The Best Ten Reasons to Choose Banking Sector as a Career

By Apoorva Gupta|Updated : August 20th, 2021

The banking sector in India is growing tremendously. The scope of the banking sector has been widened drastically and now it is not just limited to the basic role of lending and depositing the money. There has been a development of adequate professional management and modern managerial techniques and practices in banking.

Banking operations now also serve a larger social purpose. Due to many more advantages, the banking sector allures the young graduates of our country the most. You're interested in a career in banking, but do you know the benefits of working in this dynamic industry?

Table of Content
Banking Sector in India is growing tremendously. The scope of the banking sector has been widened drastically and now it is not just limited to the basic role of lending and depositing the money. There has been a development of adequate professional management and modern managerial techniques and practices in banking.

Banking operations now also serve a larger social purpose. Due to many more advantages, banking sector allures the young graduates of our country the most. You're interested in a career in banking, but do you know the benefits of working in this dynamic industry?

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 Probationary Officer level to a General Manager level, 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

Decent Salary

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 at around 4-4.5 lacs per annum in a public sector bank. For an SBI Bank 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 SalarySBI PO Salary
IBPS Clerk SalaryIBPS PO Salary
IBPS RRB PO/Clerk SalaryRBI Assistant Salary
IDBI Executive SalaryIDBI Assistant Manager Salary
SBI ApprenticeCheck Others

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 all the required skills for a job. So, later you can opt for higher-paying jobs or can start your own business.

Job Security

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 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

There is a career in banking for everyone. The interested candidates must be a graduate. Be it any stream, anyone can apply for banking jobs. The banking sector offers a career for graduates from all fields such as Arts, Science, Finance, Marketing, Communications, Economics, Mathematics, Law, Engineering, IT, Psychology, and others. In this way, you will get a chance to meet people from different specializations. There is no special skill required for getting entry into this sector. Banks hire the candidates and provide the required training.
 
So if you are someone who is willing to learn, accept new challenges, and seeks growth, then Banking Sector is waiting for you. Check the complete eligibility criteria:
 

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.

Overall Skill Development

You will get lots of opportunities to enhance your knowledge as well as skills at a bank. Most of the banks in India offer on-the-job training and encourage you to further your education through a variety of courses, seminars and training programs. Banks have training departments to train students and to help them maximize and utilize their skills through educational programs, technical training. Team building activities and social events are also organized, 
While working in a bank, you develop a set of skills that are standard across all careers. For e.g., interpersonal skills, customer relations, financial management, strategic thinking, and planning, etc. Apart from it,  the challenging nature of work, which is not just lending and depositing, bank jobs will develop your leadership and decision-making skills. There are not many career options that will provide you all these skills. So an overall development through various programs, challenges, and work nature are one of the major reasons to go for the Banking sector.

Job Satisfaction

Job satisfaction is a very subjective issue and it differs from person to person. But being an interaction-based job, Banking Sector offers the chance to help people with their financial matters. The banking sector gives you social exposure, which you do not get in IT Sector jobs. Apart from it, the work culture of a Bank is quite good.

Leaves/Holidays

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. Banks' employees are eligible for excellent benefits, incentives, special allowances, including medical insurance and disability insurance, sick leave and vacation, concessions, paid vacations, paid leave, retirement benefits along with basic salary. Reimbursement for newspapers and transportation are 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, ability to cope up with challenges and teamwork skills.

High Regard

You get social prestige if you are a Bank Employee. The job in the banking sector is treated with high regard. The banks listed below have jobs that are deemed elite:
 
Top Bank Exams List
 
 
We hope that this article has given you major insights into the bright side of working in a Banking Sector. No job is pure heaven, the same goes with banking. But you are willing to take up challenges and are growth-oriented, the banking sector can reward you greatly.

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Posted by:

Apoorva GuptaApoorva GuptaMember since May 2019
Computer Science Graduate, IIIT 2016
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vijay chakraborty
Positive raho !!!! Or lage raho padai me !!! Ek na ek din clear ho hi jaega !!
Nikhileshwaran
Maternity leave and Paternity leaves are also provided. In this way, salary and other benefits in a bank are better than Private organizations. Is this sentence suitable for private sector banks also?
...Read More
Akanksha Gupta
I agree with all of the points except job satisfaction. Seriously there is no job satisfaction mainly for engineers which I saw in my office also and i was also not satisfied.
...Read More
Kul Deep

Kul DeepMar 2, 2019

Kya bank so 5 saal baad general banking main shift kar sakta hai
Prabhat Kumar
love you the way you elaborate i am satisfied.
An Unknown Engineer.
Rohit Shukla

Rohit ShuklaAug 20, 2021

Thank You Sir
Rohit Ghosh

Rohit GhoshAug 21, 2021

You are posting an old article . Because " PROBATIONARY OFFICER" ' S. salary is now 7 lac per annum (minimum).

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  • Because of the prospects for advancement, a big number of applicants are choosing banking as a vocation. Good reasons behind chosing banking as a career:

    1. Good Salary
    2. Job Stability
    3. Anyone can join
    4. Fixed Timings
    1. Banking is one of India's fastest-growing industries, with more consistent and high growth.
    2. As individuals go from Trainee Officer to General Manager, the banking sector offers enormous prospects for advancement.
    3. Bank workers are respected in society because they connect directly with clients and participate in many social projects that benefit society.
    4. Investing Because everyone wants to be financially secure, a job carries with it extraordinary job security.
    5. It's a white-collar career that offers a tough work environment.
    6. Banks are now utilising the most advanced technology available for their operations; staff has access to the most up-to-date banking software, which adds value to their resumes and improves the learning experience.
  • A banker must possess judgement skills, a service orientation, and stress management abilities. Organizational skills, professional ethics, and time management are just a few of the factors to consider when responding to this topic.

  • Anyone, regardless of ethnicity, gender, country origin, age, or physical abilities, can pursue a job in banking. Banks employ and train employees who are eager to learn and work. Your ability and attitude are critical to your success. Banks will be interested in you if you are an individual seeking growth and challenges and are eager to take on responsibilities.

PO, Clerk, SO, Insurance

BankingIBPS ClerkNABARDSBI PONainital BankNIACL AOIDBIApprenticeHPSCBSBI ClerkIBPSLICESICJAIIBBNPBSCBPSCBRBIOtherQuick LinkMock Test
tags :PO, Clerk, SO, InsuranceGeneralSBI Clerk OverviewSBI Clerk Admit CardSBI Clerk Exam DateSBI Clerk Question PapersSBI Clerk Cut Off

PO, Clerk, SO, Insurance

BankingIBPS ClerkNABARDSBI PONainital BankNIACL AOIDBIApprenticeHPSCBSBI ClerkIBPSLICESICJAIIBBNPBSCBPSCBRBIOtherQuick LinkMock Test
tags :PO, Clerk, SO, InsuranceGeneralSBI Clerk OverviewSBI Clerk Admit CardSBI Clerk Exam DateSBI Clerk Question PapersSBI Clerk Cut Off

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