“Play of dollars to gain some dollars”- Is the one-liner that defines what banking industry is all about. Banking industry is the vital backbone of country’s economy for developing countries like India. With the sudden boom in this industry in last decade with its transition from traditional method to modern technology-driven banking, it has become one of the lucrative career options among young aspirants. Not only private sector banks are in picture, but also public sector banks have more vacancies and better job satisfaction. In short banking industry has reached a stature which has opened the window of opportunities thereby contributing towards the socio-economic growth of India as whole.
Be you a college graduate looking out for making career choices or a working professional looking out for a change in career, confused what this industry is all about? Worry not!! All your dilemma end here as you read through.
Before understanding how to enter into this industry, let’s begin with knowing why this sector is in sudden rise or why should you opt banking as your career option?
- Great opportunity for career growth- If you are knowledgeable and dynamic there is no stopping you from climbing the ladder of improving job profiles as this sector definitely has the bed for it.
- Diversified- Banking sector is one such industry which is full of variety ranging from probationary officer to financial analyst to specialist in IT, one can get it to fit your talent.
- Remunerative- Beside handsome salary, this sector also brings in various bonus and incentives making it worth it.
- Job satisfaction- Factors such as fixed work timings to frequent fixed holidays to job stability brings along the feeling of satisfaction in this sector.
- For anyone- Be you of any field, a graduate, postgraduate or just passing out from boards, this sector is open for all.
How to begin with?
To begin with, banking as a sector has a wide window of opportunities. There are namely two kinds of banks i.e. the private sector banks and the public sector banks. The private sectors either have their own set of enrollment procedures for freshers or usually, they look out for management graduates. However, the public sectors banks, on the other hand, conducts common written test conducted by Institute of banking personnel selection (IBPS).
Few named entrance exams to watch out for while looking out to begin you career in banking are:
State bank of India (SBI) every year conducts an objective based test in prelims and main rounds followed by personal interviews for its PO as well clerk positions separately.
NABARD Officer A and B:
National bank for agriculture and rural development conducts a computer-based objective test in phase I and phase II for its Grade A and Grade B officer recruitment.
- IBPS PO and Clerk
It is a common entrance test for all public sector banks in India conducted by IBPS, which has a prelim and main exams along with interview for its PO posts and just examination in prelim and main rounds for its clerical posts.
RBI grade B officer
Reserve bank of India (RBI) also conducts its competitive based entrance exam in prelims, mains and personal interviews rounds to fill in its posts for Grade B officer and office assistants.
Also, along with these named exams, various regional banks and public sector banks also have their own selection screening test for recruitment in the said banks. Along with the awareness of where to begin with, in order to assist with the preparation for such competitive exams, there are varied Bank PO coaching institutes that one can look into enrolling in for a kick start.
Having said it all, now is the time to do some analysis of where you should see yourself few years ahead when you get into this sector? The answer is very simple as it has a well-defined career progression path. One can begin with a Grade I officer or PO and go up to the level of manger, chief manager to deputy manager and general manager as per one’s performance. In short, a banking job is no less in comparison to a job in a multinational company. Hence, wait no more begin with your preparation today by joining the nearest Bank PO coaching institute as first step into this sector.