Why a Bank Job Is The Best Career Option For You

by Jasjot Singh on October 6, 2014

Bank-JobsA good job is the ultimate dream of a student, whether he/she is an engineer, an artist, a commerce student or a medical student. A well paid job, which helps us realize our true potential and which uses our specific set of skills to the max, is both an adventurous proposition as well as an amazing journey.

A good career option is one in which we see ourselves working hard and partying harder, where we find ourselves growing by leaps and bounds both personally as well as professionally.

In India, most of the engineering students dream of getting into an IT company like Infosys, Wipro, Larsen and Toubro etc. The elite ones (IIT’ans/NIT’ans) get into big names like Google and Microsoft, to name a few. The ones born with a silver spoon prefer going abroad for their Masters, hoping to find a job in the Silicon Valley. Some unlucky ones don’t get a job and believe a Masters degree (in India) is what they lack. And then there are some like me who end up in manufacturing companies.

And then we realize- we messed up somewhere.

Sitting in front of a PC and typing code like a machine is not what I intended to do in my Civil Engineering. Or Mechanical Engineering. Or my Bachelors of Commerce. No. You soon realize you are not being used to your full potential. You are not being challenged in a way that would help you develop. When your career becomes a constant struggle between your Team Leader and you, you realize this wasn’t the career option or the path you wanted you career to go. You are stuck.

Bank Job – The Job You Should Choose

A Bank job are one of the most sought after jobs in India. And why not. Getting a bank job is a matter of prestige, especially in a government sector bank. In a country which is inclined towards Government sector jobs much more than private sector, the reason is not difficult to understand.

Here are a few more reasons why you should choose a bank job rather than a job in an IT or private sector organisation.

  • High Regard: A job in a public sector bank is usually treated with a high regard. Getting into a public sector bank is not easy, especially when you read that 17 lac aspirants try their luck for mere 1500 seats in exam for post of probationary officer in SBI !!
  • Job Security: A bank job is looked upon as a secure job, i.e, you wont get fired UNLESS you do something really stupid (like taking bribes or such unethical tasks). Mostly, you join and you retire from the bank. No financial downturn can disturb you.
  • Need of Youngsters: Banking sector is going through a transience phase. With more and more technology being integrated into banks via core banking solutions, it is imperative for technically-driven youngsters to take up these entry-level jobs in banks to interact with customers in a better and efficient manner.
  • Growth Prospects: Growth opportunities in banking sector are immense. Candidates joining as probationary officers (PO) or as clerks may have to rough it out in rural areas in the beginning, but by their fourth year, they can expect a second promotion and even rise to General Manager (GM) rank by their 15th year !!
  • Emerging Jobs: The road ahead looks clear. With almost 50% of the current workforce in banks in the middle or senior cadre, retirements are happening at a rapid pace. Almost 1,000,000 new jobs are expected to be created in all public sector banks combined, by the year 2020. This is also fueled by the fact that almost 40% of the company is still untouched by banks. A bank job will not only ensure a stable future, but a rapid growth for outstanding performers.
  • Growth Of Bank Jobs: Bank jobs have been created at a fast pace over the past 3 years, with almost 45000 jobs being added every year. It is forecast that bank jobs will grow at a rate of almost 20% over the next decade.
  • SALARY: Salary in a bank job is high as compared to other entry-level jobs. A salary of a probationary officer starts off at around 4 lac per annum in a public sector bank. It is slightly higher for a probationary officer in SBI. However, with the IBA demands still pending, it is expected that the starting salary of officers in public sector banks will increase to almost 5 lac per annum. Thus a bank job is a great way for freshers to kick-start their career, or for experienced professionals to get a better paying career.
  • Interest: Is dealing with people loved by you? Or are you the recluse who performs best when left alone. Either way, there is a bank job to satisfy both worlds. You can become a front desk executive where you can interact with the vast majority of people who walk through the doors. Or you can be that analyst who loves munching up data and numbers to solve the next big challenge faced by the banking industry.
  • Utilization of skills: Please read the above paragraph again. Would you have been better doing this, or sit in front of a PC chatting away with your client sitting half-way across the globe? Would you rather have a uncertain timing at work, or rather have a set time of going and coming back (OK, maybe not in the top management, but they also don’t stretch out as long as IT sector). Timing is more or less fixed in a bank job. Remember- there will be a family waiting for you at home. Keep that in mind.
  • Developing Skills: Since you are constantly made to try out different avenues in banking, you develop a set of skills that are standard across all careers. For eg, inter-personal skills, customer relations, financial management, strategic thinking and planning etc. There are very few other career options where you can get all these skills, which makes a bank job even more worthwhile.
  • Alternate Career Options: With all the skills mentioned above, you can always jump to higher paying jobs after spending a few years in a bank job. Not only will this help you get a much higher pay hike, but even if you want to start out on your own, you have most of the skills necessary. There have been instances of people leaving their own bank job and starting out as entrepreneurs.
  • HOLIDAYS !!! Last but not the least, public sector banks have more number of holidays than you would expect in a private organisation. This means no festivals missed with the family. Hence, a bank job helps you to maintain an effective work-life balance.

 How To Get A Bank Job?

Getting a bank job is an easy as well as a difficult task. Which one of this holds true for you, depends on you. There may be many aspirants, probably lacs of them, trying to secure a bank job, but then again, it is not necessary that desire is always greater than strategy.

I was of the belief that a desire is all you need. But after I made a strategy, I cracked IBPS as well as SBI PO exam, back to back. To read about my journey, visit this link.

SBI has its own exam for conducting recruitments for both PO as well as clerical posts. Many public sector banks usually take the help of IBPS for conducting their recruitments. Stay tuned to this blog to find out when these posts are out and how you can apply for them !!

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{ 2 comments… read them below or add one }

Sumit Chauhan June 30, 2015 at 12:59 pm

I also wanna do job in banks

Reply

dharamveer October 23, 2015 at 6:51 pm

Hi friends, I m a BTech graduate.I m working as Swo in O.B.C
I m happy with my job.Actually its both beneficial as Security and Prestige wise.And nowadays banks use high tech devices and having technical knowledge of computer hardware and software helps alot in bank to have ur good impression among others.

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