Career Opportunities in Banking

Banking is also one of the lucrative career choice among the students. It is an entry into a well paid, secure and status career. There is myth that these jobs are meant for commerce/economics students but majority of bank officers are from different streams of education. it is also not a fact that top positions in Foreign/Multinational Banks are held by MBA's from Premier Management Institutes. Though the Public sector Banks are now appointing management graduates, CAs and CFAs but bright graduates from any subject can get entry in the Public sector Banks through an All India Examination conducted by them.

The emergence of technology-driven new private banks have broadened the scope and range of banking service and entry of Financial Institutions are into the short-term lending business, is resulting in needs for more professionals. Now banks are in the mutual funds , securitisation business credit cards, consumer loans, housing loans, housing loans besides trading in gold and forex activities.

Generally banks hire for expertise in project analysis, credit appraisal skills, managing huge loan portfolios general and foreign exchange and money .Good computer knowledge is always preferred.

There are following type of Commercial Banks: Public sector Banks ; Private sector Banks ; Foreign/Multinational Banks.
Pvt Sector Banks are more technology savvy and offer better salaries than Public sector Banks. Unlike public sector banks, the promotional avenues are not time-bound.

Foreign Banks are the most sought after due to their salary packages comparable to the best in the country and better job profiles. However, in addition to personal performance, the job security in these banks is also dependent on various external factors, like the economy of the parent country, performance of the bank worldwide, change in expatriate management etc.

Public sector Banks recruit mainly graduates at the entry level on the basis of All India Level examination. However professionals like engineers, doctors, technologists, lawyers, ex-defence officers etc are recruited on senior positions through All India tests.

Private sector/Foreign Banks prefer to take MBA's, CA's etc at junior positions through Campus recruitment and interviews. However, at the senior positions they opt for experienced bankers. Thus the officers from Public sector Banks become the natural choice for such positions. Thus job-hopping has become an well-accepted norm in the Industry.

Therefore joining a Public sector Bank as Probationary Officer (Direct Officer) on the basis All India exam has become a stepping stone for the career growth in the Banking Industry.