A Bank job is one of the most sought after jobs in India. And why not. Getting a bank job is a matter of prestige, especially in a government sector bank. Most Engineer graduates are nowadays preferring jobs in banking sectors since they provide security that most companies in private sector fails to. There has been constant growth of banking sector in India such that even in the intense financial breakdown of entire world economy, it remains good and unfaced, raising itself more.
India has thousands of engineering colleges which passses out lakhs of engineers every year. Only a few of these graduates are well placed in accomplished companies. Engineering has become the de-facto graduate degree for a large chunk of students today despite the fact that 80% of them stay unemployed. They might adjust with low pay-scale jobs but eventually they seek better salary packages over time therefore they opt for banking after engineering. Jobs are few in the engineering sector and abundant in the banking sector.
Banking jobs offer more desirable income, security and growth. Engineers in banking sector are mostly those who study in Computer Science/ IT/ Communication are well suited for IT officer jobs. With engineering background, the candidates have upper hand in various officer and managerial posts in the banks as well. Due to the technological advancement in the banking sector, these engineering candidates are being welcomed by the banks. They are adding colors to the workforce with their technical skills and knowledge regarding the banks.
The candidates placed under banking profession are offered gratuity, PF (Provident Fund) and pension with other facilities from the bank. They are also liable to take leaves and holidays. This means no festivals missed with the family. The work stress and working hours are fewer as compared to private firms. The payment and promotion structure is tempting and therefore applicants from engineering background apply for banking jobs. Within 3 to 4 years of service as an officer in a bank could result in becoming the Branch Manager of a particular bank. Though will, intent and hard work the candidates can even rise up through the ladder and become Regional or General Manager of the banks they are working for.
Role of engineers in banking sectors lies in quick learning where usage of softwares is concerned. Engineers have really good mathematics & analytical skills – something that the job demands. ATMs, Internet Banking, Mobile Banking, Credit/Debit Card Management all these departments need engineers. Therefore, coping with new technologies is rather easy for an engineer. Banking sector is going through a transient phase. With more and more technology being integrated into banks via core banking solutions, it is imperative for technically-driven youngsters to take up these entry-level jobs in banks to interact with customers in a better and efficient manner.