A Lucrative Career in Banking
Banking – Increase in private banking sectors, brought innumerable opportunities to have a bright future. Today all around the world banking sector has a good demand. It is not that everyone can seek a job in banks and according to research nearly 45% of people are unable to get a job in banking. People are confused as both private and public banks have pros and cons. Both sectors have their own inception and play an important role in the economy.
It is very difficult to get a job in both sectors and so there is a need to go through aptitude test which will make easy to get a job. The public banking sector is different from the private banking sector, in order to get in particular section decisions to be made on basis of aptitude, skills, capabilities and choices.
Vacancies in the banking sector
One who wishes to get a job in public banks has to stay alert by checking to advertise in the newspaper. Vacancies are being declared through advertisement and it is done by public notice. In public sector reservation of seats according to the category will be there, this will be not there in private banks. It is easy to get a job in private banks as recruitment is done through links, interviews, consultants and even campus. There are private banks where recruitments are done though advertise but it is limited to their particular sites.
Packages and growth
In both sectors, packages are offered according to designation offered in the bank. Private Banks offer packages according to the knowledge and skills of person and salary is fixed. It varies from one bank to other. In public banks Rs. 7000 – 20000 is offered to clerks while Rs. 14000 – 26000 is offered to PO. These type of pay scale increases as one gets promotion further.
People who are looking for stability will find public bank best for them. But growth and promotion are very low in the public bank as compared to private banks. There will be no assurance of a job in a private bank and thus job security will not be there. In private bank knowledge and targets are given importance and one who is unable to achieve it will get kicked off. In public banks, there is safety and time is given to adapt the environment and working.
Private bank recruitments are easy for students who belong to finance or commerce background. These sectors also go for aptitude exams and personal interview to offer jobs to candidates. Private sector banks have their own process which will help to recruit right candidate.
There are different entrance exams for public sector banks like SBI have their own entrance exam while other public-sector banks have IBPS exams. It is very tough to clear these exams and get jobs. This goes to prove that seeking admission to the public sector is very competitive and tough.