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Banking

Summary

A career in banking services is one of the most lucrative and stable prospects for individuals who are enthusiastic about the field of commerce and finance. One needs to be good with numbers and should enjoy managing finances. Banking and allied services are the cornerstones of the modern economic structures. With multiple private and public sector banks mushrooming in the country, there is huge demand of talented professionals in this domain. Job opportunities in the domain exist straight after graduation and with specialized degrees one can take on more high paying jobs in this sector.

Career Opportunities in Banking

  • Public/Private sector banks
    To work in a private or a public sector banks one should first clear Bank PO exams for the entry level jobs. For higher level jobs such as that of a manager usually requires a higher degree such as that of a Chartered Account. Banking jobs offer stable and fairly remunerative jobs to individuals with good mathematical and management skills.
  • Investment Banking/Merchant Banking
    An Investment banker is someone who is a specialized professional trained in fund management. He/she is also trained in risk assessment of securities, bonds and other tradable products. A strong interest in numbers and reading patterns is a must to be successful as an investment banker. A qualified professional can either work individually or can work in an investment bank such as JP Morgan and others. It is one of the most remunerative career options in recent times.
  • Credit Analyst
    A credit analyst is a trained professional who analyses, risk in various financial products such as securities, bonds, loans, etc. These professionals not only have the knowledge to predict markets but bigger national economies as well. A good trained individual can work with banks or brokerage firms. Usually a degree in finance and a higher degree in actuarial science is sufficient to enter the profession.

How to Pursue a Career in Banking

Stream Graduation After Graduation
path 1
Clear Class XII in any stream BA/B.ComBank PO Exam
path 2
Commerce BA/B.Com/CA/ICWAISBI/RBI exam
path 3
Commerce B.Com/B.EcoMBA in finance
path 4
Commerce B.Com/B.EcoCertification in Investment Banking

Important Facts

  • For Bank PO exams any graduate degree makes one eligible to take the exam. But for other courses, commerce with math in 12th standard is a must.
  • Although Bank PO exams do not have a requirement for math but one should have high proficiency in manipulating numbers and understanding patterns to be successful in banking related services.

Leading Institutes

Top Banking Institutes in India
College Location Website
Indian institute of management (IIM), Ahmedabad Gujarat www.iimahd.ernet.in
IIM, Calcutta West Bengal www.iimcal.ac.in
IIM, Bangalore Karnataka www.iimb.ernet.in
IIM, Lucknow Uttar Pradesh www.iiml.ac.in
FMS, Delhi Delhi www.fms.edu
IIM, Indore Madhya Pradesh www.iimidr.ac.in/iimi
IIM, Kozhikode Kerala www.iimk.ac.in
Management Development Institute, Gurgaon Haryana www.mdi.ac.in
Department of Management Studies, Indian Institute of Technology, Delhi Delhi www.dms.iitd.ac.in
Department of Management Studies, Indian Institute of Technology, Madras Tamil Nadu www.doms.iitm.ac.in
National Institute of Technology (NIT Trichy) Tamil Nadu www.nitt.edu
Vinod Gupta School of Management, Indian Institute of Technology, Kharagpur West Bengal www.som.iitkgp.ernet.in
Indian Institute of Management, Ranchi (IIM RA) Jharkhand www.iimranchi.ac.in
Indian Institute of Management, Rohtak Haryana www.iimrohtak.ac.in
Rajiv Gandhi Indian Institute of Management, Shillong Meghalaya www.iimshillong.in
Xavier's Institute of Management, Jamshedpur Jharkhand www.ximr.ac.in
University of Delhi Delhi www.du.ac.in
Banaras Hindu University Uttar Pradesh www.bhu.ac.in
University of Mumbai Mumbai www.mu.ac.in
University of Madras Madras www.unom.ac.in
JamiaMiliaIslamia Delhi www.jmi.ac.in
SavitribaiPhule Pune University Maharashtra www.unipune.ac.in
Punjab University Punjab www.puchd.ac.in
Loyola College Tamil Nadu www.loyolacollege.edu
Stella Maris College Tamil Nadu www.stellamariscollege.org
Madras Christian College Tamil Nadu www.mcc.edu.in
Christ University Karnataka www.christuniversity.in
St. Joseph's College of Commerce Karnataka www.sjcc.edu.in
Symbiosis Society's College of Arts & Commerce Maharashtra www.symbiosis.ac.in/symbiosis-colleges/Symbiosis-Colleges.php
AbedaInamdar Senior College Maharashtra www.abedainamdarcollege.org.in
Mithibai Arts Chauhan Institute Maharashtra www.mithibai.ac.in
KJ Somaya College Maharashtra www.somaiya.edu/kjsac
National Institute of Securities Markets Maharashtra www.nism.ac.in/index.php

Banking Entrance Exams

Undergraduate
College Tentative Date Important Elements Website
IBPS Common Written Exam (CWE) for PO Spetember/October
  • English
  • Quantitative Aptitude
  • Reasoning
  • General Awareness
www.ibps.in/cwe-probationary-officers-management-trainees/
SBI Probationary Recruitment Exam June/July
  • English
  • Quantitative Aptitude
  • Reasoning
  • General Awareness
www.sbi.co.in
ICICI Bank PO Recruitment exam July/August
  • English
  • Quantitative Aptitude
  • Reasoning
  • General Awareness
www.icicicareers.com/icici_career/probationary-recruitment.html
Bank of Baroda PO Exam August/September
  • English
  • Quantitative Aptitude
  • Reasoning
  • General Awareness
www.bankofbaroda.com/index.htm
Axis Bank Young Bankers Exam July/August
  • English
  • Quantitative Aptitude
  • Reasoning
  • General Awareness
www.axisbank.com/
United Bank of India PO Exam August
  • English
  • Quantitative Aptitude
  • Reasoning
  • General Awareness
www.unitedbankofindia.com/english/recruitment.aspx

Work Description

  • Help in the financial requirements of individuals and businesses and provide advice and financial services
  • Analyze applicants financial status, credit, and property evaluations to determine feasibility of granting loans
  • Obtain and compile copies of loan applicants' credit histories, corporate financial statements, and other financial information
  • Meet applicants to obtain information for loan applications and to answer questions on the process
  • Explain to customers the different types of loans and credit options that are available, as well as the terms of those services
  • Review loan agreements to ensure that they are complete and accurate according to policy
  • Help customers manage their funds; answer quaries regarding the bank's products and services; troubleshoot problems related to customers, finances and management

Pros & Cons of a Career in Banking

Pros
  • Safe and Secure Job
  • Rewarding in terms of Money and perks
  • Good work-life balance
Cons
  • Work pressure can be high
  • Monotonous and low on creativity job
  • Needs a person to be very alert and accurate
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