Raguragavan Sreetharan | Why Do People Think Bank Jobs Are a Good Idea?

Ragavan Sreetharan | For graduates obtaining a degree is just the beginning. The real life challenge starts when they start hunting for a job. Of course, everyone wants to have a stable and performance-oriented career in order to earn a good living. As a newcomer, you might face difficulty in picking up the right career option or you might get stuck while deciding which industry sector has the highest need for new professionals. Have you ever thought of a career in the banking industry? A career in banking sector is indeed a lucrative career option. The banking industry is ambidextrous, which means it offers a range of positions catering to a broad spectrum of skills and talents.

The best part about this sector is that it has multiple sub-industries enveloping distinguished opportunities. Banking jobs are an excellent career option for many number of reasons. Job-security, career advancement opportunities, fancy salary packages, and most importantly, job satisfaction. India has a huge banking industry which is constantly growing and flourishing in the market. There are nearly 8.50 lakh employees working in public sector banks, private sector banks, and foreign banks.

Wage revision for the bank employees

Recently, 15 percent hike in the salaries of public sector bank employees has been announced which is an outcome of negotiation between employee unions and the Indian Banks Association (IBA). The new pay scales will be based on the accumulated India Consumer Price Index. The basic pay of the professionals in this industry would be up by over 60 percent. Moreover, banks will have second and fourth Saturdays fixed off. The news of salary increment is welcomed with open arms by all the employees working in this industry. With this move, more and more people are seriously taking interest in this sector and are planning a career in it.

Job security

Job security is yet another big reason for the people seeking employment in this sector. The hovering scare of layoffs and layouts in an establishment hampers the performance of the employees and even makes them stressed out. Public sector banks are hence an alluring job option since they offer high job security.

Bank jobs are growth oriented

Why more and more people are drifting towards this profession? Well, if you get all good things in one package then why not reap the benefits. This is exactly the case with these jobs. Anyone looking a career in it has to go through the probationary officer route to climb up in the ranks. After getting placed as PO in the bank, one has to undergo rigorous training that lasts for a period of 2 years. After successful completion of the training, one gets promotion based upon the performance. The basic concept here is to show that bank jobs offer good career progression opportunities, thus, aiding individuals to carve a niche in this growing industry.

What's the secret behind getting a good bank job?

The success mantra in grabbing a lucrative job offer is simple-research, locate and land the job that has the highest level of compatibility with your skills and interest. Those looking for bank jobs must have realized that there are thousands of positions available in this field. You just have to arm yourself with the requisite job skills and traits of the profession and then no one can stop you to raise high.

Raguragavan Sreetharan | Sample this; the number of applicants for probationary officers with the State Bank of India has grown manifolds from the last year. The soaring figures will leave you surprised. While there were 5.1 lakh candidates for the 1000 vacancies, this year there are 1.7 million candidates for the 1500 vacancies. Well, the numbers are shouting aloud that the competition is getting harder; hence, you must put your best foot forward in order to build a healthy professional life.