Life in Banking After Selection
With many Banking exams are scheduled to take place this month, and joining of many successful candidates is taking place we are here with some of experiences in Banking after selection. This post include the difficulties, opportunities, promotion policies etc. with reference to Banking.
Journey In Banking
- Birth of a Banking Career: Its awesome. Usually you are posted away from your hometown/ home-state, you learn and train yourself. Many training take place. You get multiple postings in different branches and work in different environments. This carries on for a duration of 2-3 years, till you are well trained. This is the golden period of a banking career. This is the best time to complete your JAIIB and CAIIB Certifications which earn you two extra increments in your salary.
- Banking Career after 2-3 years: In today’s time banks have become very particular on the Human Resource issues because attrition rate in banking is very high due to high pressures and comparative less salaries. Promotions in banking take place every 2-3 years. If one keep on taking promotions every 2-3 years, he is expected to become a Chief Manager by age of 35 years and would certainly retire from a higher post at the age of 60.
Work Culture in Banks
Work Culture is one thing that has worsened in Banking Industry. There is lot of work pressure from different segments. There are a lot of government schemes, delivery of which is entirely dependent on banking channels. NPA’s are one of the biggest issue in banking, which has in turn increased enormous pressure on banking fraternity. Banking Today has changed into a target and incentive based industry, which leads to another increase in pressure.
Salary revision is done in banking every 5 years which is now due to take place in Nov 2017. Salaries in Banking are very less in comparison to central government jobs, vacancies where are also enormous. Current Basic for a Probationary Officer in Bank is 23700 and for a Clerical staff its Rs.11765/-. Perks and extra allowances differ from Bank to Bank.
Opportunities In Banking
Banking as an industry has a lot for you to learn. From customer handling experiences you have opportunity to work in advances, foreign exchange, deposits, remittances, foreign offices etc. You have many opportunities to learn from different spheres of banking.
An Advice from Our Panelist: If you wish to do something else, but have joined bank, the first couple of years is the time when you can move on to cherish your dreams. As the time you pass in bank increases, your wish to change will deplete and you will be forced to continue.
We hope that this article helps you to understand working in Banking better.