Banking jobs: Focused preparation must to crack stiff competition
With lakhs of candidates applying for Special Officer (SO), Probationary Officer (PO) and clerical cadres of various public sector banks every year, competition in this space is getting extremely stiff. Experts suggest that availability of wide range of job profiles, job security in PSU banks and nature of bank jobs continue to attract huge number of aspirants every year, making the competition tougher.
In this interview with Careers360, Hanumant Sabherwal, director at Smart Prep coaching, discusses different aspects of banking jobs. He also shares here various criteria to evaluate a candidate’s suitability for banking industry. He offers tips to aspirants on how to become mentally prepared for the entry-level challenges in the banking sector jobs and how to crack banking job exam.
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“Today, amid stiff competition in the job world, banking comes as a very good career option, which not only gives you job security, especially in PSU banks, but also ensures job enrichment and good growth opportunities.”
Careers360: What is the scope of seeking a career in Banking sector in the current job scenario? How is the sector as compared to other sectors in terms of job opportunity?
Hanumant Sabherwal: Banking as a career has always been seen with a lot of respect. Today, amid stiff competition in the job world, banking comes as a very good career option, which not only gives you job security, especially in PSU banks, but also ensures job enrichment and good growth opportunities.
With a paradigm shift in the fashion banking is done these days, the sector holds good opportunities for people from all type of streams and it is no more restricted to people with knowledge of accounts and finance. As compared to other sectors, banking gives a steady, secure and growth oriented career path. Again, when it comes to variety in the job profile, banking has a lot to offer right from investment banking to treasury, retail, loans, foreign exchange and many more options.
Careers360: How should candidates evaluate their suitability for a job in Banking sector?
Hanumant Sabherwal: Most of the bank jobs, announced by Institute of Banking Personnel Selection (IBPS) and State Bank of India (SBI), are office jobs and involve good level of public dealing. Anyone who is good at interpersonal skills and has good problem-solving ability should think of such jobs. To work in this field, a person not only needs to have an interest in Accounts and Finance but also they should have excellent communication skill as they have to deal directly with public.
Careers360: What is the level of competition in the sector for different levels of available job opportunities?
Hanumant Sabherwal: The level of competition in PCU bank jobs is very high and supply of candidates is quite higher than the demand in the sector. At any level, whether Probationary Officer or Clerk, with lakhs of aspirants applying for few hundred/thousand jobs it becomes extremely tough for aspirants to crack exams at one go. Many of the candidates try on an average two to three times to get the coveted job.
Careers360: How should a candidate mentally prepare himself for a career in banking sector?
Hanumant Sabherwal: With opening up of the economy, there has been lot of competition in all the sectors such as telecom, insurance, automobile and also in banking. For a great career in banking today what is important is that any candidate who wants to be a part of this sector should possess qualities like good communication skills, interpersonal skills, reasonable problem-solving ability and familiarity with numbers.
Careers360: What are the challenges that a student might face while entering this competitive space of Banking job seekers?
Hanumant Sabherwal: Right focus is very important in order to qualify a bank job exam in this tough competition. Once a candidate has made up his/her mind to be a part of this sector, they should start immediately with setting up their goals. There are a number of entry-level challenges which have to be dealt with. Candidates have to find out answers of many certain questions before starting preparation for a bank job. They should try to know what the recruitment process is. When to apply? How to apply? What is the exam pattern? What was the cut-off last time? Which are their weak areas and where to focus more? In the nutshell, there is a need to have a proper strategy around the preparation for cracking the exam.
Careers360: What is your suggestions and advice to those candidates who are looking to prepare for banking jobs and build a career in banking sector?
Hanumant Sabherwal: These banking job exams are speed and accuracy based, so my suggestion to students is that they should first clear there concepts and then practice questions from previous year papers with a focus on their speed and accuracy. This practice will definitely help them get perfection in solving papers and finally cracking a competitive exam in the banking sector.
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