Career Options after Graduation in Banking Sector

Career Options after Graduation in Banking Sector 2019

Banking is deemed as the most lucrative sector for graduates in India. Over the years the opportunities in banking have risen up to a great extent. There is a high focus on financial inclusion; the push for new banks & the untold initiatives made by the government to foster the growth of this sector offers better opportunities for such graduates.

The Reserve Bank of India is also making consistent efforts to enlarge and offer job opportunities with the inclusion of new banks. A number of small banks have received the license and are operational.

This would mean more job vacancies and better opportunity for a career.

Why Choose Banking as a Career?

In comparison to other industries, Banking offers opportunities to all graduates, irrespective of the streams of study. Candidates belonging to various fields of study like Computers, Law, Technology, Graduates, Post Graduates, and Finance can apply for jobs in this sector.

Besides, there are other benefits which graduates can’t wait to be part of, namely:

  • Attractive Compensation:

The truth is that the compensation plans for the employees in the bank are very attractive. Employees receive good compensation along with minimum Rate of Interest on Loans, other medical benefits & pension benefits.

The salary is timely and employees receive it without delay. For a graduate, this is the best career option after graduation.

  • Fixed Job timings:

Unlike other private jobs, Banking follows a strict and fixed timing, which is best to give you enough time to do other courses of activities. It will also provide enough time to spend with the near and dear ones. Everyone loves to dedicate time for the loved ones, banking job provides that, without much stress and tension.

  • Job security:

The job in the banking sector, especially in the public sector bank lasts for 60 years. Graduates will benefit immensely for this job security, throughout their life. Besides, employees working in the bank do have the opportunity to obtain higher posts through internal exams with seniority.

  • No recession effects banking Sector:

Banks are the main backbone of the country’s economy.  On a developing economy, banks servers are the solution to all financial requirement of the country. History has recorded the least recession effect on the banking sector, in the recent past.  For graduates, this is the best career choices to make from the plethora of other industries. 

  • High social standing:

Banking jobs have great social standing and employee has higher regards in society as well. 

  • Ample Leave/Holidays:

The banking sector, unlike other sectors, has an ample number of leaves/holidays.  Most festivals are regarded as holidays in the banks and this helps you to maintain the balance in the professional and family responsibilities.

What is the process of recruitment in the banking sector?

There are two sectors, and both follow different recruitment process to fill the vacancies’:

  1. a. Public Sector Banks: They have 3 phase of recruitment to fill the vacancies.
  2. Private Sector Banks: These banks have their own norms for recruitment of candidates.

Learn the process of recruitment for the sector in which you wish to apply.

Which is the best post to apply for immediate-graduates?

There are various ways to begin, for the graduates. Most candidates begin with Public Sector Banks (PSB), as a Probationary Officer (PO).

Now, what is the role and responsibility of the Probationary Officer (PO)?

This designation is probation for the post of Assistant Manager in a Public Sector Bank.

  • Brings in new Business
  • Customer service
  • Reporting
  • Cash handling
  • Clearance of Payment
  • Processing of Loan 

How to apply for a post in the banking sector?

Here are the top choices to get jobs in the banking sector:

  1. IBPS:

All public sector banks hire for PO, except SBI. IBPS conducts exams for the recruitment of PO in the banks. It follows the 3 phase of recruitment for candidates. After the declaration of the result, depending upon the marks and ranking, the positions are offered in the selected banks.

  1. SBI Exams:

SBI conducts a separate exam for the recruitment of candidates for its vacancies.  And it has the highest number of employees in the banking sector. Graduates can give this exam and be part of SBI PO, which has great other benefits in the future.

  1. RBI exams:

This is one of the most lucrative sectors to get in, as they offer the highest of salaries to its employees. Candidates can fill in for the vacancies, although the competition is very high.

  1. Private sector Banks:

There are great numbers of private banks, which are doing extremely well in the economy of the country. Candidates can apply for the vacancies, which are live from time to time.

If you are a graduate, furnish yourself with the best books for bank exam, which will be a sure way to achieve the dream post in the banking sectors. Prepare with earnest and focus on the goal you have. The great collection of study material with Disha Publication is instant score improve for these exams. Explore the solutions, the syllabus, and the pattern and make your-self more prepared for the exams. You can also find many free downloads bank exam materials.

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