Top Investment Bankers in India 2025: Top Banks, Roles & Salary Guide

The field is fiercely competitive and extraordinarily rewarding. With soaring capital markets and record numbers of IPOs, ECM, and M&A's, top Investment Bankers in India have incredible prestige and compensation. When individuals are exploring finance careers or working as bankers, having the knowledge of top firms and understanding Investment Banking Salary in India is incredibly useful when planning a career.

From global players such as JPMorgan, Goldman Sachs, and Morgan Stanley, to the largest Indian players like Kotak Investment Banking, ICICI Securities, and SBI Capital Markets, these firms shape India's financial growth story. This article provides insight into the top firms, their compensation, and why many of them are considered the benchmark for Investment Banker Salary in India.

What is an Investment Banker?

An investment banker is a finance professional who helps companies, governments, and large institutions raise capital and navigate complex financial transactions. Investment bankers' salaries in India have gained tremendous prominence during the year 2025, as the economy witnesses record IPOs, billion-dollar deals, and widespread private equity activity.

What Does an Investment Banker Do in India?

• Capital Raising: Help companies raise money via equity (shares) or debt (bonds, loans).
• M&A Advisory: Negotiate, value, and execute M&A activities and corporate restructurings.
• IPO & ECM Advisory: Help the firm become public and list the stock.
• Debt & DCM Advisory: Formulate strategies for companies to raise capital via debt instruments such as bonds or loans.
• Strategic Consulting: Provide advice on valuation, risk, and long-term financial strategies.

Top 10 Investment Bankers in India in 2025

The Top Investment Banker in India is backed by robust deal pipelines, lucrative salaries, and a global reputation. Likewise, billion-dollar transactions are dominated by global firms, such as Goldman Sachs, Morgan Stanley, and JPMorgan. Indian banks, like Kotak, SBI Capital, and ICICI Securities, are at the forefront of India-focused IPOs and advisory.

These firms are leaders in terms of deal volume, level of compensation packages, and professional prestige, and even have prestige related to their name that sets the tone for the next level of opportunity in finance.

• Market Growth: In FY25, investment banking in India conducted ₹3,76,520 crores worth of transactions across 214 transactions, which is an increase of 85% YoY in terms of the market.
• Compensation Impact: This increase directly impacted salaries, which are now in the ₹1 Cr - ₹5 CPA+ range for senior Investment bankers, depending on the type of firm and level of responsibility.
• Global + Domestic: The bulge-bracket banks on Wall Street bring international capabilities along with the domestic banks having extensive domestic networks, making it a highly competitive and rewarding environment.

The next sections provide an overview of the leading global, domestic, and boutique investment banks in India, outlining their expertise, deal track record, and the Investment Banker Salary in India, ultimately sharing why becoming a Top Investment Banker in India is one of the most prestigious and high-paying careers in Finance.

Global Investment Banking Firms in India

International investment banks are clearly established players in India's high-value M&A, IPO, ECM, and DCM transactions, and offer professionals high remuneration and opportunities for international exposure and attractive deal flow. Firms like Goldman Sachs, Morgan Stanley, and JP Morgan set benchmarks for Investment Banker Salary in India, prestige, and cross-border deal execution, making them the best choice for aspiring Top Investment Bankers in India.

Goldman Sachs India

Goldman Sachs is regarded as one of India’s leading investment banks, consistently ranking among the top for compensation, deal flow, and global status. The firm has a major role in the capital markets in India, by advising on marquee M&A, cross-border transactions, and large IPOs. Goldman’s senior leaders sit in its Mumbai office and are responsible for some of the largest financial transactions in India

• Analyst Salaries: Approximately ₹24 LPA.
• Executive Directors: 10-93 LPA annually.
• Pay Structure: Salaries for base pay are ₹33 LPA-63 LPA, plus ₹10 LPA-₹27 LPA bonuses.

With unmatched expertise in ECM and strategic advisory, Goldman Sachs India is a premier destination for professionals seeking a high Investment Banker Salary in India and global visibility.

Morgan Stanley India

Morgan Stanley has established a strong presence in India’s investment banking landscape, utilizing its global network and local market knowledge. The firm is a leader in public equity, private equity, and financial advisory activities, and has consistently executed some of India’s most complex transactions. Morgan Stanley’s India team is led by senior industry professionals who have decades of combined deal-making experience.

• Investment Banker Associate Average Salary: ₹13.6 LPA with a range of ₹6 LPA - ₹51 LPA based on role and experience.
• Senior Investment Bankers Salary: Approximately ₹1.5–2 Cr on average; total packages can be as high as ₹3–4 Cr as staff receive bonuses and stock grants.

Morgan Stanley India attracts international investment banking talent due to its global franchise, complex deals, and competitive Investment Banker Salary in India packages.

