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Are you thinking of a career of banking?

Updated on August 19, 2014

Banking As A Career

Banking careers in India have never lost their charm. The lures associated to these jobs have always been attracting many since ages. Most of those hailing from the commerce stream are found seeking jobs in banks than any other industry. They are best fitted in this sector and the kind of growth these jobs assure, turns out to be a significant reason for banking to remain a desired abode for job seekers.

Banking in India has grown rapidly. With the technology becoming a major force driving it ahead. Over the years, all the banks operating all across the globe have upgraded in terms of technology as well as customer service. In India, the number of banks has been growing. More private banks are seen being launched in different parts of the nation. On the other hand, the number of foreign banks operating in the country, too is seen growing. With this, the opportunities for those seeking jobs in banking too have grown considerably. For most of the MBA graduates, investment and retail banking remain the major industries to get into.

Banking Jobs


What Jobs Can One Find in a Bank?

While one aims to work in a bank, a detailed research has to be done before the job hunt is on. One has to look for the suitable jobs and the future path associated to them. Some other factors such as average salaries and job responsibilities related to a bank vacancy are also needed to be researched upon.

Before you move ahead, you need to scroll through the various jobs, one can explore in a bank.

To start with, there exist some positions that are entry-level, which do not pay that well but can help you get started. These positions include that of a bank teller, customer care executive, and marketing executive. Below is a detailed analysis of the bank jobs.

Bank Teller

Every bank has positions of bank tellers, who are the first people that customers can go on to, for any kind of queries to related to banking transactions. They are generally involved in typical transactions such as cashing checks, providing withdrawals, making deposits and accepting loan payments. A bank teller in India on an average earns Rs 206,789 per year.

Customer Care Representative

Anything you need to know about your bank account, available balance, any transaction, the customer care executives are the concerned persons to help you. Every bank sets up its customer care department to deal with such queries raised by the customers. These professionals on an average earn Rs 2,00,000 per year.

Bank Marketing Executive

A marketing executive looks after promoting the bank's existing products and services. He markets the services in the most efficient manner. The person working as a marketing executive works in the team to put a better picture of the bank forward. They may also have to go for market visits and other related tasks.

Loan Officer

A loan officer looks after the processing of loan. From checking the eligibility of an individual for a loan to verifying the required documents, all the responsibilities lie with him. He also checks the qualification of the customers to obtain loans. He is aware of the rules and regulations set by the bank to be eligible for a loan. These professionals can earn Rs 286,811 per year, as per a global research firm.

Financial Analyst

These professionals are involved in assisting clients in their investment decisions. They advise them about the suitable investment plans analysing the funds available with them. The average remuneration paid to these professionals is more than Rs 3,00,000 per year.

Relationship Manager

A relationship manager looks after maintaining the relationships with partner firms and customers. They are involved in customer and business relationship management. Their operations help adding to the business and keeping the customers satisfied. These professionals are offered an average annual remuneration of Rs 362,089 per year.

Qualify for jobs in banks

Know about the educational qualifications to qualify for bank jobs
Know about the educational qualifications to qualify for bank jobs

Educational Qualifications to Get Started

It is generally said that a bank job demands professionals hailing from commerce background. This is true, but not entirely. What educational qualification can land you into a job entirely depends on the nature of job. For instance, to be a bank teller, financial analyst, and loan officer, a degree in commerce would be desired, but to apply for sales or marketing related positions, this may not be a criteria. Further, for higher positions such as financial managers, relationship managers, and other such positions, the banks generally prefer to hire MBA graduates. If we consider the position of a branch manager, generally the experienced professionals working within the bank are promoted to this position. Besides, for most of the positions, a degree in commerce, or any related field can land you into a bank job. However, your selection for any specific position may depend on your skills and knowledge of domain and market trends too.

Would you prefer a bank job over any other high paying career?

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Hiring expected to surge in banking sector

As per a report, banking is expected to witness a huge surge in the hiring in the span of next 5-10 years. With the new government coming up with better growth plans in terms of financial services, banking is seen as a growth element for the country. Besides, the issuance of new bank licenses to be made is another factor that makes supports the anticipation of 20 lakh new jobs to be created in the country. Besides, Randstad India has also reported that the banking industry is expected to create 7-10 lakh new jobs in the coming decade. The company also reported that this industry will be among the top job creators in the country. Besides, more jobs are expected to be created by the public sector banks as half of the workforce employed by them is expected to retire in next few years, as a result of which, there would be demand for more fresh talent. All these factors bring a better picture of the job market for those seeking banking jobs.

Find your way ahead in banking


Banks in India

Nationalised Banks
Private Banks
Foreign Banks
Indian Overseas Bank
JPMorgan Chase Bank
Bank of India
Axis Bank
BNP Paribas
UCO Bank

Skills for bank jobs

Skills that can help you fit in a bank job
Skills that can help you fit in a bank job

Some facts about banking in India

  • Banking is expected to be among top job creators in India in 2014.
  • As per Randstad India, Banking is expected to create 7-10 lakh new jobs in the next few years.
  • India is expected to witness the formation of some new banks as the new licenses are being issued in the country.
  • India has more than 20 private banks and over 30 foreign banks.

All that would help you fit in the bank jobs

As a banker, you would be regularly desired to deal with customers and many associates. These would be the people you would be serving or dealing with on daily basis. Thus, it becomes essential to manage your relationships with them. For this, the people skills and fluent written and verbal communication are seen as the keys. Besides, the work pressure on a day may be less, while on the other day may be extremely high. Thus, one needs to be prepared for the worst. Here, the organizational skills are of essence. Besides, be careful while dispensing any information about any process and ensure to re-check. While you serve as a banker, you have to be aware of the rules and regulations being followed by the bank. Another crucial factor to be considered by a bank professional is to be aware of the bank's products & services.


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