Banking in India is a huge industry that spans millions of banks. India ranks second in the world where the population is considered. Thus, it is very natural that it would also have many banks and banking jobs to cater to the needs of its population.
Description
Positions in the banking industry range from entry-level to top executive positions, all of which are no less achievable by individuals with a strong work ethic and ability to adapt and learn. For example, one might manage the department of payable and receivable accounts at a bank. One may handle the assessment and the documentation of different loans given out by a bank.
Detail-oriented individuals can get a position analyzing the application of loans put forward by customers and will be required to understand prospective links associated with the application; this position ultimately decides if financing will or will not be given.
Individuals with a strong statistical or financial background would be able to prepare quarterly or monthly reports on available bank liquidity and proffer to senior management or the bank’s heads.
In any position, however, individuals need to stay well-versed about the most recent advancements in technology and how their role is to make banking trouble-free for clients and essentially attract more clients.
Educational Qualifications
Individuals who aspire to gain a banking job in well-known banking firms will be required to possess certain educational requirements:
- A Bachelor’s in Commerce is a basic prerequisite for any banking job.
- Master’s in Commerce from any university or college proves to be an additional benefit.
- A Certified Public Accountant (CPA) degree is not obligatory, but it provides a benefit over other applicants.
- A knowledge of banking, auditing, book keeping, analysis and finance and taxation.
- Completion of the CAIIB exam through an institute of banking and finance.
Certifications and Training
Some short-term certification and training courses available in the field of banking jobs are:
- BS (auditing/banking) - forensic accountancy
- BS (government/banking) - non-profit accountancy
- MS (professional banking) - controllership
- MS (professional banking) - taxation
- MBA - banking
- MS (information technology and banking)
Job Opportunities
Banks generate millions of jobs per year. There is both private sector as well as public sector banks. Applicants are eligible to engage in the various focuses of banking jobs in this industry, like institutional banking, retail banking, merchant banking, as well as investment banking.
The salary of banking professional is highly dependent on the banking corporation but oftentimes averages:
- Beginner with an experience of 0 to 1 years
- Professional with an experience of 2 to 3 years
- Professional banking manager
The industry of banking in the nation has seen remarkable growth. The expansion of banks in new provinces all across the country is expected to increase the number of banking jobs.
