Jobs in Financial sector across globe, is considered a highly rewarding & secured career option. So to be a part of this highly responsible & prestigious industry, applicant needs to have an deep interest towards it. Good education skills in economics & finance is not the only criteria banking job demands. There is more to it. Futuristic approach, quick learner, multitasking abilities are some of many qualities that a banking job needs.
Opportunity in this sector is humongous. Every year public sector banks employs 7 lakh people as per present statistics. Out of this a large number of people retires every 5 ~ 6 years. This year alone 45,000 vacancies in public banks has been reported, due to retirements, resignations & business expansion.
To fill this huge gap and cater to the growing banking business, as banks are expanding their rural segments every now and then to tap the huge potential of the 2/3rd of the Indian capital population, there will be equal number of vacancies created. According to experts next 5 – 10 years is estimated to create 20 lakh jobs in the banking sector alone. Issuance of new licenses formulated by RBI for both private and national banks to reach out to the rural market is a positive seal to the expert opinions.
In terms of career growth, there is a well defined career progression path in each public sector bank. Potential & performance are key factors which determines the career growth for an individual. In most of the banks an officer may reach to the position of General Manager in 14 years, subjective to the individual potentials of hardwork & dedication. However, post the GM level, the candidate may aspire for high positions viz. Executive Director or Chairman of the bank, which again in tern decided through Government nominations.
While for private sector banks, the bank’s network of foreign branches gives you a great window of possibility to apply transfer & work abroad, with a glimpse to working in different culture and format.
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