JP Morgan India

JP Morgan is seen as one of the best investment banks in India, focused on debt capital markets, M&A, and large corporate advisory. The bank's operations in India play a key role in large billion-dollar transactions, and many of its global clients come to India to tap the fast-growing economy. The bank’s global knowledge, with local intelligence, makes it an attractive and preferred partner for large corporates and governments.

• Investment Banker Associate Average Salary: ₹29 LPA (range: ₹13–45 LPA).
• Senior Investment Bankers Salary: ₹1.8–3 Cr per annum, including bonuses.
• Overall Compensation Range: ₹18.5–32 LPA for more experienced professionals.

With a strong global platform and high-profile deals, JP Morgan India continues to lead as a preferred destination for aspiring Top Investment Bankers in India seeking high Investment Banker Salary in India.

Domestic Investment Banks in India

Global banks may control international business, but Domestic investment banks can wield a significant influence for IPOs (initial public offerings), domestic M&A (mergers and acquisitions), and debt placements. Investment banks in India have connections with the corporates in India and with the government, which provides a strong domestic presence for IPO advisory and capital markets.

Kotak Mahindra Bank (Kotak Investment Banking)

Kotak Investment Banking is a leader of the investment banking industry in India, specializing in Advisory for IPOs (initial public offerings), ECM (equity capital markets) transactions, and corporate finance mandates. Kotak is known for strong client relationships and institutional execution capabilities. It is the advisor of choice for many Indian corporates accessing the capital markets.

• Investment Banker Average Salary: ₹23.6 LPA (₹18.4 -34.8).
• Senior Investment Banker Average Salary: The Vice President earns ₹1-2 cr annually with deal-related bonuses.

With its stronghold in IPOs and ECM, Kotak Investment Banking has a steady deal flow, strong compensation growth, and a higher bonus percentage; thus is one of the more desirable domestic platforms in India.

Axis Capital

Axis Capital has developed a niche in project finance, infrastructure, real estate, and capital market transactions, as it rapidly expands within India's financial services sector. Axis Capital is recognized for executing mid-market deals, IPOs, QIPs, and providing advisory services, with a consistently growing deal pipeline.

• Investment Banker Average Salary: ₹31.2 LPA (range: ₹24.4–50 LPA).
• Partners & Directors Investment Banker Average Salary: can earn ₹1.2 - 2.5 Cr annually depending on seniority, performance, etc.

Axis Capital's focus and reputation within emerging industries and infrastructure financing have made it a leading domestic investment bank with strong career progression for its professionals and competitive pay.

SBI Capital Markets

As the investment banking division of the State Bank of India, SBI Capital Markets is one of the largest and most trusted domestic IB players in the market. It focuses on government divestitures, debt syndication, and providing large corporate financing. SBI Capital Markets is a part of SBI's extensive client networks and can leverage the institution's credibility to win major clients across multiple sectors.

• Investment Banker Average Salary: ₹21.4 LPA (Range: ₹17.6–50 LPA).
• Director-level Investment Banker Average Salary: ₹80 LPA–₹1.5 Cr annually plus bonuses.

SBI Capital Markets attracts professionals connected to government enterprises and infrastructure projects, offering steady deal flow, market stability, and unique opportunities uncommon in the private sector. It is ideal for those interested in Financial Analyst Salary trends tied to public sector projects.

ICICI Securities

ICICI Securities also provides mid-to-large corporate advisors with investment banking, wealth management, and broking services. It is a premier domestic advisor for those services. Similar to SBI Capital Markets, the firm can also lean on the ICICI group to create value through strong client relationships on IPOs, capital markets, and advisory transactions.

• Investment Banker Average Salary: ₹20.4 LPA (Range: ₹15.4–46.3 LPA).
• VPs & Directors Investment Banker Average Salary: ₹90 LPA–₹1.8 Cr annually.

ICICI Securities provides professionals with diverse service offerings, leading positions in the value chain, a strong client base, strong multi-sector exposure, competitive salaries, and long-term growth opportunities in Indian financial markets with its wide sector opportunity focus.

Boutique & Elite Boutique Investment Banks in India

Boutiques are increasingly attractive for professionals seeking specialized advisory experience, faster career progression, and strong pay-performance links.

Avendus Capital

Avendus Capital is the foremost boutique investment bank in India, due to its unique expertise in private equity advisory, technology sector transactions, and wealth management. The firm has developed a solid reputation for its advisory capabilities in high-growth sectors. Thus, it is popular among clients seeking niche expertise and employees seeking accelerated career growth.

• Investment Banker Average Salary: ₹32.5 LPA (range: ₹26.5–72.8 LPA).
• Senior Investment Banker Average Salary: ₹2–3 Cr annually for Partners & senior leaders.

