With new banks coming up in the Indian market every year, the banking sector has become the thriving career option. The Indian banking sector is expected to record 25% growth in the next few years. Moreover, with the entry of international banks, the banking sector is ready to produce abundant bank jobs.
Some of the common bank positions available in the sector
5) Probationary Officer
7) Loan Officers
If you also want to build a career in the banking sector, the below comprehensive guide would give you a steady start.
Requisite professional education & qualifications
To get into the bachelor program, you need to secure good percentage in Class XII. In India, both private and government colleges are offering banking programs to equip students with important concepts, tools and techniques. It is strongly advised that you should start preparing for the CAT (Common Aptitude Test) right from the college onwards so that you are fully prepared to clear the entrance examinations because then only you will be able to get into prestigious b-schools.
Broadly, the banking program offers specialization in below areas-
1) Micro Economics
2) Equity Debt
3) Cost Accounting
4) Banking Communication
5) Corporate Laws
Here it is imperative to note that bank jobs are open for students from all streams, be it commerce, science or arts. However, to build a great career in banking, you should be good in mathematics.
Top banking colleges in India-
1) Delhi School of Economics
2) The Indian Institute of Banking & Finance (Mumbai)
3) National Institute of Bank Management (Pune)
4) Maharaja Sayajirao University of Baroda
5) Indira Gandhi National Open University (Delhi)
Where to look for bank jobs?
In India, job opportunities for graduates and post-graduates are excellent in the banking sector. Once you complete your banking course, you will immediately get a job as a banking sales officer. Nowadays, students are showing keen interest towards probationary officer (PO) jobs also. Students interested in PO jobs have to appear for the all-India entrance test. You can find such bank jobs both in private and government sectors. Moreover, positions in loan, insurance and back office operations are available in the market. If you are from a top college like IIMs, you can expect to get an employment in foreign companies like Fidelity, JP Morgan Chase, etc. Top-notch banks like Barclay’s, Royal Bank of Scotland, American Express, Standard Chartered and other financial institutions need thousands of professionals every year for their divergent banking operations.
Future of Indian banking sector
In the recent years, the Indian banking sector has recorded an extensive growth. According to the report of the Boston Consulting Group, Federation of Indian Chambers of Commerce and Industry and Indian Banks’ Association (IBA), the banking industry of India would become the third largest in the world by 2025. Even the Ethiopian government has requested the State Bank of India (SBI) to open a representative office in its nation. All these new initiatives and development would trigger the job market and there would be a demand for employees in sales & marketing divisions. Due to the mobile and internet banking, there is a high demand of IT professionals in the banking sector also.