Commerce in India
Banking is one of the most secure, well-paid and satisfying career pursued by graduates in commerce as well as other streams. The emergence of technology-driven new private banks and financial institutions have broadened the range of banking services. Now banks are dabbled in mutual funds, securitization business, credit cards, consumer loans, housing loans besides trading in gold and forex activities. These expansions has opened up vast avenues for young graduates in banking. Some of the prerequisites of this field are good communication skills, good interpersonal skills, the etiquette to handle customers, problem solving skills, ability to listen to details and a basic knowledge of the industry.
For admission into a bachelor’s degree, the candidate must have passed the higher secondary education or 10+2 examination with commerce subjects such as accounts, maths and economics. The duration for this program is of 3 years.
For admission into a master’s degree a must have a bachelor's degree with commerce subjects such as accounts, maths and economics. The duration for this program is of 2 years.
Openings are available in banks at various levels, from bank clerical to probationary officers (PO). There are front office personnel in all banks, and then there are supervisors who handle most back office operations like completion of transactions and general ledger work. In private and international banks, graduates can get lucrative jobs like that of a Project Finance Manager, Equity and Fixed Income Settlements Specialists, Commercial Finance Manager, Compliance Officer, Corporate Banking Trade Analyst, Cash Management Operator and Consumer Banking Asset Operator. One can also look for various other job profiles like Business Analyst, Market Risk Analyst, Corporate Banking Credit Analyst, Consumer Banking Asset Operation Manager, Forex Head and Corporate Banking Branch Head, in banks like ABN AMRO, Deutsche Bank, Barclays Plc, HSBC, Citi Bank N.A. Dresdner Bank, Goldman Sachs, Lehman Brothers, Standard Chartered Bank, Royal Bank of Scotland et al.
Most public sector officers can begin in the Rs 6000-8000 per month scale. The annual entry level salary ranges from 2.65 lakhs per annum to about 45- 48 lakhs for people with relevant skills and with about 13-14 years of experience. MBA graduates recruited by private and foreign banks are given more plausible packages to the extent of about Rs 25000-30000 a month.
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