Avendus’ product focus in tech, buyouts, and PE advisory results in high-margin mandates and competitive compensation packages, making it a desirable boutique firm in India.

JM Financial

JM Financial has gained a reputation as a boutique investment bank, executing high-margin, complex transactions across all sectors. It has developed strength as a boutique specializing in providing niche advisory and innovative deal structuring, which has contributed to its reputation within India’s financial ecosystem.

• Investment Banker Average Salary: ₹49.4 LPA (range: ₹22.9–153.7 LPA).
• Director-level Investment Bankers earn between ₹1–1.8 Cr annually plus 20–40% performance-based bonuses.

JM Financial's structure, casual boutique, and preference for speed to promote enables professionals to both earn premium compensation and increased responsibility relative to larger banks.

Edelweiss Financial Services

Edelweiss Financial Services is a multi-specialty boutique firm based in India that is focused on restructuring, distressed assets, debt advisory, and mid-market M&A transactions. Edelweiss is known for its expertise in complex financial restructuring and has carved a strong niche for itself in India's IB landscape.

• Investment Banker Average Salary: ₹23.4 LPA (range: ₹17.5–50 LPA)
• Director Investment Banker can earn between ₹1–2 Cr a year, depending on performance and whether any deals close.

Its diversified business model (investment banking, asset management, wealth management) broadly arms professionals with the stability of a career and experience across various specializations within the financial services industry.

Spark Capital

Spark Capital, based out of Chennai, has burgeoned into a recognized boutique investment bank based on its expertise in mid-market M&A and private equity syndication. While strong regionally, Spark Capital's developing pan-India presence qualifies them as a default partner for mid-sized corporates.

• Investment Banker Average Salary: ₹27 LPA (range: ₹25.7–29.9 LPA)
• Senior Investment Banker can expect between ₹70 LPA–₹1.2 Cr annually.

Spark Capital focuses on emerging sectors and mid-market deals, and their relationships with clients ensure competitive compensation, consistent deal flow, and strong potential for growth.

Tips for Securing a Job at a Top Investment Banking Company

Successful recruitment in a top investment bank in India is a combination of academic credentials, skills, networks, and interviewing competencies. Follow these steps for actionable advice:

1. Build Solid Academic Credentials

• Take fully relevant degrees, i.e., MBA Finance, Economics, or Accounting.
• Do especially well in courses of a quantitative nature, such as financial modeling, corporate finance, and quantitative statistics more broadly
• Utilize online courses to learn, maybe in MBA Finance Skills, and practical knowledge.

2. Complete Relevant Internships

• Have an internship at a reputable investment bank, financial advisory firm, or boutique bank.
• Your profile will be improved with meaningful exposure to IPOs, M&A deals, ECM (Equity Capital Markets) deals, and DCM (Debt Capital Markets) deals.
• Take some time in the interviews to describe your experience in your internship to show that you now have some experience.

3. Learn Technical Skills

• Make sure you know how to properly use Excel, do financial modeling, valuation methods, and data analysis.
• In your career, you will find that you desire to work with tools for analyzing markets, like Bloomberg, Capital IQ, and other platforms.
• Knowledge about regulations and frameworks in Indian markets is also useful to know about market trends.

4. Build a Strong Network

• Participate in seminars, webinars, and conferences on finance or finance industry events.
• Connect with the top investment bankers in India on LinkedIn to get a sense of their jobs and trends in the area.
• Use some time to ask alumni and senior professionals in investment banking for general advice or their career advice about the industry.

5. Prepare For Interviews

• You should anticipate case studies, typical technical inquiries, and market analysis evaluations, for example.
• You should be prepared to talk about your understanding of Investment Banking Salary in India, your firm, and your expertise in specific sectors.
• You should practice common behavioral questions, particularly for describing and demonstrating your leadership, teamwork, and problem-solving skills.

6. Exhibit Your Passion

• You should demonstrate a genuine interest in following the financial markets, corporate finance, and advisory services.
• You should demonstrate that you are familiar with recent IPOs, M&A deals, and market news.
• You should illustrate that your skills fit with the demanding expectations of top investment banks.

7. Upskill on an Ongoing Basis

• You could consider getting certified - CFA, FRM, or your advanced Excel or financial modelling programs.
• You should focus on developing specialized skills that help set you apart from other candidates.

Conclusion

The investment banking industry in India is expanding swiftly, and salaries reflect higher deal activity and increasingly complex markets. Salaries are rising 10–15% yearly at all levels, making it a highly profitable career. From understanding investment banker salary in India, for beginners, to investment banker salary in the USA for global benchmarks, candidates with appropriate skill sets are experiencing significant growth.

Aspiring candidates using MBA Finance Skills or learning how to become an investment banker after 12th can aspire to work for prestigious global, domestic, and boutique firms with competitive salaries, career growth, and access to India’s rapidly growing financial markets.