Gist
- Investment banking GCCs in India now offer the highest compensation across technical and hybrid roles in the BFSI sector, with senior Full-Stack Developers earning up to ₹47.5 lakh annually. [2] [0]
- Data Scientists in investment banking GCCs command pay between ₹22.1-46.9 lakh p.a.; retail banking and insurance pay somewhat lower, but senior roles are closing the gap. [1] [2]
- Cybersecurity, DevOps, big data, and hybrid agile leadership roles are seeing sharper salary rises at senior levels, especially in investment banking. [1] [3]
- Other BFSI segments—insurance, retail, commercial banking, financial services—show steady growth, but with more modest premiums and longer paths to high compensation. [2] [3]
- Beyond base salary, what are the total compensation differences—bonuses, equity, benefits—for these high-premium roles?
- Does this trend widen geographic pay disparities (metros vs smaller centres)?
- How sustainable are these premiums given margin pressures on banks and regulatory cost constraints?
- Will further specialization (e.g., AI/ML, quantum computing, etc.) cause even sharper stratification, favouring investment banking GCCs?
- ~50,000 professionals surveyed across investment banking, retail/commercial banking, financial services and insurance for fiscal year 2025-26. [1] [2]
- Data Scientist pay in investment banking: ₹22.1-46.9 lakh; retail banking: ₹19.9-44.5 lakh; insurance: ₹18.4-44.3 lakh. [0] [2]
- Full-Stack Developer pay in investment banking: ₹20.7 lakh (junior) to ₹47.5 lakh (senior). [0] [1]
- Premiums for roles in cybersecurity, big data engineering, DevOps are increasing more sharply in investment banking than other BFSI segments. [1] [3]
- Agile leadership roles (Product Owner, Scrum Master) receiving meaningful premiums in investment banking; in insurance, growth remains more gradual. [2] [3]
- Steepest salary growth is seen in investment banking GCCs, suggesting technology’s rising strategic importance and scarcity of niche technical skills. [1] [3]
- [0] economictimes.indiatimes.com (Economic Times) — 2025-12-07
- [1] www.businesstoday.in (BusinessToday) — 2025-12-08
- [2] hr.economictimes.indiatimes.com (Economic Times) — 2025-12-08
The recent report by Careernet, as summarised in multiple media outlets, shows a clear bifurcation in compensation within India’s BFSI Global Capability Centres (GCCs), with investment banking leading sharply in terms of salary growth and absolute pay levels. [2] [1] The study encompasses data from ~50,000 professionals in FY 2025-26, covering four segments: investment banking, retail/commercial banking, financial services, and insurance. [1] [3]
Premium for technical‐hybrid roles: Data scientists in investment banking earn ₹22.1-46.9 lakh annually, which is consistently above their retail banking (₹19.9-44.5 lakh) and insurance counterparts (₹18.4-44.3 lakh). [0] [1] Similarly, Full-Stack Developers in investment banking enjoy earnings from around ₹20.7 lakh at junior levels up to ₹47.5 lakh in senior roles. [0] [1] These roles—data science and software development—are at the heart of banks’ efforts to enhance automation, analytics, digital resilience and product innovation. [2] [3]
Senior technical roles in risk and infrastructure: The report highlights that DevOps, cybersecurity, big data engineers are also benefiting from steep salary escalation in investment banking GCCs. These roles are increasingly strategic in functions like risk management, operational resilience, regulatory compliance. [1] [3] Entry levels remain modest, but career progression sees sharper pay rises in these domains compared with more traditional roles. [2]
Hybrids and leadership roles diverging across segments: Agile leadership positions like Product Owners, Scrum Masters receive meaningful premiums in investment banking, while insurance firms show slower growth for such roles, signaling different stages of digital adoption. [1] [3] Retail and financial services segments follow more conservative, structured compensation bands. [1]
Implications for the market: Recruiting, retention, and employer brand will become increasingly linked to how well organisations can compete for specialised tech talent. For investment banks, this trend justifies more aggressive investment in capability centres. Meanwhile, insurance and retail players may risk falling behind unless they accelerate digital transformation and rethink compensation strategy.
Open questions: