 2: Third party consulting compaines providing solution to banking clients.

Financial Services

14

FINANCial services

SALARY & EMPLOYMENT

FORECAST 2014/15

Salary tables

AUDIT, COMPLIANCE & RISK

Tier 1
Roles

AVP

VP

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

Internal Audit

2028

2030

KYC/AML ( Anti Money

Laundering)

1825

2030

INR Lacs
Director

Managing Director

Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

2840

3045

4070

4575

70+

75+

2540

3045

4070

4575

70+

75+

Regulatory Compliance

2028

2030

2840

3045

4070

4575

70+

75+

Market Risk

2035

2035

3550

3550

5080

5080

80+

80+

Credit Risk

2030

2030

3045

3045

4570

4575

70+

75+

Operational Risk

2030

2030

3045

3045

4570

4575

70+

75+

Tier 2
Roles

AVP

VP

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

Internal Audit

1825

2030

KYC/AML ( Anti Money

Laundering)

1525

1525

INR Lacs
Director

Managing Director

Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

2540

3045

4070

4575

70+

75+

2535

2840

4060

4065

60+

65+

Regulatory Compliance

1825

2030

2540

3045

4070

4575

70+

75+

Market Risk

1525

1525

2540

2540

4070

4070

70+

70+

Credit Risk

1525

1525

2535

2535

3550

3560

60+

60+

Operational Risk

1525

1525

2535

2535

3550

3560

60+

60+

ANALYTICS
Tier 1
Roles

AVP

VP

Bangalore/
Chennai/
Delhi NCR

Bangalore/
Chennai/
Delhi NCR

Mumbai

INR Lacs
Director
Mumbai

Bangalore/
Chennai/
Delhi NCR

Managing Director
Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Marketing Analytics

2030

2030

3050

3050

5080

5080

80+

80+

Risk Analytics

2030

2030

3050

3050

5080

5080

80+

80+

Web Analytics

2030

2030

3050

3050

5080

5080

80+

80+

Statistical Modelers

2030

2030

3050

3050

5080

5080

80+

80+

Analytics Consulting

2030

2030

3050

3050

5080

5080

80+

80+

Big Data/Machine Learning

2035

2035

3560

3560

60100

60100

100+

100+

Data Scientist

2035

2035

3560

3560

60100

60100

100+

100+

Tier 2
Roles

AVP

VP

Bangalore/
Chennai/
Delhi NCR

Bangalore/
Chennai/
Delhi NCR

Mumbai

INR Lacs
Director
Mumbai

Bangalore/
Chennai/
Delhi NCR

Managing Director
Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Marketing Analytics

1825

1825

2540

2540

4070

4070

70+

70+

Risks Analytics

1825

1825

2540

2540

4070

4070

70+

70+

Web Analytics

1825

1825

2540

2540

4070

4070

70+

70+

Statistical Modelers

1825

1825

2540

2540

4070

4070

70+

70+

Analytics Consulting

1825

1825

2540

2540

4070

4070

70+

70+

Big Data/Machine Learning

2030

2030

3050

3050

5080

5080

80+

80+

Data Scientist

2030

2030

3050

3050

5080

5080

80+

80+

Please note:
1. Salaries are quoted as CTC (Cost to company including Basic salary, HRA, other allowance and retirals).
2. All salaries are median ranges.
3. Tier 1: Captives for MNC across India.
4. Tier 2: Third party consulting compaines providing solution to banking clients.

Financial Services

15

FINANCial services

SALARY & EMPLOYMENT

FORECAST 2014/15

Salary tables

FRONT OFFICE Investment Banking (Domestic Banks)

Tier 1
Roles

INR Lacs
AVP

VP

Director

Managing Director

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Corporate Finance/M&A

2535

3545

4555

5060

7090

80100

100125

125150

Tier 2
Roles

AVP

VP

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

2025

2535

3545

Corporate Finance/M&A

INR Lacs
Director

Managing Director

Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

4050

5075

6085

75100

90125

FRONT OFFICE Investment Banking (MNC Banks)

Tier 1
Roles

AVP

VP

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

Corporate Finance/M&A

4555

5565

7585

Tier 2
Roles

AVP

Corporate Finance/M&A

INR Lacs
Director

Managing Director

Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

8595

90110

100125

150200

175250

INR Lacs
Director

VP

Managing Director

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

3545

4555

6575

75 85

8090

90110

125150

150200

FRONT OFFICE Private Equity & VC

Roles

AVP

VP

Bangalore/
Chennai/
Delhi NCR

Bangalore/
Chennai/
Delhi NCR

Mumbai

INR Lacs
Director
Mumbai

Bangalore/
Chennai/
Delhi NCR

Managing Director
Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Global Fund

