In India, bank jobs have always been highly sought after, with millions of candidates queueing up for the Bank PO exams every year. Apart from public sector banks, the numerous investment and private sector banks in India have widened the field considerably for job-seekers looking for banking jobs in India.
Here is a list of the most popular bank jobs in India:
This is the entry level position in the investment banking sector, the role you’ll be offered if you are selected immediately after graduation. Much of it is grunt work—making presentations, carrying out analyses, and performing administrative duties. Analysts are generally sent back to school for an MBA after a couple of years in the position although some outstanding Analysts may be directly promoted to Associate.
One level above Analyst, this is an entry level position for MBA candidates. Analysts and associates generally work together as a team with the senior member overseeing the work of his/her charge. Depending on performance, an Associate is promoted to Vice President (account manager level), Director (senior account manager level) and finally Managing Director.
Specific to public sector banks, this role requires the candidate to appear for the Bank PO (Probationary Officer) exam, following which s/he is put on rigorous two-year probation. During this period, the employee receives hands-on training in several departments, including customer service, managing cash counters, document verification, etc. The job puts you at the centre of the banking process, dealing with clients and transactions. It offers rapid growth with the possibility of becoming General Manager in just 15 years of joining—a speed that’s probably unmatched in any other traditional career.
A range of SOs (Specialist Officers) is required by public sector banks to work in the fields of IT, Marketing, Human Resource and Law. Like Bank POs, these candidates are selected through an exam, following which they are attached to specialist departments. While there isn’t a big pay gap between Bank POs and SOs, the work itself is a great deal less challenging. On the positive side, SOs are generally posted in cities and the job entails fewer transfers.
Private Bank Jobs
Compared to public sector banks, recruitments in private sector banks generally takes place through campus recruitments, referrals, and job ads. Private banks prefer candidates with MBA degrees. Meeting targets is mandatory and pay hikes and promotions are exclusively based on merit. It’s a high-growth, high-stress job but one that comes with commensurate rewards.
With several options to choose from, the banking sector has jobs for people with different temperaments and career goals. It’s important to choose a career path based on one’s attributes, professional objectives and desired lifestyle.
If you think you want to make a career in banking sector, click here for bank jobs in India.