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careers in banking after graduation

Careers in Banking after Graduation

Banking – as a Career in India

Banking has always been a lucrative career for young graduates. With the push of financial inclusion, new

banks coming in and the initiatives taken by the Indian Government to prioritise JAM (Jandhan, Aadhar,

Mobile transactions), the Indian economy is exponentially increasing the opportunities, especially for

Banking aspirants. RBI has issued 21 new banking licences out of which 11 new banks are already

operational. They include two full-service banks (IDFC and Bandhan), seven Small Finance Banks and two

Payment Banks.

Why choose a Banking Sector Job?

The Banking sector offers the best opportunities for graduates, compared to other industries. Even when the

overall job creation was low, the Banking sector contributed the maximum towards employment in FY2017

roughly around 21 you can read more details here

– roughly around 21%. You can read more details here. In addition to this, here are some more advantages

of a career in the banking industry –

Comparatively high job security, even in the private sector

Competitive compensation

Good social standing

High growth sector

How to get a job in the Banking Sector?

For a graduate, there are various ways to start a career in Banking. The most popular & aspirational route, is

to join a Public Sector Bank (PSB), as a Probationary Officer (PO).

Before we look at the ‘How’, let us quickly see What a Probationary Officer does!

A Probationary Officer designated as an Assistant Manager in a Public Sector bank. After spending the

initial 12-24 months in probation, he/she gets confirmed as Assistant Manager.

The responsibilities of a Bank PO Interview, would be –

Bringing in Business: As a PO, you’re expected to bring in revenues by promoting the products of the bank

and its partners. These products include fixed deposits, mutual funds, insurance policies, credit cards etc.,

Reporting: A major part of the POs responsibility is generating End of Day reports (deposits, withdrawals

etc.,), managing the day’s closings to avoid any mismatch.

Customer Service:Involves servicing branch customers in account opening, deposits, receipts, ATM

cards, chequebooks, loans etc., Note that this is not a direct responsibility of a PO, as these services are

predominantly handled by the clerical staff.

Other major responsibilities include Cash Handling, Payment clearance, Managing internal

communication, Supervision of clerical work, Loan processing, etc.

Coming to the ‘How’–


All Public Sector Banks (PSBs) except SBI, hire Probationary Officers (POs) through the IBPS (Institute

of Banking Personnel Selection) exam. IBPS conducts the PO exams once in a year. Aspirants will have to

clear Prelims, Mains and IBPS Interview, to get selected. The procedure is common across all the Public

Sector Banks, except SBI. At the end of the process, you will be allocated to the bank you have selected,

based on your preference and ranking.

Note that, the Ibps PO exam is fiercely competitive! Here are some statistics –

in 2016 for 8862 vacancies a mammoth 30 lakh

In 2016, for 8862 vacancies, a mammoth 30 lakh candidates appeared for the prelims! Out of which, 1.8

lakh candidates were selected for Mains and just 27,000 – about 3:1 – made it to the interviews.

Click here to know more about the IBPS Bank PO exam, 2018.

The SBI PO Exam:

Did you know, State Bank of India (SBI) was once the Central Bank? That is, it performed the function that

RBI, the banking regulator, performs today! SBI is the largest bank in India with more than 2 Lakh

employees. It separately conducts its own PO exam to recruit Probationary Officers. Every PO aspirant

aspires to join State Bank of India.

Similar to IBPS, 25 lakh+ candidates applied for a mere 2403 vacancies in SBI PO 2017. 6376 candidates

made it to the Personal Interview round.

Click here to know more about the SBI PO exam.

Given the competitive nature of the exams, you must prepare wisely – for all the stages, not just the written


Reserve Bank of India (RBI) – Grade ‘B’ Officer:

RBI’s grade B Officer is one of the most prestigious banking jobs that graduates aspire to get into. Thanks to

the attractive take-home salaries of approximately INR 65,000 that grade B officers start their career

with. Alsoit’s more cool to work for the Banker of Banks, rather than a Bank, right?

Having said that, there were only 161 vacancies announced in 2017 and 2 lakh+ applicants! Which means

tougher competition to get in!.

Private Sector Banks:

If the chances of getting into a public sector bank or RBI seem farfetched to you, an equal or

better career is up for grabs in the Private banking sector.

Why the Private Sector?

let s get something straight public sector bank

Let’s get something straight! Public sector bank jobs are no more your relaxing, settled for life peaceful

jobs! Bad loans piled up over years at the PSBs, has led to a major shake-up. The government is getting

Public sector banks to follow their private counterparts in terms of efficiency, HR policies, Risk

Management etc., Targets and sales pressure will also become a reality here, as in the Private sector; but you

may not see the same level of growth, that you can in the Private sector.

Read this comprehensive article to know what the private sector is and the various opportunities here.

[Includes the list of new banks now operational]

Unlike PSBs and RBI grade ‘B’officer exams, there’s no ‘One Exam Cracks All’ formula for the private

banks. You need to keep a track of the openings in each bank and apply for it, basis your competencies and

eligibility. Here’s a list of some popular private banks and their career pages.

HDFC Bank –

ICICI Bank –

Axis Bank –

IDFC Bank –

Yes Bank –

Bandhan Bank –

IndusInd Bank –

As the career page will have a huge bunch of CVs, you must write a crisp, CUSTOMISED cover note for

each bank; your CV must have a standout factor, to get it shortlisted. A great project, internship or a

banking-specific certification, are a must-have.