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Banking As A Career

Banking As A Career

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.

How to Pursue a Career in Banking

StreamGraduationAfter Graduation
Path 1
Clear Class XII in any streamBA/B.ComBank PO Exam
Path 2
CommerceBA/B.Com/CA/ICWAISBI/RBI exam
Path 3
CommerceB.Com/B.EcoMBA in finance
Path 4
CommerceB.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
CollegeLocationWebsite
Indian institute of management (IIM), AhmedabadGujaratwww.iimahd.ernet.in 
IIM, CalcuttaWest Bengalwww.iimcal.ac.in 
IIM, BangaloreKarnatakawww.iimb.ernet.in 
IIM, LucknowUttar Pradeshwww.iiml.ac.in 
FMS, DelhiDelhiwww.fms.edu
IIM, IndoreMadhya Pradeshwww.iimidr.ac.in/iimi 
IIM, KozhikodeKeralawww.iimk.ac.in 
Management Development Institute, GurgaonHaryanawww.mdi.ac.in 
Department of Management Studies, Indian Institute of Technology, DelhiDelhiwww.dms.iitd.ac.in 
Department of Management Studies, Indian Institute of Technology, MadrasTamil Naduwww.doms.iitm.ac.in 
National Institute of Technology (NIT Trichy)Tamil Naduwww.nitt.edu 
Vinod Gupta School of Management, Indian Institute of Technology, KharagpurWest Bengalwww.som.iitkgp.ernet.in 
Indian Institute of Management, Ranchi (IIM RA)Jharkhandwww.iimranchi.ac.in 
Indian Institute of Management, RohtakHaryanawww.iimrohtak.ac.in 
Rajiv Gandhi Indian Institute of Management, ShillongMeghalayawww.iimshillong.in 
Xavier's Institute of Management, JamshedpurJharkhandwww.ximr.ac.in 
University of DelhiDelhiwww.du.ac.in
Banaras Hindu UniversityUttar Pradeshwww.bhu.ac.in 
University of MumbaiMumbaiwww.mu.ac.in 
University of MadrasMadraswww.unom.ac.in 
JamiaMiliaIslamiaDelhiwww.jmi.ac.in 
SavitribaiPhule Pune UniversityMaharashtrawww.unipune.ac.in
Punjab UniversityPunjabwww.puchd.ac.in 
Loyola CollegeTamil Naduwww.loyolacollege.edu 
Stella Maris CollegeTamil Naduwww.stellamariscollege.org 
Madras Christian CollegeTamil Naduwww.mcc.edu.in 
Christ UniversityKarnatakawww.christuniversity.in 
St. Joseph's College of CommerceKarnatakawww.sjcc.edu.in 
Symbiosis Society's College of Arts & CommerceMaharashtrawww.symbiosis.ac.in/symbiosis-colleges/Symbiosis-Colleges.php 
AbedaInamdar Senior CollegeMaharashtrawww.abedainamdarcollege.org.in
Mithibai Arts Chauhan InstituteMaharashtrawww.mithibai.ac.in 
KJ Somaya CollegeMaharashtrawww.somaiya.edu/kjsac 
National Institute of Securities MarketsMaharashtrawww.nism.ac.in/index.php 

Banking Entrance Exams

Undergraduate
CollegeTentative DateImportant ElementsWebsite
IBPS Common Written Exam (CWE) for POSpetember/October
  • English
  • Quantitative Aptitude
  • Reasoning
  • General Awareness
www.ibps.in/cwe-probationary-officers-management-trainees/
SBI Probationary Recruitment ExamJune/July
  • English
  • Quantitative Aptitude
  • Reasoning
  • General Awareness
www.sbi.co.in
ICICI Bank PO Recruitment examJuly/August
  • English
  • Quantitative Aptitude
  • Reasoning
  • General Awareness
www.icicicareers.com/icici_career/probationary-recruitment.html 
Bank of Baroda PO ExamAugust/September
  • English
  • Quantitative Aptitude
  • Reasoning
  • General Awareness
www.bankofbaroda.com/index.htm 
Axis Bank Young Bankers ExamJuly/August
  • English
  • Quantitative Aptitude
  • Reasoning
  • General Awareness
www.axisbank.com/ 
United Bank of India PO ExamAugust
  • 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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