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Banking as a Career Option / How to Apply for a Bank Job (Private & Public)

Banking Sector as a Career Option

All of us are aware that Banking is an integral part of our country’s financial system and our economy relay heavily on its functionality. Banking has emerged as most sorted profession among youth,  many youngsters are choosing Banking as a profession because of several  lucrative benefits associated with it . It is considered to be the safest and most stable profession as under normal course Banks don’t resort to firing or Job Cuts. A Banker is considered to be a reputed professional in society, there are monetary benefits which includes Salary, Perks and various other allowances. Gone are the days  where students used to eye profession of Doctor, Engineer as these days there is a trend that even Medical and Engineering students aspire to become a Banker.

(checkout our post on Banking as a Career Option for MBAs)

How to Get a Apply for Private Sector Banks

Let us examine the gateway of entering the Banking Industry. As we know primarily there are two categorization of Banks – Public & Private. Private Banks like ICICI, HDFC Bank, AXIS , Kotak etc have their independent process of recruiting a candidate. In such banks Executive or Assistant Manger is the entry Level . These banks usually resort to Campus Recruitment wherein a Candidate passes through stages like Written Test, Group Discussion & Personal Interview. One very popular form of Hiring these days is Training Cum Recruitment Program which is being run by these Banks with full autonomy. Banks charge from candidates their fee and pay them a fixed stipend for practical training after which these candidates are absorbed as Officers/ Executives. Some  Public Sectors Banks such as Bank of Baroda have also started such programmes.

Eligibility and Qualification for Private Banks

Though a Graduate Degree should be enough to find you a job in Private Sector Bank, but if you are looking for a better designation and salary, it is advisable to have a Management Degree (MBA) along with your graduation. Some of the roles for which private banks hire candidates are Marketing and Sales, Operations and Middle Management Positions.

(checkout our post on Private Sector Banks PO Program)

How to Get a Apply for Public Sector Banks

Public Sector Banks have a special place not only in minds & eyes of a common man but also the candidates who aspire to become a Banker as  Work Pressure & Private ownership  degrade Private Banking in comparison with Government Banks. Earlier, these banks used to conduct their individual exams. As our economy was developing at a fast pace and more vacancies were being created in Banking Sector due to retirements and Financial inclusion, need of an autonomous body to conduct these exams was felt, thus Institute of Banking Personnel Selection (IBPS)  came into the picture. Since then , this entry process has become more transparent, centralized and systematic. Presently IBPS is conducting exams for Clerk, Probationary Officer, Specialist Officer (IT, Marketing , HR , Finance , Technical field) for Nationalized Banks also its conducting separate exam for Regional Rural Banks. For more details on IBPS, you can visit their website at www.ibps.in. As more and more Banks are coming up this profession is certainly one of the rare things to cherish and “eye for ” from the employment perspective.

Eligibility and Qualification for Public Banks

You need to have a Graduation Degree if you wish to apply for IBPS PO or Clerk Exam. Though there is no percentage criteria, there may be a possibility of having a 60 percent marks criteria in final year, so to be on the safer side, candidate who are in the final year or degree college should try and achieve higher than 60 percent, if they wish to pursue a career in Banking industry. For the post of Specialist Officers you need to have a specialisation (a degree and experience) in a particular field to apply for the post. Some of the roles for which Government Banks hire candidates are Probationary Officers, Clerk, Legal / Law, Chartered Accountant (CA) and MBAs.

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Updated: September 8, 2014 — 11:27 am

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