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CAREERS IN BANKING
Banking is considered as one of the most challenging and most promising sectors in the country. Career Openings are available at various levels, from Bank Clerical to Probationary Officers (PO). There is great job security and the salary is very good, besides the perquisites of loans for employees. It is a lucrative career: till recently careers existed only in nationalised banks, but with liberalisation, a host of private banks have been set up. As a result, demand for trained professionals has increased substantially. The private banks offer better salaries but then the job security is also less.
The advertisements for recruitment appear from time to time in newspapers as well as the Employment News. Recruitment is done on the basis of a written test, which consists of:
a) Test of Reasoning
b) Quantitative Aptitude
c) General Awareness (speciific reference to Banking subject)
d) English Language
e) Computer Awareness (Plus marketing Awareness - for SBI)
All sections contain objective-type questions. In Reasoning, there is verbal and non-verbal sections. In English, the test is aimed at judging the overall comprehension and understanding of the language. The Descriptive Paper can be answered in English or Hindi. It judges the written expression of the candidates. All sections must be qualified.
Assess your aptitude before you join a career in banking. All jobs require hard work. The personality required is a mix: for marketing and meeting customers an outgoing personality is required, while for keeping accounts a diligent and persevering attitude is required.
How to Prepare
Bank exams -- both clerical/Assistants and P.O. and Specialist Offiicers -- are taken by several lakhs of candidates. There is intense competition as the number of vacancies is small. A high degree of preparation is required in order to get through. To be successful, regular practice in all the sections is essential.
Now a days, IBPS and SBI take recruitment Test in two parts - Preliminary Tests comprising of Test of Reasoning, Quants and English with atotal of 100 marks. The selcted few are then called for appearing in Main Examination coprising of above 5 subjects with a total of 200 marks.
It is advisable to do the basics first. After this, start doing section tests, from Reasoning, Maths, English, etc. Try to get a good score in each section. After that, do some full-length tests which contain all the sections, within the stipulated time. Candidates are also advised to prepare for the interview simultaneously and take care to develop their personality and confidence. After the written examination, the short-listed candidates are called for an interview. General questions are asked to check the candidate's General Awareness and relevant issues related to Economics.
We offer regular class room tutorials for bank preparatory examinations. There is, however, no substitute for self-study and self-preparation. Regular studies, systematic preparations, self-confidence and regular practice, is all that is required to pass this exam.
While recruitment in 20 member nationalised banks is done through competitive exams. by IBPS in a consolidated exams., usually conducted twice a year. SBI carry seperate recruitment test for their own Bank and other Associate banks. The private sector banks recruit MBAs and Chartered Accountants directly. Lower down the line, fresh graduates can hope to find jobs as direct marketing executives, personal banking executives and home banking executives. For such jobs, all that is needed is a pleasing personality.
Recruitment in Public sector banks are on a rise for the past few years, considering the large number of retirements and opening of numerous branches accross India. This could be good news to those eyeing for Banking jobs in India as plans of recruiting 85,000 banking staff over the next 3 years has been announced. This forecast was shared by the Finance ministry in an event held recently.
As banking is a growing industry, the job prospects are good. In nationalised banks, one can expect regular promotions while in private banks it is performance that is rewarded. Promotions may be swift for deserving candidates. But it is not necessary to be a banking professional only to get into banks. As financial services are getting automated, the industry requires a large number of computer experts, both in computer maintenance and software. Private computer service contractors are also in great demand. It would be important to have a BE or MCA degree for such jobs.
Bank jobs come with responsibility. As the banker handles other people's money, it is a job that requires trust. The person must also be service-oriented and like to look after customers. This is where private banks score over nationalised banks, but as profitability begins to play a major role in nationalised banks, there is bound to be pressure there as well to keep customers happy.
One reason to be excited about banking as a career is the rapid change taking place. Not only is there fresh competition, but technology promises to change the face of banking forever. The jobs are becoming comfortable, in the sense that the physical environment is pleasing and computerisation has taken the load off tedious jobs such as balancing accounts. As competition increases, a good banker will certainly be in great demand.
On the other hand, a career in banking entails frequent transfers. Also, it must be remembered that a banking job involves working long hours. When accounts are to be finalised, a bank employee has to put in long hours indeed.
COMMON TEST FOR BANK RECRUITMENTS :
The Government has also decided to conduct a common recruitment exam. for vacancies in public sector banks through Institute of Banking Personnel Selection (IBPS). Many public sector banks, at present, 20 member Banks, are currently utilising the services of IBPS for orgenising &conducting the recruitment tests. It is announced that they shall conduct two TESTS in a year, semi annually.
Just to give you a perspective, about 15 lakh candidates registered for the Common P.O. exams every year.
In all, 40 to 42 Lakhs candidates register for Bank Clerical/Assistant level Examination every year too.
This require you to prepare very methodically and aim to score really high marks in order to not only qualify but also to obtain a call from the Banks.
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IBC Academy, specialise in the domain exclusively for Banking domain such as IIBF courses viz. JAIIB/DBF and competitive exams, such as Bank PO/Clerks, RBI "B" Grade etc. IBCA publishes quality books which are incomparable and thus are found very useful to crack these career and competitive exams.
At IBC Academy, we understand the recuruitment process of banking Industry well, as a senior banker and thus present to you a well-researched, compiled set of study materials and Test series..