|Banking is one of the most sought after career choice among the students. It is an entry into a well paid, secure and status career. Though it may appear that these jobs are meant for commerce/economics students but the fact is that majority of bank officers are from different streams of education. Further, it is also not a fact that top positions in Foreign/Multinational Banks are held by MBA's from Premier Management Institutes. Though the Public sector Banks are now appointing management graduates, CAs and CFAs but bright graduates from any subject can get entry in the Public sector Banks through an All India Examination conducted by them.
The emergence of technology-driven new private banks have broadened the scope and range of banking service and entry of Financial Institutions are into the short-term lending business, is resulting in needs for more professionals. Now banks are in the mutual funds , securitisation business credit cards, consumer loans, housing loans, housing loans besides trading in gold and forex activities.
Generally banks look for good communication skills, good interpersonal skills, the ability to deal with customers, an alert nature, and basic knowledge of the industry. However to join foreign or private sector banks at higher than entry level one needs specialisation in some specific areas. For example expertise in project analysis, credit appraisal skills, managing huge loan portfolios general and foreign exchange and money .Good computer knowledge is always preferred.
There are front office personnel in all banks, and then there are supervisors who handle most back office operations like completion of transactions, general ledger work, overall supervision.Banks are now offering good salary packages. Most Public sector officers can begin in the Rs 6000-8000 per month scale. MBAs recruited by private and foreign banks are given plum packages to the extent of about Rs 25000-30000 a month.
Useful Information about Banking