How to get a Bank Job in India after college?
Just as with any other government examination, a bank job is highly contested. With both, the public as well as the private sector of the banking industry developing at a fast pace, college graduates have a lot to aim for when it comes to entrance examinations. The decision to apply for an examination should ideally be influenced by factors such as,
2. Roles and Responsibilities
5. Industry sector (public/private)
In addition to the above, there are times when a student doesn’t even know about an exam taking place. There are 3 types of jobs in the banking industry that can be applied for through common written examinations. These 3 levels of designations are:
- Probationary Officer
- Bank Clerk
- Specialist Officer
The minimum education qualification for bank jobs for such profiles is to be a college graduate. There are further mandates of a minimum percentage of marks as well, but that varies as per the socio-ethnic background of the applicant be it General, Scheduled Casts, Scheduled Tribes, Other Backward classes, etc.
Banks such as the State Bank of India, conduct examinations themselves and undertake bulk-hiring for such positions. Yet, many others empanel themselves with government-approved institutions such as the IBPS. The below list covers such major examinations that are heavily contested for by the masses.
Institute of Banking Personnel Selection conducts annual written tests for the following posts:
Clerical – The empanelled banks hire candidates passing the exam for the clerical post. There are two slabs, referred to as “cadres” for which the exam is conducted. They are cadre IX and VIII.
Probationary Officer – The bank exam eligibility for age is between 20-30 years. Students passing the exam are enrolled by affiliate banks. As the designation indicates, they serve a period under “probation,” for which time they are referred to as probationary officers. As soon as the probation period is over, the banking professional joins his/her finalized role at the designation of an Assistant Manager. It is believed, that every year approximately 10 lakh students appear for the IBPS Bank PO examination. The Preliminary Exam is followed by Mains and an interview.
Specialist Officer – The specialist officer is a broader term used for a collection of profiles. These include the following:
1. I.T. Officer
2. Rajbhasha Adhikari
3. Agricultural Field Officer
4. Marketing Officer
5. Law officer
HR/Personnel Officer - It is a three-stage exam process, where students have to prove their knowledge in the preliminary tests first, then move on to the Mains, and finally clear the face to face round with the jury in an interview.
Regional Rural Bank
Again, the minimum education qualification for bank jobs remains the same as in IBPS PO & Clerk exams, i.e. a college graduation degree.
There are 45 Regional Rural Banks (RRB) in India, however, on April 1st, 2020, this number was reduced to 36. The above-listed exams by the IBPS are conducted for urban nationalized banks.
However, it organizes the same for partner banks located in rural localities as well. Through this exam, IBPS enables the hiring of Probationary Officers under a scale of 1, 2, and 3. In addition to that candidates can apply for the post of Office Assistants, which is equal to the clerical cadre in urban locations.
Reserve Bank of India
RBI conducts a common written examination for its Grade B officer posts. The day to day responsibilities for this profile involves keeping inflation levels in check by seeing that the RBI guidelines are strictly followed.
State Bank of India
SBI is one of the largest national banks in India. It coordinates common written tests for two posts namely the Probationary officer and the Bank Clerk.
Probationary officer – The examination is divided into 3 stages i.e. Preliminary, Mains, and the Group Discussion and Interviews. Candidates who successfully clear all the stages are placed under a probation of 2-years. Such trainees may be posted to work at the,
1. Local Head office
2. Regional Business Office
3. SME Branch
4. General Banking Branch
5. Corporate Office
6. Zonal Office
7. Specialized Branch
After 2 years and going through another round of internal screening, PO-trainees are rewarded with the post of Assistant Managers.
Clerical Officer – The Junior Associate designation is the same as a Clerk in SBI. In nature, it is a client-facing role where clerical professionals may be required to:
1. Personally assist customers with their concerns at the deposit counters
2. Market SBI’s products and services
3. Support back-office operations such as maintaining documentation, data entry, etc.
Junior Associates have to choose specific geography (state/city) that he/she would apply to basis the vacancies. In addition to passing through other filters of the bank exam eligibility, a candidate must also pass a language proficiency test. It is only after clearing this stage that they are offered the job in SBI.
The above-listed alternatives are for public/national banks. Private Banks have their own set of practices and procedures to hire candidates. Students are encouraged to keep track of the Careers section of their websites for updates. This is one way, but to get a bank job after college in the private sector you have the option to enroll in short term programs.
The Institute of Finance, Banking, and Insurance, better known as IFBI, was set by NIIT in partnership with the ICICI Bank in 2006. Since then, IFBI has launched multiple programs training and placing 50000+ candidates in the Banking, Financial Services & Insurance sector.
NIIT IFBI offers students the opportunity to work at the ICICI Bank through its short-term classroom program, Post Graduate Diploma in Sales and Relationship Banking (PGDSRB). NIIT IFBI follows a 3-stage placement process.
1. First, students appear for interviews and preliminary examinations coordinated by NIIT faculty.
2. Second, upon clearing the screening rounds, students receive a provisional offer letter that contains the Terms & Conditions of joining ICICI Bank.
3. Third, after making up their mind, candidates can pay the fee and join the 45-day classroom training.
As students complete the 45-day curriculum, they are on-boarded by ICICI Bank as interns for 3-months. Following a performance assessment, an intern is converted to a full-time employee designated as a Relationship Banker. From there on they have a platform to build their career ahead at the ICICI Bank. Find out how you too can create your dream banking career.