Banking

Banking is one of the most secure, well-paid, and satisfying careers pursued by graduates in commerce as well as other streams. The emergence of new technology-driven private banks and financial institutions has broadened the range of banking services. Now banks offer a variety of services: mutual funds, securitization, credit cards, consumer loans, housing loans, gold trade, and forex activities. These expansions have opened up several avenues for young graduates in banking. Some of the prerequisites of this field are good communication and interpersonal skills, the etiquette to handle customers, problem-solving skills, ability to listen to and understand details, and a basic knowledge of the industry.

Courses and Eligibility:

For pursuing a career in banking, one needs to have a graduation, preferably in commerce or mathematics. Many institutes offer postgraduate diplomas in banking and finance through distance learning. A first-class bachelor’s degree (i.e., with a minimum of 60% marks) or an equivalent grade is all you require to get employed in a reputed organization. Though the public sector banks chiefly appoint management graduates, CAs, and CFAs, bright graduates from other subjects too can get entry through the all-India examination conducted by the various banks.

Career Prospects:

Openings are available in banks at various levels, from clerical level to the level of probationary officers. There are front office personnel in all banks, and then there are supervisors who handle most back-office operations such as completion of transactions and general ledger work. In private and international banks, graduates can aspire to several lucrative posts: Project Finance Manager, Equity and Fixed Income Settlements Specialist, Commercial Finance Manager, Compliance Officer, Corporate Banking Trade Analyst, Cash Management Operator, and Consumer Banking Asset Operator. One can also look for various other job profiles such as Business Analyst, Market Risk Analyst, Corporate Banking Credit Analyst, Consumer Banking Asset Operation Manager, Forex Head and Corporate Banking Branch Head, in a range of private banks such as ABN AMRO, Deutsche Bank, Barclays PLC, HSBC, Citibank, N.A. Dresdner Bank, Goldman Sachs, Lehman Brothers, Standard Chartered Bank, Royal Bank of Scotland, among others.

Remuneration:

Most public sector officers can begin in the Rs 6,000–8,000 per month scale. The annual entry-level salary ranges from 2.65 lakhs to about 45–48 lakhs for people with relevant skills and about 13–14 years of experience. MBA graduates recruited by private and foreign banks are given packages to the extent of about Rs 25,000–30,000 a month.