Why A Career in Banking?

by Andrew Atkins

Evolution of the Banking Career

Careers in banking have always been a craze in India. During the British time most of the native Indians saw the best opportunities, in either banks or public services. It became a standard norm to work in a good bank. However, now times have changed and international banks have set foot on Indian soils. Banks have now penetrated further into the rural areas making a banking career a great option for all seeking some stability in jobs. Of late, since the financial crisis, banking saw a tumultuous change in its stability factors with more and more banks indulging in the practice of layoffs to manage their costs. However, some banks did not commit payoffs; they just froze their fresh recruitments. HDFC was one of them. Now, the vacancies have opened to all again that can be viewed on HDFC Bank careers. Banking still remains to be one of the best paying industries and of course the additional benefits you get by associating yourself with a bank are immensely valuable.

Opportunities

As far as scope and opportunities to choose a particular job profile go, no other industry offers as many versatile functions as a bank. In India, working with a bank from the start of your career means a steady climb upwards, especially if you are in the sales and marketing division. Banks start with executive grades, moving on to assistant managers and managers with levels even amongst them, progressing to positions like President and Vice-President. Now, with banking taking on functions like internet banking and tele-banking, the employment opportunities have increased manifold.

banking in banking Why A Career in Banking?

Fixed Times and Holidays

The beauty about banking jobs is that they value time. This is because banks operate at certain timings only. This means that, depending upon your chosen profile you ought to complete your work in the given hours. Calendars are marked by bank holidays and thus holidaying is no trouble with a bank job at hand. Some International banks pack off their employees on compulsory holidays for 15 days. Isn’t that awesome?

Super Fat Pay Cheques

Well, this is one of the main reasons why the popularity of banking jobs has never seen a decline. They provide their employees with a hefty take homes and a lot of incentives. Some profiles command incentives of Rs 2 Lacks per month over and above the salary, based on performance and sales. Bank jobs come with their own set of rules while on Indian soil and hence some mandatory benefits like Employee Provident Fund (EPF) exclusive of the monthly net income are given too. Bankers receive fixed promotions most of the times as they have levels within grades as well. The minimum hike of 5%-10% is visible each year at the time of increment and appraisal.

Job Security

Banks have their fixed infrastructure and 99% of the times the infrastructure only sees an increase. The infrastructure requires man power. Hence this means that banks only add more man power than reduce. Hence, it is said that banks offer maximum job security. They may sometimes make do with pay cuts in dear times, but otherwise, your job with the bank is always secure, even if you are an average performer.

Thus, no matter what the global economy says banking jobs will outperform most, at least for developing India.

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