India’s banking industry is a large industry spanning hundreds of banks. Since India is the second most populous country in the world there are hundreds of banks in India which cater to the large population of the country. India’s banking industry is also highly regulated like the American banking system.

The hundreds of banks in the country give rise to thousands of banking jobs every year. There are public sector banks as well as private sector banks. Within the banking industry you are eligible to take up several banking job profiles like retail banking, institutional banking, investment banking as well as merchant banking.

Banking Job Description

The Banking job description which is generally assigned to people working in the Banking industry is given below.

• Manage the accounts payable and the accounts receivable department of the bank.
• Handle documentation and assessment of various loans that the bank may be giving out.
• To analyse the loan application which has been presented by the client and to understand the potential risks which come with it and then to take a call as to whether the loan should be issued or not.
• To contact the senior management team of the bank in case a large loan has to be sanctioned to a client of the bank.
• Prepare monthly or quarterly reports on the liquidity available in the bank and present it to the senior management team or other financial heads of the bank.
• To remain informed about the latest technological advancements happening and to understand how they could make banking easier for the customers or how they could attract more customers to open their accounts.

Education Requirements for Banking Jobs

In order to get a Banking job in a reputed Banking firm there are a certain requirements which need to be fulfilled by the candidate. They are as follows:

• B.Com (Bachelor’s degree in Commerce): It is one of the most basic requirements of any Banking firm.
• M.Com (Master’s degree in Commerce): From any reputed and recognized college or university would be an added benefit.
• CPA  (Certified Public Accountant) : A CPA degree is optional but it will surely give you an edge over the other Banking job seekers.

• Knowledge of book keeping, auditing, Banking, finance and analysis, taxation can prove to be of great help while looking for getting a Banking job in a reputed firm.
• CAIIB: An exam conducted by the Institute of finance and banking in the country.

Skills needed for getting an Banking job

In order to get a Banking job in a reputed company, any Banking job seeker must possess the following set of skills:

• Public Speaking: A good Banking professional should have strong communication as well as public speaking skills.
• Mathematical aptitude: An Banking job seeker should also have an aptitude in Mathematics and should be able to work with figures quickly and accurately.
• Computer knowledge: Basic knowledge of computers including Microsoft Word, WordPerfect, Outlook, Excel, PowerPoint, Tally etc would prove to be an asset.
• Risk identification skills: He or she should have extremely good analytical as well as Risk identification skills.
• Knowledge of Finance: Good knowledge of Finance and the current market scenario is also a must to get a good Banking job.

Training and Certification

There are a large number of training as well as the certification courses that are offered in Banking. These short term courses are offered by a large number of MBA colleges as well as other small institutes.

A few of them are:

• B.S. in Banking/Auditing-Forensic Accountancy
• B.S. in Banking/Government-Nonprofit Accountancy
• MS in Professional Banking: Controllership
• MS in Professional Banking: Taxation
• MBA – Banking
• Master of Science in Banking and Information Technology

Banking job salary

The salary received by a Banking professional is pretty good though it may vary from one organisation to another organisation. As and when your experience increases in the organisation or in the Banking industry, your salary will also rise.

Beginner (0-1 years of experience)

Monthly: Rs.12,000 to Rs.18,000

Annual: Rs.1.44 lakhs to Rs.2.16 lakhs

Professional ( 2-3 years of experience) :

Monthly: Rs. 18,000 to Rs. 25,000

Annual: Rs.2.16 lakhs to Rs. 3.00 lakhs

Banking Manager professional ( 5 and above  years of experience)

Monthly: Rs. 25,000 to Rs. 50,000

Annual: Rs.3.00 lakhs to Rs. 6.00 lakhs

Cities to look for Banking jobs

Banking jobs are easily available all across the country though most of the Banking companies in India are locates in the following cities where it will be easier to find a Banking job- Mumbai, Delhi, Chennai, Pune, Hyderabad, Gurgaon, Bangalore, Chandigarh, Kolkatta and Ahmedabad.

Banking Job Outlook

The banking industry in the country has witnessed phenomenal growth in the past few years. Thus with the large population the country has the banks are expected to increase their operations and expand in the rural areas as well.

The expansion of the banks into new territories all over the country will bring about several banking jobs for professionals associated with this industry. With the Indian economy having a fairytale ride, going forward we can expect a large number of banking jobs being offered to professionals.

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