Career in Banking: Banking is now a niche career for those interested in commerce and accounting. For beginners, bank exam is the first step toward understanding the global economy, discovering the challenges of the marketplace, and identifying themselves with a career that offers them tremendous opportunities both within and outside of the country. With new banks opening every year as a result of service privatisation, the industry has plenty of room for graduates in any field.
Career in Banking: Important Points
A good grade point average in Class XII is required for admission to a bachelor’s program in banking. If you are a CBSE Board student, you will need at least an 80 percent overall to be admitted to a good college.
- Furthermore, good communication skills, aptitude for banking, sales, marketing, and money matters are expected from students in order to pass the interview.
- If you are a stock market enthusiast who enjoys trading stocks, mutual funds, and hedge funds and understands the benefits and drawbacks of personal loans and insurance policies, it will only help your career prospects.
- Banking programmes offered by various government and private organisations aim to provide students with concepts, tools, and techniques related to the banking industry.
For example, the bachelor’s degree programme in Banking and Insurance, in general, offers specialisation in the following areas:
• Micro Economics
• Effective Banking Communication
• Quantitative Techniques in Banking
• Organizational behaviour in Banking organizations
• Taxation of Financial Services
• Laws relating to Banking & Insurance
• Cost Accounting of B&I Services
• Equity Debt
• Corporate Laws governing Capital Markets
• International Business Management in Banking Organizations
• HRM in Banking Organizations
• Strategic Planning in Banking organizations
List of Careers in Banking
Banking, whether in the public or private sector, provides numerous rewarding and lucrative career opportunities. Let’s take a look at the top ten most popular banking jobs and careers:
| Career in Banking | Salary |
| Bank Manager | 7 Lakhs p.a. |
| Financial Accountant | 4 Lakhs p.a. |
| Financial Risk Manager | 11 Lakhs p.a. |
| Certified Public Accountant (CPA) | 7 Lakhs p.a. |
| Investment Banker | 10 Lakhs p.a. |
| Equity Analyst | 4 Lakhs p.a. |
Career in Banking: Funding/Scholarship
There are several options for financing your career in banking. You can apply for educational loans through banks, or if you are a working professional with an organisation that offers study programmes to employees, your company may fund your studies and allow you to repay after a few years.
Career in Banking: Job Prospects
In India, job opportunities for graduates and postgraduates in banking are plentiful. After completing a selective professional banking course, you will be offered a position as a banking sales officer with one of the private banks. Of course, your technical knowledge and basic communication skills are important in this process.
Furthermore, positions in insurance, personal loans, mortgages, collections, and back office operations are always available, allowing even average students to take advantage of the opportunities.
Career in Banking: Top Companies
You can expect placements with various companies if you graduate from a college with a banking degree or diploma.
If you graduated from a tier-1 college, such as the IIMs, you can expect to be hired for a high salary by banks in other countries, such as JP Morgan Chase and Fidelity.
Furthermore, as is obvious, top banks such as Barclay’s, Royal Bank of Scotland, American Express, Standard Chartered, and other financial institutions require hundreds of banking professionals each year and are more than willing to hire them for significantly higher salaries.
We have covered the detailed guide on Career in Banking. Feel free to ask any questions related to Career in Banking in the comment section below.
FAQs on Career in Banking
Candidates can find the most frequently asked questions related to Career in Banking here.
How do I get a job in the banking industry?
Banking is one of the most popular segments in terms of career opportunities. To begin a career in banking, one must first obtain a graduation degree from a reputable university, after which the individual must begin working in any of the various areas such as Tellers, Loan Officers, Investment Officers, auditors, and so on.
Is a degree required to work in a bank?
There are numerous lucrative jobs in banking that pay well and provide job security, but preparing for a career in banking typically entails earning a degree in Finance/Economics/Banking/Commerce and passing bank exams.
Are there and certificate courses in banking?
Yes. There are certificate courses in banking.
How much does a banking degree cost?
The cost of a banking bachelor’s degree ranges from Rs 10,000 to Rs 100,000, depending on the college. Diploma programmes at private institutions such as NIIT (National Institute of Information Technology) cost between Rs 1 and 2 lakhs. Depending on the college, you can expect to pay anywhere between Rs 50,000 and Rs 7,00,000 for a postgraduate diploma or master’s degree.