How To Make a Career in Banking

A career in the Banking sector, whether in India or abroad, is one of the most prestigious jobs. It offers a high salary, multiple benefits, and job security. Banking has always been a much sought-after career. Despite all the changes in technology, the revolutions in the business world, and all the new and upcoming job opportunities, a career in the banking sector is still considered one of the most attractive job options.

Every career option has some perks. It can be a high salary, power, prestige, security, and/or satisfaction, especially for jobs in the public service sector.

The banking sector has multiple perks and benefits too:

• It’s a highly reputable job, both from a personal and societal perspective.

• Banks are in a way community service centres, and working in the banking sector can give you the satisfaction of doing public service.

• The salaries of employees in this sector are quite high, not only in India but also overseas.

• Recessions in the economy have no effect on banks since they are the backbones of the country’s economy.

• Even having a basic knowledge of finance and commerce can get you a well-paying job in this sector. 

• There are many types of jobs in this field. You can choose and apply for them according to your preferences.

• You don’t have to be experienced to start working; freshmen in this field can get multiple job opportunities too.

• You get numerous compensations and pensions, especially if you have worked with government banks.

• There’s no limit for promotions.

Banking is the perfect sector for highly ambitious individuals and professionals. Along with skill development, there is also a level of job satisfaction in this sector.

There are a few important skills that can be of advantage in the banking sector:

• Mental mathematics

• Communication skills

• Analytical skills

• Attention to detail

• The ability to deal with customers

• Critical thinking

• Technical skills

Here is a list of courses you can opt for after graduation if you wish to pursue banking as a career:

• MBA in Banking and Finance

• Master’s in Financial Mathematics

• Master’s in Monetary and Financial Economics

• Master’s in Finance or Accounting

• Master’s in Banking and Insurance

• Master’s in Commerce

• M.Voc in Banking, Stocks, and Insurance 

There is a lot of competition for bank PO (probationary officer) jobs as they are in the government sector. The qualifying examinations are getting tougher with each passing day. Stability, salary, security, and multiple other benefits on offer attract a lot of young aspirants to this sector.

The selection process for the Bank PO exams has two stages of written examinations followed by an interview. Candidates have to clear all the stages to be able to work in this sector. 

The two stages of written examinations are: 

1. Preliminary exams

2. Main Examination

The preliminary exams are conducted to shortlist candidates for the mains. These exams have objective questions consisting of multiple-choice questions (MCQs). The main examination has both objective and descriptive tests.

There’s a definite exam pattern and a vast syllabus. The candidates should know the question pattern of the bank exams beforehand. For this, they must take mock tests, solve previous year’s question papers, and practice papers regularly to score well and clear the exam in the first attempt itself.

The main subjects from which questions are asked in the exam are:

• Basic and Advanced Mathematics

• Logical Reasoning Ability

• General English

• Comprehension

• Spelling

• General awareness and current affairs

• Marketing aptitude

• Computer Awareness

Planning a career in the banking sector is not very difficult. With proper preparation and time management skills one can excel in this field.