So, now you have completed your B.Com and are thinking about what is next? If you want stability, good pay and a respected position, then you can try a few job options in the banking sector. Getting a job in the banking sector is a bit tough, but it is possible with the right approach.
To get a banking job, you need to appear for many entrance exams like SBI PO, IBPS PO and many other exams. These exams mainly test your accuracy and speed.
Today, we have written this blog especially for those who want to do a banking job. We will give a step-by-step guide on How To Get A Banking Job After B.Com and we will also do a short comparison of private sector banks with government sector banks.
Understanding The Banking Industry
The banking sector in India is one of the most important parts of the Indian economy as it helps people to save money, get loans, make payments and help them to manage their finances.
On one hand, India has government banks like SBI, PNB, and Bank of Baroda, and on the other hand, it has popular private banks like ICICI, HDFC, Axis Bank and many others. There are also some special banks like the RBI and NABARD that work for a special purpose.
In the past few decades, the banking sector has changed a lot. Many banks now work online and use mobile apps to serve customers. This has created more job opportunities for young graduates, especially those with basic computer knowledge and an interest in finance.
Government Banks Or Private Banks: Which Is A Better?
Criteria | Government Banks | Private Banks |
Job Security | High, due to government backing | Lower, as private banks are more performance-driven |
Salary | Usually lower than private banks, but stable | Higher salaries with performance-based incentives |
Career Growth | Slow and seniority-based promotions | Faster promotions based on performance |
Work Culture | Structured and less stressful | Competitive, fast-paced, and dynamic |
Work-Life Balance | Better work-life balance | Longer working hours, high pressure |
Employee Benefits | Excellent benefits like pensions, healthcare, etc. | Attractive benefits but not as extensive as PSBs |
Job Stability | Very stable, less risk of layoffs | Less stable, more chances of layoffs |
Pressure and Targets | Lower pressure, more routine work | High pressure with sales and performance targets |
Opportunities | Limited roles for specialization | Diverse roles and specialization opportunities |
Skills And Qualifications Required For A Banking Job
- Strong Academic Foundation
A B.Com Graduate can build a solid foundation in finance, economics and accounting, which helps them to understand the banking sector better.
- Analytical and Problem-Solving Skills
Banking sectors deal with a large amount of financial data, and excellent analytical skills are appreciated. These skills can help you assess wealth, identify risks, and make sound financial decisions.
- Communication Skills
Excellent communication skills are essential for customer handling and internal reporting. Whether you are exploring financial products with clients or presenting reports to colleagues, being able to communicate effectively is key to growth.
- Computer Literacy
Computer literacy is a must-have skill if one wants to join the banking sector, proficiency in tools like MS Excel and knowledge of banking software are essential in today’s digital era.
- Attention to Detail
One might deal with jobs like handling cash or reviewing financial records, and in this case, a small error can lead to a big problem, that’s why accuracy is important in this sector.
- Time Management and Multitasking
Banking professionals often deal with multiple tasks. Being able to prioritize, manage time efficiently, and handle high-pressure situations is important for success.
- Customer Service Orientation
Strong customer service skills are essential in all banking roles. Understanding client needs and providing effective solutions will help you excel in customer-facing positions.
Strategies To Increase Your Chances Of Getting Hired
- Network with Industry Professionals
Networking is the most effective way to learn about hidden job opportunities, gain insights into the industry, and build connections that will help you in the long run. You can use platforms like LinkedIn to make one, and also try to attend events related to the banking sector.
- Use Job Portals
Sign up on different job portals like Naukri.com, Indeed, or LinkedIn, and track different banking websites like HDFC, ICICI, etc., for job opportunities. Design your application to match the job description to increase your chances of getting hired.
- Research Banking Companies
Before applying for a banking job, you should know about the bank you are interested in working for. Good research will help you to understand, company’s values, work ethics and expectations from candidates. You can start by checking the career section of a bank’s website, like SBI, IndusInd and HDFC, etc.
- Build Your Resume and Cover Letter Effectively
Create a banking-centred resume and add relevant skills like financial analysis, accounting, customer service, and banking software. Then write an attractive and clear cover letter showcasing your passion for the banking sector and your understanding of banking operations.
- Prepare for Interviews
Research the bank’s history, services, values, and any recent developments the bank has made. Being well informed about the bank reflects your interest in the company and its operations. Along with that, practice common interview questions as well as technical questions.
- Be Persistent
Due to the intense competition, getting a job in the banking sector can take time; that’s why you need to stay persistent. Consistently prepare for exams like SBI PO, IBPS PO and create a study schedule and practice mock tests. Stay updated with current affairs to boost your chances of clearing the exam.
- Gain Practical Experience Through Internships
Internships are a great way to gain hands-on experience in areas like customer service, account management, and data entry. Even a small role can significantly improve your resume and make you a more eligible candidate among others.
