One of the rapidly growing sectors nationwide is Banking Sector. This growth is opening doors for the youth to gain secured career.

  • In India, big corporate (Reliance and Tata) are waiting to get authorization from Reserve Bank to start new banks. The final decision on this may be made within three to four months. If the decision has been made to open new banks, there will be more job opportunities available in the market.
  • In the nation’s banking industry, Public sector banks, Private Sector Banks and Foreign banks are important.

Career in Banking

Selection Process: In any kind of bank, only local citizens will get attendant jobs. Generally there jobs will be placed by recruitment agencies.

  • Recruitment of Clerical and Officer Level are carried by general written examinations. IBPS is conducting common written examinations for recruiting people in public sector and private sector banks. State Bank of India, for its and for their subsidiary banks conducting exclusive recruitment examinations.
  • Foreign banks are conducting campus recruitment in reputed institutions (IIMs). Sometimes they are attracting experienced employees in the Public banks by offering high pay packages.

Career in Banking

Direct Recruitment: In some cases on urgent situation banks are following direct recruitment method in need of experienced employees.

Salaries: Salaries of Clerical cadre starts from 6,200 to 19100 rupees. Nowadays, the salaries which are including all allowances are starting from 10000 (according to the place of living) rupees. A PO in the banking Sector can get a monthly Rs.14, 500 as salary. According to the job location they get a beginning package of Rs 21000.

Career in Banking

Promotions: one can get promoted as officer if they have five years work experience as clerk. Afterwards, according to their performance and experience, within 5 years they can enter into junior management and later general management ranks. Employees who joined in officer level with promotions they get in to junior management stage to middle management rank and later senior management level. They can also get in to top executive cadre related jobs. There are promotions starting from 1st to 7th rank scale.

Fact file: according to latest survey conducted by ASOCHAM there will be around 8 lakhs jobs in the banking sector in the coming 6 years.