How to secure a job in bank? Every career guidance expert would wholeheartedly admit that this is one of the most recurring questions they face from fresh graduates these days. Take a glance at the list of competitive exam coaching centres in your town. You’ll notice that most of these centres offer different flexible and exciting packages for cracking IBPS examinations. For many, banking is a career that can be achieved if and only if you get through an exam, whatever your academic background is. The glamour of a stable profession with banking institutions attract aspirants in masses, and they follow the bandwagon by appearing for exams one after the other till they see any luck.
Well, do you become employable in a bank immediately after clearing a test? Will you learn any of the skillsets required for a banker by solving question papers? And most importantly, are these exams the only way to get a banking job? Here is the hard nut to crack – banking, as a career, does not revolve around competitive exams. You can kick-start your career by being more than a clerk or an assistant. Banking is a vast field of opportunities, and to conquer that dream there are many other ways. Let us see what they are.
What are Banking Courses?
Did you know that there are courses specifically designed for moulding a future banker? According to popular understanding, a person with a bachelor’s degree in any discipline can become a bank employee after clearing IBPS examination. This is true, indeed. These exams can get you placed as a clerk, assistant or probationary officer in nationalised banks. Such jobs are highly secure, well-paid and therefore, most desired. But, banking sector has much more to offer. There are other financial institutions, in India and abroad, which work on par with the corporate system. These banking institutions recruit experts as financial analysts, investment bankers, tax specialists, IT officers and insurance consultants. All these job profiles are highly promising, and contain immense potential for further advancement. To make a career out of this, you do not need to meddle with IBPS exams.
Banking courses are available in undergraduate and postgraduate levels, to train you for a future banking job. These courses are often confused with basic courses in commerce and finance. However, identifying the right course and right place to study can sure help you in your way to success. Diplomas and certificate courses can also be attempted, which will later turn into additional qualifications. Banking is no longer only about dealing customer’s money. We now deal with digital banking techniques that update themselves every second. Getting trained under a course will give you an insight as to where you can place yourself in this dynamic platform. You get to identify your aptitude, and more than anything, begin to realise that banking does not involve a single line of jobs.
Job Opportunities after studying Banking Courses
Banking institutions require expert work force to meet their various functions. Apart from handling the funds and customers, employees shall deal with insurance, taxes, information security systems, and market fluctuations. Each of these tasks, needless to say, should be performed by specialists. This is where banking courses enter the game. Aspirants with a Bachelor’s or master’s degree in commerce with specialisation in banking, taxation or insurance can easily qualify for many of these job profiles. Further, PG diploma in banking operations, investment banking, certification in telebanking and sales can also provide practical knowledge of working on the field. Following are the major job profiles in banking that can be acquired by enrolling for a dedicated course:
- Financial Analyst
- Financial Manager
- Personal Finance Consultant
- Research Analyst
- Business Analyst
- Employment Tax Specialist
- External Auditor
- Investment Banker
- Market Analyst
- Risk Analyst
- Stock Analyst
- Accounts Assistant
- Loan Counsellor
- Insurance Manager
- Information Security Manager
Banking Courses after 12th
Imagine you have sorted out your aptitude and decided to build a career in the field of banking, by the time you are out of school. It is too early for someone who has just passed 12th standard to have a firm decision, but it will definitely open up more choices. If you wish to take a banking course after 12th, then you should take up a bachelor’s course in commerce or business administration, with a specialisation in banking. These courses are indeed very common, and majority of universities and colleges provide it. If you are going for a private institution, make sure the placement opportunities are decent. And there is a bonus – anyone who has qualified 12th standard can choose to graduate in commerce and business administration, irrespective of their discipline.
Following are some very common banking courses to choose after 12th
- BCom. (Banking)
- BCom. (Banking and Finance)
- BCom. (Banking and Insurance)
- BCom. (Banking and Taxation)
- BCom. (Banking Management)
- BBA (Banking)
- BBA (Banking and Finance)
- BBA (Banking and Insurance)
Very few private institutions in India including City School of Social & Managerial Sciences, Chennai, Anil Surendra Modi School of Commerce, Mumbai and Nagaon GNDG Commerce College, Assam provide courses like BA in Banking and BSc in Banking & Finance. Even if you graduate with any of these degrees, it is advisable that you go for a certificate course of PG diploma.
