Career in banking domain is a extensive alternative among a lot of students. It is a room access to a well paid, secure and good career. Occasionally students feel that these opportunities are meant for commerce / accounts students but the fact is that absolute majority of bank officers are from various branches of education. Also, it is a fact that many senior level positions in Foreign/Multinational Banks are held by Non MBA’s / Management Graduates. Though many Public sector Banks are now recruitment management graduates, Chartered Accountants and CFAs but bright graduates from any stream may get an entry in the Public sector Banks through an All India Examination conducted by them.
With the emergence of technology, new private banks have broadened the scope of banking service and entry of Financial Institutions are into the short-term lending business, is resulting in needs for more professionals. Banks are in the open-end investment company, business credit cards, and consumer loans, housing loans, housing loans besides trading in gold and forex activities.
Generally banks hire candidates with good communication skills, good interpersonal skills, and the ability to deal with customers, an alert nature, and basic knowledge of the industry. Anyway foreign banks or private sector banks at higher levels search people with specialization in some specific area of work. Example: expertise in project analysis, credit appraisal skills, managing huge loan portfolios general / foreign exchange and money management. Good knowledge of computers is essential.
There are a lot of front office personnel in banks, and then there are supervisors who handle most back office processes like completion of transactions, general ledger work, and total supervision. Banks are now offering very good salary packages. Most Public sector officers can start in the Rs 5000-7000 per month scale. Business Management Graduates / MBA are employed by private and foreign banks with very good pay packages to the extent of around Rs 24000 – 31000 a month.
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