Career that makes bright-IPB

How to Get a Banking Job?

By April 7, 2022 No Comments

A banking career is extremely rewarding in terms of salary and job security. If you can handle numbers and thrive in a fast-paced work environment then a banking job might be custom made for you. However, before searching for a bank job, you should be well versed in the eligibility and process to apply for a bank job. Worry not, we got you! With the help of this article, you will learn about how to get a bank job, the skills and qualifications needed, and how much you can earn in this profession.

Getting a job in Public Sector Banks

Follow these steps for a better overview on the process of applying for a job in a public sector bank:

  1. Research thoroughly:

The job opportunities for you in a public sector or government banks include a bank clerk, probationary officer (PO) or specialist officer (SO). A government job can only be secured by Indian Nationals.

There are three institutes providing a government bank job:

  • The Institute of Banking Personnel Selection (IBPS)
  • Reserve Bank of India (RBI)
  • The State Bank of India (SBI)

Each of these institutes conducts its own examination and has a different eligibility criteria.

  1. Understanding the education and qualification required:

The three institutes mentioned above have distinct qualifying conditions, such as age limits and educational requirements for taking their banking career entrance exams. These are the following:

IBPS

IBPS provides a common entrance test for government bank job roles such as PO, SO, and clerical cadre, as well as Group A and Group B assistant positions in Regional Rural Banks (RRBs). The following are the eligibility requirements for various positions:

  • Clerical cadre and PO: These two positions are open to anyone between the ages of 20 and 30. They must be certified graduates in any field, have some basic computer skills, and be able to speak, write, and read effectively in the official language of the state for which they are applying.
  • SO: Any candidate between the ages of 20 and 30 years old is eligible for this position, and the educational requirements vary based on the position. As a SO, you can work in any public sector bank as an IT officer, agricultural field officer, law officer, HR/personnel officer, or marketing officer.
  • RRBs: RRBs must meet the same qualifying requirements as POs. Candidates can also apply for office assistant positions, which are similar to clerical cadre positions in urban areas.

SBI

  • For the PO and bank clerk positions, the SBI administers a common written test. For the PO position, candidates must be between the ages of 20 and 30, and for the bank clerk position, candidates must be between the ages of 20 and 28. Candidates must also hold a bachelor’s degree from an approved university recognised by the Indian government. Students who are in their final year of studies are also eligible to apply.

RBI

  • The Reserve Bank of India (RBI) holds a standardised written test to select applicants for Grade B officer positions. Candidates must hold a bachelor’s degree. The age range for this position is 21 to 30 years old. Candidates with MPhil degrees, on the other hand, can apply until they are 32 years old, while those with PhD degrees can apply until they are 34 years old.
  1. Written Examinations are to be cleared:

To get a job in a government bank, you need to appear and clear one of the following written examinations:

  • IBPS Clerk
  • IBPS PO
  • IBPS SO
  • IBPSRRB
  • SBI Clerk
  • SBI PO
  • SBI SO
  • RBI Officer Grade B

There are three phases to these exams: preliminary, mains, and interview. After passing the preliminary exam, you will be able to take the mains exam. To get a job at a bank, you must pass each level of the examination. The final list of candidates is determined by their performance in these three phases.

What to study for a banking exam?

For clearing any of the banking exams, study the following topics:

  • Reasoning abilities
  • Quantitative aptitude
  • English
  • Computer knowledge
  • General awareness of economy and banking

Getting a job in a private sector bank

In private sector banks, you can work as a personal finance adviser, private banker, investment banker, bank teller, business development manager, or relationship manager, depending on the positions available and your skills. The following are the steps to getting a position at a private bank:

  1. Complete your bachelor’s degree

A majority of private sector banks require candidates who have a bachelor’s degree. You should be careful while choosing your graduation subjects after 10+2 as most banks usually prefer a degree in finance, accounting, business or economics.

  1. Pursue higher education in banking

Consider pursuing higher education or acquiring certifications in banking-related subjects to improve your chances of getting into a private sector bank and earning a higher pay. An MBA in banking, for example, can help you get hired for high-level banking positions. You can even get a diploma in banking to help you advance your job.

  1. Gain a thorough understanding of how job portals operate

On their job portals, most private sector banks post their job openings. You can also look through bank career pages.

  1. Be aware of the eligibility requirements and educational requirements

Each bank job has its own set of eligibility requirements. Some positions only require a high school diploma, while others may demand an MBA or other related post-secondary education. Excellent computer skills are also required for employment in any private-sector bank.

  1. Go through the hiring procedure before applying

Many private banks will administer a written test to assess your overall aptitude abilities. This is usually followed by a group discussion and an interview. The hiring process differs from one bank to the next. One bank may prefer applicant psychometric profiling, while another may prefer a group discussion. So, visit the websites of each bank to learn more about their hiring procedures.

  1. Be aware of the service bond

Many private banks will want you to sign a service bond for a period of one to two years. A candidate cannot quit or resign before the service bond is completed. Before signing the service bond, read the terms and conditions.

Average salary for bank jobs

A bank officer’s average salary in a private sector bank is ₹2,21,984 per annum while the average salary of a clerk is ₹3,70,853 per annum. The salary of a relationship banker on the other hand is ₹2,49,794 per year. The range of salary depends mainly upon your qualification, position, experience and skills.

Obtaining a career in a bank necessitates the acquisition of certain skills.

The following are some of the most frequent abilities needed to work at a bank:

  • Customer service
  • Problem-solving
  • Teamwork
  • Thinking analytically
  • Trustworthiness
  • Determination
  • Confidence
  • Communication
  • Technical knowledge in the banking industry