An Indian-origin investment banker's claim that he makes over Rs 3 crore in London has stunned many on social media. He said he had eight years of experience in the field and earned over 300,000 pounds annually. The banker did not disclose his actual income to the viewers.
Piyush Monga, an Indian-origin digital creator who runs the 'Salary Scale' page on Instagram, shared a video of his interaction with the investment banker and asked him to share his career advice with others.
"I think education plays a big role, but it has a lot to do with connections and being at the right place at the right time. To work in investment banking, you need to get into the industry a lot, a lot sooner... Like doing internships and all that. But then it's also the function of hard work and luck," he said.
In the comments section, several people were impressed by the investment banker's salary figures, while others were sceptical.
One person asked to send the investment banker's LinkedIn profile to check "what kind of qualifications he has" in the field.
"What the hell 300k in London? Where the national average is 35,000 pounds, most experienced person has like 90-100k, in Germany that's the salary of a district mayor," another person reacted.
A third user wrote, "£300k is an impossible salary in London! He has inflated his salary!"
Another user added, "No way, this guy is making 300K a year with 8 years of experience. 300k PKR, I believe that not GBP".
The investment banker was also asked whether professionals in New York earned more than the ones in London. The salary comparisons between the two cities are not entirely fair, he said.
"I think in New York, generally the salary scales are higher just because the market there is a lot bigger. So, it's not really a fair comparison, to be honest."
Investment banking remains one of the highest-paying career paths in the UK. For entry-level analysts, base salaries in London typically range between 48,000 to 69,000 pounds per year (Rs 51 lakh to Rs 73 lakh). But the total package, including bonuses, can be somewhere between 84,000 and 165,000 pounds (Rs 89 lakh to Rs 1.75 crore), according to reports on PrepLounge and Glassdoor.
