Banking jobs today present a niche career opportunity for avid students in the field of commerce and accounts. For the first timers and the freshers, banking jobs are the first step towards understanding the global economy. Not only that, but the aspirants also identify and discover the challenges that are ever-present in the marketplace and try to decipher a career for themselves that offers tremendous opportunities, not just in the country but also abroad.
With the advent of newer banks mushrooming each year, the industry presents ample opportunities in banking jobs. If the candidate is a student of B.Com, s/he can be taken on for the role of sales executives for loans, mortgages and/or insurance with any of the leading banks. The banking job aspirants need to have good interpersonal skills as well as great communication skills.
What are the future prospects of a banking job?
The numbers say it all – that the future of banking jobs is quite safe and secure and has much to offer to the candidates applying for them. According to the latest statistics, public sector banks in India are currently employing above 7 lakh people. To take care of the number of people who are soon to be retirees, the banks are on a recruiting spree. And this number does not consider the private sector manpower requirements so all in all the future prospects of banking jobs are immense. Apart from this, the rise of technology-led new private and payment banks has expanded the scope as well as the range of banking service. There are ample banking jobs available in various sectors such as mutual funds, business credit cards, consumer loans, automotive loans, housing loans, and more.
What are the qualifications required for banking jobs in India?
The banking sector is still thought of as the backbone of the Indian economy and thus presents a host of opportunities to banking job aspirants. The best part is that students from all fields, be it science, commerce or humanities can apply for banking jobs. The candidate needs to showcase a prowess in the analysis of numbers coupled with strong mathematics so that s/he can easily interpret as well as analyse numerical data. Banking jobs are quite as lucrative as careers, especially for aspirants who wish to take on jobs in the government sector. With the government looking at opening new branches in remote areas of the nation, it becomes an extremely important opportunity for all those eyeing banking jobs as a career option. To clear certain bank examinations, the candidate needs to be proficient in some subjects such as Reasoning, Aptitude, General knowledge, General English and Arithmetic. Apart from this, interpersonal skills and communication skills are also very important for the candidate applying for a banking job.
What is the career growth in a banking job?
The progression path is quite well-defined in banks, be it public sector or private sector banks. Typically the path is defined by two main factors – potential and performance. Thus, it is a well-known fact that a hardworking and self-motivated employee will move up the corporate ladder in a banking job as compared to those who lack the will to persevere.
In many public sector banks, an aspirant who joins as a probationary officer can look up to becoming a General Manager in around 14 years or so. It then solely depends on the potential and capabilities of the GM to aim at becoming the CEO or the MD of the bank. Many banks particularly private ones have a vast network of foreign branches. Thus, banking jobs also offer opportunities to work internationally. All in all, the prospects of working as a banker ensures the candidates of a fairly good lifestyle.