Banking Jobs for Better Career

By M.H.B.A.RameswarB.Tech - IIT, Ex SBI PO, Director, Deccan Career Point, Hyderabad Banking institutions have been playing a vital role in the economic development of the world. An efficient and diversified banking system is a must for healthy growth of any country's economy. In the present era Banks are no more just dealers in the money but they are also leaders of the development. And in India Banking sector is very dominant as it holds more than half of the assets in financial sector. As of now the penetration of banking into rural India is not very high when compared to the western countries. The Indian Banks are growing very rapidly and are yet to tap their true potential. This is all visible with the ambitious plans of Banks to expand their network by opening new branches, ATMs… (Ex... SBI is planning to open nearly 1 lakh branches in near future…). With this kind of expansion Banking Industry offers lot of career opportunities for graduates from different streams. Eligibility:  The entry into banking careers is possible at various levels depending on your age, qualification & experience. Banks offer many career opportunities for graduates of Engineering background. The entry levels for graduates for entering the Bank at officer level are Probationary Officers or Specialist Officers. To recruit for these positions banks hold two separate exams one is Probationary Officer exam and another Specialist officer exam. The eligibility criteria for Probationary Officer exam is graduation from a recognized university but required minimum per cent of marks which vary from bank to bank and the age should be above 21 and the upper age limit varies from Bank to Bank. People from Reserved categories get relaxation both in marks (5%) and in the upper age limit. Selection Process: The process of selection for POs is through a written test, Group Discussion and Interview. The Written test will comprise of Objective tests on Reasoning Ability, Quantitative Aptitude, General Awareness and English Language and also a Descriptive Paper. And the eligibility criteria for Specialist are same as that of POs but they should have specified professional degree for the concerned post, for example aspirants for Asst Manager (IT), Asst Manager (Civil Engineering) should have BTech (IT), Civil Engineering degree respectively. Also the written test for Specialists officers consists of Reasoning Ability, Quantitative Aptitude, General Awareness, English Language and also a Paper on Professional Knowledge/ Subject. There is a provision of negative marking. Therefore, you should be careful while marking your answers and avoid too much of guesswork. The interview and group discussion mainly test leadership and communication skills of the candidates. For people who want to enter Banking sector at the entry level can enter as Clerks for which Banks conduct a separate test. For this the eligibility criteria is a Degree from a recognized University and age should be above 18. But the Graduates POs and Specialist officers are the best positions to have a career in Banking. Functions of Probationary Officer: When a Probationary Officer joins the bank he will be positioned in JMGS I (Junior Management) pay scale and have to undergo a two-year probation period, during which he have to perform various functions such as those related to loans, foreign exchange, savings and current account. In many cases, a candidate's performance during the probation period determines his/her position after the completion of the period. Most of the Probationary Officers reach senior positions such as Chief Manager, AGM.. etc., in 10-15 years. People who take the promotions at the right time can reach even the positions of MD, Chairman etc., which are generally occupied by only Probationary Officers. In case of Specialists they enter the Banks at the JMGS I / MMGS II (Middle Management) level as Asst Manager (IT), Asst. Manager (Civil) etc. Disadvantage of being a specialist over the POs is Specialists are restricted to their concerned field. But in terms of pay and power they are on par with POs. Advantage over Normal Graduates:  What are the opportunities for Engineers..? Banking is no more traditional, work specialization has occupied a major role now in Banking. Arrivals of Information technology and Communication networking systems have completely changed the work culture of the banks. The Indian Banking industry has also leveraged technology for achieving operational efficiency. This has been made reality particularly by the employees who have entered the banks with Engineering and Management background. So banks are looking for people having specializations in professional courses, who have advantage over normal graduates. The emergence of competition in the Banking sector and the entry of Core Banking Solutions has driven the PSU Banks to adopt innovation in their business models which is making it must for banks to recruit people from various streams. In the Recent past 40 to 50 per cent of the people who got recruited to the positions of POs are having Engineering background. Job Security & Stress Free Work Culture:  An entry level Officer gets a pay of nearly 4.5 lakh Package/annum in Public sector. Bank, which is comparable with MNCs companies pay package, is not just the pay package but the job security & stress free work culture that makes these jobs attractive when compared to the private sector jobs. The promotions to higher pay scales are time-bound and fixed in Banking and at present bank officers even get foreign postings after a few years of excellent work with the bank. With this kind of Job profile and career growth opportunities the banking profession continues to be one of the most attractive careers for young graduates. It remains to be in the most-wanted job category because of the fact that bank employees like Probationary Officers/Specialist Officers enjoy much respect in the society. Thus, in the banking sector, though the challenges are big, yet the opportunities are excellent, making it one of the most exciting careers.