Banking Courses after Graduation
While graduation gives you a firm base, the course you choose after graduation will act as the corner stone of your career. After graduation, you can opt for any of the three different types of banking courses according to your liking and convenience. There are postgraduate courses in banking, which can earn you a master’s degree along with expertise in the practice of banking. Master’s degree can be taken in commerce or business administration, similar to the case of bachelor’s. The two-year course is slightly intense when compared to other banking courses. However, if you do not wish to go for a masters with banking as specialisation, there are better ways. One-year long postgraduate diploma courses and three-month/six-month long certificate courses in distinct arenas of banking are available for graduates. Some of these certificate courses are unique, and will increase your chances of employment. You can even go for as diploma or certificate after finishing post graduation.
Let us take a look into the diverse range of banking courses available for a graduate
|Master’s Degree||Diploma Course||Certificate Course|
MCom (Banking Management)MCom (Banking & Finance)MCom (Banking & Taxation)MCom (Banking & Insurance)MCom (Banking, Finance & Risk Management)MBA (Banking & Finance)MBA (Banking & Taxation)MBA (Banking & Insurance)MSc Banking & FinanceMVoc in Banking, Stocks & Insurance
|PGD in Banking PGD in Banking OperationsPGD in Retail BankingPGD in Branch BankingPGD in Banking and InsurancePGD in Investment BankingPGD in Islamic Banking and FinanceAdvanced Diploma in Banking ServicesAdvanced Diploma in Urban Co-operative BankingDiploma in Banking LawsDiploma in Home Loan Advising||Certificate Course in BankingCertificate in Patent Searching and DraftingCertificate in Banking and Sales ManagementCertificate in TelebankingProfessional Programme in Commercial Banking (PPCB)Advanced Certificate in Banking Laws and Loan ManagementCertified Bank Manager ProgramCertified Information Systems Auditor (CISA)Certified Information Systems Security Professional (CISSP)Financial Risk Management CertificationProfessional Risk Management Certification|
Considering the focus of the course and its duration, you can easily choose which one would suit you the best. Every course enlisted here – whether it is master’s, diploma or certificate – comes with a mandatory internship. Course fee might fall anywhere between 10,000 and 7 lakhs, depending on the course and institution. Following are some leading private institutes in India that provide these diploma and certificate courses:
- Rajiv Gandhi School of Management Studies and Research, Lucknow
- SIES College of Management Studies, Mumbai
- TIMES Business School, Ahmedabad
- Indian School of Business Management and Administration, New Delhi
- Institute of Finance, Banking and Insurance, New Delhi
Salary in Banking Sector
We have already seen that some of these PG diploma courses can cost up to 7 lakhs. It is quite reasonable to think twice before spending that much as sum for a six-month course. But, this is justified by the average salary for experts in banking sector. A qualified banker can earn up to 10-12 lakh per annum on an average, in various positions. Entry level payment might go as low as 4-5 lakh, and you can expect better package if you have been trained in a reputed institution like IIM. Most excitingly, certified experts might even find a chance to earn a sum of 20 lakh per annum. In short, salary packages in private banking sector is no lesser than nationalised banks. If you are interested in working for global financial institutions abroad, then your package surge even higher.
With the rate in which our economy is developing, it is obvious that our banking sector will expand further in the years to come. New job opportunities are expected in private banking, and institutions are relying more on campus recruitment. Banking courses have always been on top of the high-priority-placement list, and this is one among the few fields in which freshers can climb the ladder of hierarchy in no time. Institutions such as ICICI, HSBC, Kotak Mahindra, HDFC, Standard Chartered, Barclay’s and American Express are some of the leading recruiters.
Banking is also under the process of change. ATMs and net banking have become a part of our every day, and soon more innovative developments will evolve. Banking courses provide the right outlook and the right training for the changing times. Certificate courses can be helpful in enhancing work efficiency as well. Getting a job through competitive exams is one way of making a banking career. Shaping your career uniquely through such diverse courses is another way of doing it. Do you wish to spend years attending exams in a row, or to utilise the time by learning something new that will make you employable? Which way do you choose?