Common Entrance Exams
Exam Name | Exam Pattern | Eligibility Criteria |
SBI PO | Basic: 100 questions on English, Quantitative Aptitude, and Reasoning (1 hour) | Qualification: Graduation in any discipline Age: 21 to 30 years. |
Mains: 155 questions on General Awareness, English, Data Analysis, Reasoning (3 hours) | ||
Interview: Group Discussion & Personal Interview (final phase) | ||
IBPS PO | Basic: 100 questions on English, Quantitative Aptitude, and Reasoning (1 hour) | Qualification: Graduation in any discipline Age: 20 to 30 years. |
Mains: 155 questions on General Awareness, English, Quantitative Aptitude, Reasoning, and Computer Knowledge (3 hours) | ||
Interview: Personal Interview after qualifying Mains | ||
RBI Grade B | Phase I: Objective test on General Awareness, English, Quantitative Aptitude, and Reasoning (2 hours) | Qualification: Minimum 60% in graduation (or equivalent). Age: 21 to 30 years. |
Phase II: Paper on Economic and Social Issues, English, and Finance/Management (3 hours) | ||
Interview: Personal Interview | ||
IBPS Clerk | Basic: 100 questions on English, Quantitative Aptitude, and Reasoning (1 hour) | Qualification: Graduation in any discipline Age: 20 to 28 years. |
Mains: 190 questions on General Awareness, Computer Knowledge, Reasoning, English, and Quantitative Aptitude (2 hours 40 minutes) | ||
SBI Clerk | Basic: 100 questions on English, Quantitative Aptitude, and Reasoning (1 hour) | Qualification: Graduation in any discipline Age: 20 to 28 years. |
Mains: 190 questions on General Awareness, Computer Knowledge, Reasoning, English, and Quantitative Aptitude (2 hours 40 minutes) | ||
Specialist Officer (SO) | Basic: 150 questions on Reasoning, English, Quantitative Aptitude (1 hour) | Qualification: Relevant specializations (e.g., IT, HR, Marketing) Age: 20 to 30 years. |
Mains: 150 questions on Professional Knowledge (2 hours) | ||
Private Bank Exams (ICICI, HDFC, Axis) | Online Test: Similar to IBPS PO, focusing on Aptitude, Reasoning, English, and General Knowledge | Qualification: Graduation in any discipline Age: 21 to 28 years. |
Interview: Personal Interview or Group Discussion |
Steps Of Getting Banking Jobs In India
Step 1: Fill out the online application form, providing personal, educational, and other required details. Pay the application fee.
Step 2: Take the objective-type exam that covers English, Quantitative Aptitude, and Reasoning Ability. This is usually a 1-hour test and is an elimination round.
Step 3: Appear for the detailed exam that tests General Awareness, English, Reasoning, Quantitative Aptitude, and sometimes Descriptive English. This exam usually lasts 2-3 hours.
Step 4: Shortlisted candidates attend a personal interview or participate in a Group Discussion. The focus is on assessing communication skills, personality, and banking knowledge.
Step 5: Submit and verify your educational certificates, identity proof, age proof, and other required documents. Ensure all documents are authentic and meet the eligibility criteria.
Step 6: A merit list is created based on your performance in the mains exam and the interview/GD. Candidates are selected according to their rankings.
Step 7: Selected candidates undergo training for the role, followed by a probation period that usually lasts from 6 months to 2 years, during which performance is evaluated.
Step 8: Once training and probation are completed successfully, candidates are posted to a bank branch or office and begin working in their designated role.
Career Opportunities In The Banking Sector
- Relationship Manager: They are responsible for managing a portfolio of clients and providing banking services like loans, investments, and advice.
- Credit Analyst: They primarily evaluate the creditworthiness of clients, analyse financial data, and recommend loans.
- Loan Officer: They evaluate and approve or deny loan applications, providing clients with suitable loan options.
- Risk Manager: They calculate and manage potential risks to the bank, including financial, operational, and regulatory risks.
- Branch Manager: They handle the operations of a bank branch, manage staff, and handle customer issues.
- Financial Analyst: They analyse financial data, prepare reports, and provide insights on investment and profitability.
- Audit Manager: They manage audits to ensure compliance with legal standards and internal policies, detecting fraud.
- Marketing Manager: It creates marketing campaigns to promote the bank’s products and services, conducting market research.
- IT Specialist: They are responsible for the bank’s digital infrastructure and ensure data security and the smooth operation of tech platforms.
- Investment Banker: They help clients raise capital through securities and provide advice on mergers and acquisitions.
Conclusion
So, now you know how to get a banking job after B.Com. getting a banking job is quite challenging. in the banking sector, you need to appear for entrance exams and an interview process, while in private banks, you need to appear for interviews.
Jobs in government banks offer you job stability and a higher salary, whereas private banks offer fast promotion, and it happens since performance.
Frequently Asked Questions
Q1. Can I get a bank job right after B.Com?
Ans. Yes, you can apply for entry-level jobs in private banks after B.Com. For government banks, you’ll need to clear exams like IBPS, SBI PO etc.
Q2. Is it necessary to clear an exam to work in a bank?
Q3. What is the age limit for government bank exams?
Ans. Most government bank exams require candidates to be between 20 to 30 years old. Age relaxations apply for reserved categories.
Q4. Which banking exams should I prepare for after B.Com?
Ans. You can prepare for exams like IBPS PO/Clerk, SBI PO/Clerk, RBI Grade B/Assistant, and NABARD.
Q5. Are online courses useful for getting a banking job?
Ans. Yes, short courses in banking, finance, or Excel can improve your resume and help you in interviews, especially for private banks.
