What are the Career Opportunities in Banking Sector?

Career

Thinking about making a career in the banking sector? Why not? It is the considered well paid, secured and a high status career today. The sector is not just for the commerce and the economics students; it is open to all the streams including MBA, CA and CFA.

Banking Career opportunities

You may consider a career in banking sector as soon as you complete your 12th. A person in the bank becomes an all rounder. He gets introduced to many elements of banking like law, accounting, investment banking, taxes, public relations, customer relationship management, etc.

The banking sector provides excellent opportunities to the employees. As fresher, you develop an understanding of the global economy. You also have the opportunity to interact directly with the customers and understand them well. This would equip you with the right understanding when you market the banking products to them. This is a great place where you get a better insight of the various challenges in the market.

With the network of the public sector banks expanding to the remotest part of the country, there are more job opportunities in banking sector. The advent of more private and foreign banks in the country has also opened the opportunities for the banking career. Many vacancies have been created in the recent past and many more are expected in the future as well.

The banks act as the outlet for the distribution of the funds under various Govt schemes leading to more recruitment of staff and officers with more work load. So the demand for the right candidate at the entry level is always high in the banking sector. Proper guidance and coaching would open ways for you in the sector making your career steady and enterprising.

There is also the demand for the experienced bank employees especially in the newly set private and foreign banks. Private Banks opening up new branches prefer the local experienced employees of the public sector banks at the higher cadre rather than relocating their own staff from other branches. The junior staff and clerks may however be recruited as per the demand. Hence the banking job opportunities are expected to grow even more.

Preparing for the Career opportunities in Banking Sector

The banks have various positions that you can opt to join as. The two major positions in the bank are the clerks and the Probationary Officers (PO)/Management Trainees (MT).

Clerk:

Most of the banks have more vacancies for the position of clerks.
Eligibility:
Age: 18 -28 years at the entry level.
Educational Qualification: Aggregate of 60% marks in the 12th examinations.
The written exams consist of:
• Reasoning ability and numerical aptitude
• Clerical aptitude
• English language
• General awareness

Probationary Officer (PO):

Eligibility for the direct recruitment:
Age: 21 to 26 years or above as decided by the individual banks.
Educational qualification: aggregate of 55% in the graduate program from the UGC recognized University.
The IBPS conducts the written exam for the position. The qualifying test includes:
• Data interpretation and logical reasoning
• General Awareness
• English
• Verbal Reasoning.

Other Positions:
Positions of Financial manager, Bill and account collectors, bank tellers, loan officers and audit clerks are also there in the banking sector.

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