Entering the banking and finance sector: How you should proceed?

If you belong to the field of banking and finance, you should know that one simply doesn’t enter this sector unless they have a niche for it. The candidates who are trying to understand the economic and financial sector with proper interest are perfect for this career area. With the number of banks coming up, the need for bankers and financial managers has increased as well. This career provides you with choices that range from banks to institutions that deal with financial work. But you surely need a way to proceed to reach success properly:

Eligibility Criteria

First, you need to take admission into a proper banking bachelors program in order to get certified. One needs to have a good 80% in order to get admission into a proper recognised college. One needs to appear for the Common Aptitude Test (CAT) in order to get admission in a b-school which is for post graduation.

Appropriate Colleges

• Symbiosis Institute of Business Management, Lavale Village, Pune
• AIMS Bangalore - Aims Institutes Acharya Institute of Management Studies, Peenya, Bangalore
• ITM FM - ITM Financial Markets Institute, Navi Mumbai
• Suresh Gyan Vihar University Distance Education, Chennai

Career Prospects

The career prospects for banking graduates or post graduates is seemingly well at this moment in our country. If you have a certified degree in banking, then you can get direct jobs in private banks however for public banks, one must pass certain exams. The technical and communication skills are two of the most important skills one must possess when working for this segment of the industry. One can also opt for working in insurance sectors, loan sectors and other back office jobs when they want to enter the banking or financial sector. Even a beginner can get a job in a private bank’s sales or back office department for a start.

Banks like HDFC, HSBC, ICICI, Kotak Mahindra, Standard Chartered etc take in students from banking institutions directly on pay rolls upon passing of interviews. The student must have appropriate marks as well.

Specialisation areas

Some of the major working and specialisation sectors for pupil willing to work in the banking and financial sector would be Environment and Management of Financial Services, Micro Economics, Effective Banking Communication, Quantitative Techniques in Banking, Organisational behaviour in banking organisations, Taxation of Financial Services, Laws relating to Banking & Insurance, Cost Accounting of B&I Services, Equity Debt, International Business Management in Banking Organisations and Strategic Planning in Banking organisations. Besides these sectors one can specialise in the various others as well.

Pay Packet

The pay packet for banking or financial working personnel is well and good. If you don’t have a degree and thus work for a bank’s back office or sales department, you can still earn Rs. 8, 000 -20, 000 per month. For public sector banks, the salaries vary depending on the group you are assigned and same for the private banks. 

This shows you the scenario of the banking sector of the country and gives you an idea of how it can be once you decide to join in.