With the newly focused approach on digitalization and expansion of banking sector, thanks to the present BJP government, making a career in banking sector has become even more coveted . More and more job seekers are taking up the banking as a career because A career in Banking Sector gives good salary and job security. With the expansion of banking activities , job opportunities at various levels are also growing every year. You will find here complete details on How to Make A career in Banking Sector ?
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Career in Banking Sector : Most Useful Details for You
The Banking sector is one of the most preferred employment destinations in India . This article gives good details on How to make A career in Banking Sector.
Do you want a career in banking sector?
As far as A career in Banking Sector is concerned, recently, banking sector announcer over 14,500 jobs as a Clerk , Probationary Officer ( PO ) and Specialist Officers across India.
Is B.Com necessary to make a career in Banking and Finance?
The fact is , India’s major recruiters for banking industry ( IBPS ,SBI ) desire simple graduation in any stream for the recruitment of officers or clerical staff .
However , if you are planning to make your career in the banking sector , it is advisable that you should earn a bachelor’s degree in finance or accounting or positively do a degree course in business administration. It will help you in obtaining relevant knowledge before you enter in this industry .
Hence , you should prefer a B.Com or Business administration degree for banking career .
In case , you have not done your graduation in these streams , then you should take admission in MBA ( regular or distance mode ) and keep appearing for the IBPS , SBI Recruitment Tests conducted for Officers ( PO / Management Trainee ) / Clerical cadres .
Related : How to Prepare for Bank PO Examination ?
Related : How to Prepare for IBPS/SBI Clerk ?
Since, the competition for selection is a bit high , you must prepare proper preparation for these tests to come out with flying colors .
Which Degrees can get you a Career in Banking Sector ?
If you are planning to enter into banging sector then obtaining any of the following five types of qualifications shall be very helpful for you .
Career in Banking Sector is good for these five streams of qualifications :
Business Administration / Finance. (proper time management and Risk management of money are the two most important aspects of Commercial banking ) .
- Information Technology
- Chartered Accountant ( CA )
- Certified Public Accountant ( CPA )
- Company Secretary ( CS )
The possession of any of the above mentioned qualifications will give you an edge over others as these skill are in great demand by banking sector .
What jobs are there in banking?
If you want to make A career in Banking Sector, then you must know “What Are Different Positions for Jobs in the Bank ?”
Precisely speaking about the “Banking Career Information”, we can mention the following positions :
- Bank Teller : Bank tellers are the first line of advertising for a bank.
- Bank Marketing Representative : A bank marketing representative is an individual who markets banking products to customers .
- Internal Auditor : Audit is extremely important in banking environments.
- Branch Manager
- Loan Officer
- Data Processing / IT Officer
- Law Officer
What are the Career Paths in Banking Sector?
What is the Career in Banking Sector ? Banking sector offers multiple career paths that you can choose as per your qualification and experience . The major “banking career paths” are given as under :
- Auditor : An auditor is an accountant that reviews financial records to make sure everything is fine in an organization .
- Budget Analyst
- Financial Analyst
- Financial Examiner
- Financial Manager
- Investment Banker
- Loan Officer
No doubt, the Banking Industry has emerged as one of the best recruiters in India and in the next five years, banks will have to recruit lakhs of people at officers & clerks grade to fulfill its diversified requirements .
Now, banks , besides the routine banking activities , have diversified their activities into new products and services that include opportunities in credit cards, consumer finance, wealth management, life and general insurance, investment banking, mutual funds, pension fund regulation, stock broking services, custodian services and private equity etc.
Further, most of the leading Indian banks are going global, setting up offices in foreign countries themselves or through their subsidiaries.
The expansion of the banking sector and its convergence with the other financial sectors such as insurance, NBFCs and Capital markets, retirement of the existing employees and financial inclusion have created more number of opportunities in the banking sector.
Infrastructure, Risk Management, Banking and Financial Services, Management Information Systems and Customer Relations Management are a few other areas where banking sector is expanding its activities.
In brief , the following are the main business activities of modern banking services :
- Loans ( Home Loan , Business Loan , Product Loan , Corporate Loan etc.)
- Current & Saving accounts maintenance
- Debit and Credit Cards
- Merchant Services ( credit card processing, reconciliation , reporting and check collection etc. )
- Treasury Services ( payroll and deposit services )
Hence, now you know how you can make a career in banking sector. In the first phase the government has introduced NRA CET to a limited number of Exams Like SSC CGLE, IBPS. However, Gradually, NRA CET would become the first level of the selection process of most of the government recruitment tests. Hence, it should give you the answer to the question “How to make A career in Banking Sector”. Yes, since you have got complete details about this exam in this article “A career in Banking Sector?” you must apply for NRA CET Exam if you want to get a government .