Banking sector jobs: Expert’s interview on target preparation, reality check
A job in Banking sector is full of challenges and opportunities.While the emergingtrends of online shopping and e-commerce have opened more job opportunities in the sector, the sector is in an expansion mode. The government has further aided to the expansion with its financial inclusion policies.
In this interview with Careers360, Ms. Neetu Singh, founder and director of Paramount Coaching Centre in Delhi, shares more insights into Banking jobs opportunities, its challenges and also other dimensions like suitability of a candidate for such jobs. She also talks on entry-level challenges, completion level and mental toughness that one needs to have before joining the challenging jobs in Banking industry.
Premium Help-Talk to our expert counsellors to explore the best suitable job opportunities through competitive exams on 011-40360360 (Paid Service)
“The focus should be on target preparation. Whether you start studying anything and everything, you may get confused and distracted from your goal. Reality check with someone who has recently been recruited in a banking job is essential.”
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?
Ms. Neetu Singh: Scope of seeking a career in Banking sector is very promising because of a number of reasons. Owing to the online exam format, banking sector offers shortest recruitment span between exam time and job joining date. The recent trends of online shopping and e-commerce have caused more and more people opening up to banking features and facilities resulting into expansion of banks and in turn banking jobs. A recent RBI guideline about increasing banking penetration in India promises attractive career opportunities in coming time. Bank job offers quicker promotions with the scope of rising up to even General Manager’s level in a bank branch. It is an ‘Inflation or recession proof job’, thus no hire and fire policy is followed in the industry. Bank employees are offered loans at very minimal rate of interest. Numerous banking job opportunities are available every year. About 60,000 openings are announced by IBPS alone every year.
The most popular opportunities in this sector are RBI Grade B Officer and Assistant level jobs as well as Specialist Officer (SO), Probationary Officer (PO) and Clerk job openings announced by Institute of Banking Personnel Selection (IBPS), State Bank of India (SBI) and Regional Rural Banks (RRBs).
Careers360: How should candidates evaluate their suitability for a job in Banking sector?
Ms. Neetu Singh: Candidate must be good at English, Mathematics and Reasoning as the maximum numbers of questions are from these sections. Apart from this they must be well aware of the latest happenings in the field of Politics, Economics, Banking and Sports. An emphasis is laid on Computer literacy and knowledge as well. Besides these, a candidate should also hold interest in financial domain and economics. Specialized or Professional degree aspirants hold chance for SO jobs in their field of expertise. The candidates need not have formal education in commerce or finance sector. For instance, Current RBI Governor is an Engineer by education but handling crucial economic portfolio. The aspirant should be open to dealing with new people (customers) from vivid backgrounds ranging from students to senior citizens, from a daily wage earner to a millionaire. They should be amicable and open to exploring different cultures due to frequent Pan-India transfers and promotions.
Careers360: What is the level of competition in the sector for different levels of available job opportunities?
Ms. Neetu Singh: The banking job recruitment witnesses intense competition for the various job profiles. Another noteworthy point for bank jobs is that there are same eligibility criteria for different levels of bank job hierarchy. The minimum essential qualification (i.e. graduation) remains same for RBI Officer, PO, RBI Assistant as well as Clerk. Thus, the competition level is quite high even for subordinate jobs.
Careers360: How should a candidate mentally prepare himself for a career in banking sector?
Ms. Neetu Singh: Above all, a candidate must be zealous as it will provide him good career in long term. But at the same time they must be open to customer dealing and criticism as the challenges in bank job profile are high. The point that distinguishes bank job from any other Government job is the high level of accountability and responsibility involved.
Careers360: What are the challenges that a student might face while entering this competitive space of Banking job seekers?
Ms. Neetu Singh: There is a cut throat competition due to the attached job perks. Besides, many a candidates may face problem due to lack of fluency in online test format. Additionally, computer awareness and marketing knowledge are compulsory testing part of the recruitment process; hence the candidate should be well-versed with computers, basics of marketing and technology to keep up with the competition.
A reality check in terms of time management for online format is equally important. In past, we have seen even the best of talent getting flunked due to inability to adapt with the online test format.
The utmost important point which most candidates are usually unaware of is about the subject wise and over-all cutoff. Unlike SSC and other Government exams, the recruitment in bank exams is largely governed by the individual subject cutoff. So, a candidate needs to excel in each and every section of a bank exam. Equal attention and weightage should be given to each section and no section should be ignored in any circumstances, lest the candidate is bound to fail. Also, along with clearing the individual subject cut-off, a candidate needs to clear an overall cutoff to stay in the merit race.
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?
Ms. Neetu Singh: The focus should be on target preparation. Whether you start studying anything and everything, you may get confused and distracted from your goal. Reality check with someone who has recently been recruited in a banking job is essential. Take utmost care to prepare so as to clear the individual section cut off and cumulative cut off.
Attempt online mock tests and review your scores to get accustomed to format as well as to avoid a last minute surprise or goof ups.
Stay tuned to competition.careers360.com for more news and articles on Banking jobs