A sure shot guide to score a job in Bank
A career in the banking sector is one of the most prestigious and secure options available in the job markets today. Banking as a career domain has always been considered as the one with faster professional growth, lucrative salaries, and a secure lifetime. A job in bank is not only a means to earn your living, but also serves as platform where you are on a learning curve throughout your career, which means that you will constantly acquire new skills, develop an expertise in the skills that you are armed with and sharpen your professional acumen. That means, a job in a bank not only nurtures you as a professional but also enriches you in several aspects of your existence.
In this hub, I am sharing all the essential information starting from skills, educational qualification for a job in bank and other essential information that will help you getting a head start in your first job in bank.
Skills that will make you efficient
Bank jobs recruiters look for candidates that can perform the tasks assigned to them, smoothly and efficiently. For the same purpose, recruiters scout candidates who have some basic minimum skill set or certain personality traits, that validate, in them, the possession of a particular skill. So here are the skills that are deeply looked at when hiring for a job in bank, and if you could develop these skills, in case you are not armed with, you can easily acquire them which shall boost your prospects of being hired for a job in bank.
This is one of the primary skills required to pursue a career in the banking sector. As a banker, you would be dealing with clients, colleagues, prospective clients, and business owners, in a nutshell, as a banker you would need to communicate with people at several levels. Expert skills in verbal and written mediums is what recruiters examine a candidate on.
If you lack in interpersonal skills, then try to polish your skills before you appear in an interview, as this skill is one of the major concerns of a recruiter and if you fail to impress your interviewer cause of your weak interpersonal skills, then your candidature might go for a toss.
A banker needs to analyse and determine the performance and future projections of a financial product, hence, as a banker you be would essentially involved in analyzing the financial health of a customer, his or her potential, which will guide you to suggest them a financial product best suited for their financial goals.
This would also be of considerable help in when you need to enhance the financial soundness of a sector, industry or a company by effectively utilizing the capital in hand for the purpose of higher profitability, leading to a flourishing financial health.
Financial Management Skills:
This is one of the hot skills that boost your candidature when applying for a job in a bank. Financial management skills are helpful to determine the financial potency of a client, customer or a business and suggest the most effective product to give rise to the financial health. This not only means that you need to know the intricacies related to banking, but also the understanding of stock, securities, bonds and equities along with in-depth knowledge of how they work and who are they best suited for, this is what will validate your expertise in financial management.
Are the skills that make you efficient in your daily job, to manage smoother workflow. And these skills are not confined to the banking sector but serve as the foundation of every job domain. Coordinating with other bankers, meeting deadlines, time management, planning, and scheduling; is all what comes under the umbrella of organizational skills.
Some major banks in India
State Bank of India
Royal Bank of Scotland
Punjab National Bank
Standard Chartered Bank
Educational qualifications and certifications that will amplify your candidature
Job in bank is easier pursued when you have an undergraduate degree or a post graduate degree in management. As a fresher you can make a debut in this job domain with a graduate degree in commerce, science or arts, however, a degree in commerce is preferred by employers as economics, accountancy, business administration are a part of the curriculum and serve as ready-made skills for a fresh graduate.
Post graduate degree in management with a specialization in finance, marketing, and sales; are associated to some of the high paying jobs in the banking sector. As a post graduate, your career would begin from the middle level management in a bank.
Some certifications like certified financial planner, certified financial analyst or chartered accountancy, will further elevate your job prospects and making your future scope reach out to the senior management level positions or C-level positions.
Financial Planners, Analysts, and Chartered Accountants, not only work for the enrichment of financial health of a retail customer, but also work towards improving the performance of a financial product offered by a bank.
Other than the above mentioned degrees and certifications, some banks have started their in-house institutions, which impart the necessary knowledge and develop the essential skills that make a graduate competent enough to land with a job in bank. Once you have certified yourself with any of the in-house institutes, then you will find a placement in the same bank which certified you as a professional banker.
The certificates are a great option for those from science and arts background, as it helps them absorb the nuances of the banking industry, in a classroom environment.
First year of your career in a bank
As a fresh undergraduate, you will perform the basic duties of a teller, customer service representative, associate or a back-end executive. These are entry-level roles, that help you absorb the nuances of a banking industry. You would be dealing with walk-in customers, solve their queries, undertake cash transactions or create reports and update customer database as a back end executive.
As a fresh post graduate, you will be a part of a team responsible for sales and marketing of a particular financial product. Sales is one of the common job responsibilities which is performed by every professional working in a bank, apart from the additional set of secondary responsibilities. In the first year, you will get a holistic experience of branch functions, and develop a specialization in a particular financial product.
Once you have completed your one year as a management graduate, you would be eligible for the position of a manager or a team leader, where you will supervise and mentor a fresh batch of graduates or post graduates, to pursue the tasks that you were responsible for in your first year of career.
As the number of years you spend in the industry, your skills, and domain knowledge will certainly be enhanced, making you eligible for a level up in your position.
If you are a fresh graduate or a post graduate, with the willingness to keep abreast of all the developments in the financial markets, an unending desire to pursue bigger challenges and goals, along with the ability to convince people basis your knowledge and expertise, then a job in bank is a right fit for your career aspirations and personality traits.
A career in banking industry is associated with faster career growth, increasing earning potential and an elevated social status in the society, if this is what you wanted from your professional being then going for a career in banking industry can bring your dreams and desires to life.