Why Banking Sector?
The common question that arises is "Why do you want to join the banking sector?". Banking is a profession that offers a huge variety of opportunities as well as the possibility of rapid career progression, one can reach from the Probationary Officer level to a General Manager level, with good pay, and extra advantages, which we refer to as "Perks". We are listing the 10 main reasons to choose the banking sector as a career choice.
10 Reasons to Choose Bank as a Career Option
The nation's economy is expanding quickly in this fiercely competitive era. The growth of the banking and financial industries is worrying. Banks and other financial institutions provide thousands of bank job openings each year. Every year, the banking sector receives countless applications for bank jobs.
The best reason to work in any sector is the pay. It is true that the banking sector pays its employees well. Additionally, banks provide their staff with advantages like a minimum rate of interest on loans, medical coverage, pension benefits, and more.
Banking Industry pays well. The salary provided in a bank job is high as compared to other entry-level jobs in India. In a public sector bank, the salary of a probationary officer ranges from around 5 lacs per annum in a public sector bank.
For an SBI PO, it is slightly higher. It is expected that the starting salary of officers in public sector banks will increase to almost 5 Lac per annum soon. So if you are a fresher, starting your career as a Bank employee is great. Know the Exam-wise salaries Here.
|SBI Clerk Salary||SBI PO Salary|
|IBPS Clerk Salary||IBPS PO Salary|
|IBPS RRB PO/Clerk Salary||RBI Assistant Salary|
|IDBI Executive Salary||IDBI Assistant Manager Salary|
|SBI Apprentice||Bank Exam|
Growth Opportunities and no promotion limits
The sky is the limit when you get an entry into the Banking Sector. Growth Opportunities in the banking sector are immense. Candidates joining as probationary officers (PO) or as clerks may need to face rural areas in the beginning, but by the fourth year, a second promotion can be expected and they may even get promoted to the General Manager position in their 15th year.
Arundhati Bhattacharya and many more eminent personalities are great examples who started their career in the bank as a Probationary Officer and made it to the chairman position. Apart from this, banking does your overall development and provides you with all the required skills for a job. So, later you can opt for higher-paying jobs or can start your own business.
Job Security is one of the major reasons to opt for the Banking Industry. In the case of the public sector, the matter of job security has been always higher. This is also the case for individuals with poor performance. Your future and job are secure with decent pay.
There are very few chances to get fired from Bank until and unless you do something unethical (like taking bribes) or are completely not suitable for the bank job. No job security is one of the major reasons for disliking Private Jobs as the private sector is very competitive.
It's For Everyone
|SBI Clerk Eligibility||SBI PO Eligibility Criteria|
|IBPS Clerk Eligibility||IBPS PO Eligibility|
|IBPS RRB PO/Clerk Eligibility||RBI Assistant Eligibility|
|IDBI Executive Eligibility||IDBI Assistant Manager Eligibility|
|SBI Apprentice Eligibility||Check Others|
No Recession Effect
Banks are the backbone of a country's economy. Especially, when it comes to developing a country like India, the financial condition relies on Banks completely. Some years back, during the global recession, our country was affected the least because of the soundness of the Indian Banking system.
All in all, the banking sector is generally not affected by the recession. Finding stable and long-term employment is essential for professionals in the current uncertain global market. The banking industry, which is constantly expanding, provides job security and sustainable career advancement.
Overall Skill Development
Banks offer a fair number of holidays in comparison to Private Organizations. Banks have a fair number of holidays than you can get while working in a Private Organization. Banks do care about the festivals and appropriate leaves are given for any festival. In this way, you will get the chance to celebrate every festival with your family and will be able to maintain a good professional and personal work-life balance.
Lots of other benefits and Incentives - Apart from offering a good pay grade, jobs in the banking sector include many incentives, benefits, allowances, and concessions. Bank's employees are eligible for excellent benefits, incentives, and special allowances, including medical insurance and disability insurance, sick leave and vacation, concessions, paid vacations, paid leave, retirement benefits along basic salary.
Reimbursement for newspapers and transportation is given to the bank employees. Maternity leave and Paternity leaves are also provided. In this way, salary and other benefits in a bank are better than in Private organizations.
A Lot Of People Want It
There is a long queue of people who want to get your seat if you are working in a bank. It is one of the most desired jobs which makes it. Banks will always need to hire and train people. After getting an entry into a bank, further success will rely on aptitude skills, the ability to cope with challenges, and teamwork skills.
|SBI PO||SBI Clerk|
|IBPS PO||IBPS Clerk|
|RBI Assistant||SBI Apprentice|
|IDBI Executive||IDBI Assistant Manager|
|IBPS RRB PO/Clerk||RBI Grade B|
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