Banking Jobs In India - Career Prospects

The Indian banking industry is growing at a very healthy rate. Both public and private sector banks have forecasted a good phase for growth in the coming times which should translate into better jobs. Banking offers great career prospects for many students of finance. It is well known that India possesses one of the most sound banking structures in the world today. This remains one of the reasons due to which India wasn’t affected as much as many countries during the last recession.

Recently, a number of banks have received banking licences and this means more manpower requisitions. B.Coms here can expect to get jobs in sales for products such as mortgages, loans and insurance. If one has an MBA then the chances are brighter still if the same is from a good B school. Further, for any job today good communication skills are a must and hence if one has them, they will hold you in good stead.

Today Public sector banks alone hire more than 7 lakh people. These people include many who will be retiring in the coming years, the number being to the tune of 40,000 further including resignations and business expansion. A good degree program for finance for a future banking career would require at least 80% marks in your Class 12 board exams – either I.S.C. or C.B.S.E. boards. Once in a degree program one may pursue CA, Costing or even start preparing for CAT. Thus, those preparing for CAT should prepare well such that they can get into a B School which is renowned so as to secure good placements.

Banking as a career is rewarding and accepting of students from all three major streams. However, one must have an inclination and acumen for analysing numbers. Further, a good preparation for the various Banking exams and interviews which follow is also essential. While CAs and CFAs have an upper hand, but they are extremely difficult and time consuming courses. Thus, many bright and smart graduates are also leaving indelible marks irrespective of stream. Banking is evolving with the ever expanding reaches of business. Whether it is securitisation or housing loans, banking is growing and needs more professionals.

While public banks hire only through exams, private and multinationals are hiring experienced and qualified pros. The candidates have certain minimum eligibility criteria which they must fulfil such as age and qualification to be eligible for different posts. People joining as clerks in banks can retire as senior officers. There are those who join as probationary officers or P.O. and retire at very high managerial positions.

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