4555

5575

6595

85125

100150

150200

150250

200350

Fund Size USD 200700 mn

3545

4555

5585

75110

90125

125175

125175

175250

Fund Size<USD 200 mn

2535

3545

4565

6585

70100

100150

100150

150200

Please note:
note:
Please
1. Salaries
Salaries are
are quoted
quoted as
as CTC
CTC (Cost
(Cost to
to company
company including
including Basic
Basic salary,
salary, HRA,
HRA, other
other allowance
allowance and
and retirals).
retirals).
1.
2. All
All salaries
salaries are
are median
median ranges.
ranges.
2.
3. Tier
Tier 1:
1: Captives
Fund sizefor
> MNC
1bn US$
for Private
3.
across
India. Equity & Venture Capital funds; Global MNC banks for Private Banking segment.
4. Tier
Tier 2:
2: Third
Fund party
size <consulting
1bn US$ compaines
for Private Equnity
& Venture
Funds;
Domestic private banks for Private Banking segment.
4.
providing
solutionCapital
to banking
clients.

Financial Services

16

FINANCial services

SALARY & EMPLOYMENT

FORECAST 2014/15

Salary tables

FRONT OFFICE Private Banking

Tier 1
Roles

AVP

INR Lacs
Director

VP

Managing Director

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Private Bankers

1525

2035

2540

3550

4050

5060

N/A

N/A

Tier 2
Roles

AVP

VP

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

1020

1530

2035

Private Bankers

INR Lacs
Director

Managing Director

Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

3045

3545

4555

N/A

N/A

ANALYTICS
Tier 1
Roles

AVP

VP

Bangalore/
Chennai/
Delhi NCR

Bangalore/
Chennai/
Delhi NCR

Mumbai

INR Lacs
Director
Mumbai

Bangalore/
Chennai/
Delhi NCR

Managing Director
Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Marketing Analytics

2030

2030

3050

3050

5080

5080

80+

80+

Risk Analytics

2030

2030

3050

3050

5080

5080

80+

80+

Web Analytics

2030

2030

3050

3050

5080

5080

80+

80+

Statistical Modelers

2030

2030

3050

3050

5080

5080

80+

80+

Analytics Consulting

2030

2030

3050

3050

5080

5080

80+

80+

Big Data/Machine Learning

2035

2035

3560

3560

60100

60100

100+

100+

Data Scientist

2035

2035

3560

3560

60100

60100

100+

100+

Tier 2
Roles

AVP
Bangalore/
Chennai/
Delhi NCR

INR Lacs
Director

VP
Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Bangalore/
Chennai/
Delhi NCR

Managing Director
Mumbai

Bangalore/
Chennai/
Delhi NCR

Mumbai

Marketing Analytics

1825

1825

2540

2540

4070

4070

70+

70+

Risks Analytics

1825

1825

2540

2540

4070

4070

70+

70+

Web Analytics

1825

1825

2540

2540

4070

4070

70+

70+

Statistical Modelers

1825

1825

2540

2540

4070

4070

70+

70+

Analytics Consulting

1825

1825

2540

2540

4070

4070

70+

70+

Big Data/Machine Learning

2030

2030

3050

3050

5080

5080

80+

80+

Data Scientist

2030

2030

3050

3050

5080

5080

80+

80+

Please note:
note:
Please
1. Salaries
Salaries are
are quoted
quoted as
as CTC
CTC (Cost
(Cost to
to company
company including
including Basic
Basic salary,
salary, HRA,
HRA, other
other allowance
allowance and
and retirals).
retirals).
1.
2. All
All salaries
salaries are
are median
median ranges.
ranges.
2.
3. Tier
Tier 1:
1: Captives
Fund sizefor
> MNC
1bn US$
for Private
3.
across
India. Equity & Venture Capital funds; Global MNC banks for Private Banking segment.
4. Tier
Tier 2:
2: Third
Fund party
size <consulting
1bn US$ compaines
for Private Equnity
& Venture
Funds;
Domestic private banks for Private Banking segment.
4.
providing
solutionCapital
to banking
clients.

Financial Services

17

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