- One can enter banking profession after clearing PO exam. The minimum requirement is a graduation degree.
- The cost of education is minimal.
- The positive of this job is great work-environment, good salary and several opportunities to grow.
- The downside is frequent transfers, which disrupts the family and your social life.
- Because of several government schemes, the work pressure is really high and it causes a lot of stress.
Name – Vivek Prakash
Age – 52
Gender – Male
Profession – Manager at Bank of Baroda
Industry – Banking
City – Dadri
Where have you been born and raised?
I was born in Begusarai, Bihar and completed my education in Patna. My father was a businessman and my mother a homemaker. I have two brothers. The elder one is now an IRS officer while the younger one is Assistant Professor.
Who influenced you most and how?
My elder brother had the most influence on me. He was my mentor and teacher right from class 6th to B.Tech. He guided me in my career and studies and showed me the right path to success.
Please give a summary of your career in banking.
I completed my B. Tech from NIT, Durgapur but later decided to enter banking as a profession. I had a strong base in Math and GK, so cracking the entrance exam of Banking wasn’t difficult for me.
I was first posted in the Pratapgarh Branch of BoB as a Probationary Officer (PO) and stayed there for one and a half years. Then, I was posted to Rae Bareilly and got promoted to Credit Officer. After 10 months there, I became Manager at the Amethi branch and stayed there for 2 years. Then, I became a Branch Manager in Sultanpur where I worked for 11 months.
Recently, I was promoted to the Dadri branch as a Manager.
What is the qualification of a bank manager?
The minimum education required to get into banking is a graduate degree. You, then have to clear the IBPS PO exam.
To become PO at BoB, one must go to Baroda Manipal School of Banking.
What are the costs associated with the training/education of banking profession?
The training is very affordable. It won’t cost more than 10,000 INR.
What are the typical entry-level jobs in banking?
There are 2 ways:
IBPS PO exam — You would have to give PO exam conducted by IBPS. While applying for this exam, you have to rank various banks according to your choice. Based on your marks in the exam and your choices of bank preferences, you may be offered a PO job in a bank.
Another direct and surer way is getting into the Baroda Manipal School of Banking. They train and prepare candidates for 9-odd months in batches. During these 9 months, 3 exams are conducted in 3 months gaps, which you’d have to clear to get employed.
How does the promotion ladder work in banking?
One starts as a PO in the bank. Then with promotions, you become Manager, Senior Branch Manager, Chief Manager, Assistant general manager, Deputy General Manager and finally General Manager.
What is the range of salary one can expect in banking?
Starting out — 2.75 lacs per annum
5 years’ experience — 8.7 lacs per annum
10 years’ experience — 14 lacs per annum
15 years’ experience — 18 lacs per annum
20+ years’ experience — 21 lacs per annum
Please describe a banker’s job description.
My work is to oversee the daily operations of the bank’s satellite office. I supervise branch workers including tellers and loan officers, evaluate loan applications and oversee the flow of cash and financial instruments.
Also, I ensure that security and cash-handling procedures are followed. I report to the company’s home office on the activities of the branch and serve as the company’s representative in the local business community.
I work 8 hours daily. Sundays and 2nd Saturdays of the month are holidays.
What are the benefits of working in the banking industry?
- There is a good scope of career growth banking. One can expect frequent promotions. Vacancies are also very frequent. Thus, it’s an excellent and growing field.
- The cost of training is also very low and it doesn’t even require any rigorous training.
- Banking profession provides good job security, amazing salary packages and enough holidays.
- You get to work in a comfortable office environment.
- It also includes all the governmental perks like residence, medical insurance, transportation facilities, ensured pension security etc.
What are some of the challenges that someone should be aware of when considering a career in the banking industry?
- The work pressure is really high. All the schemes of the government are implemented through the bank itself. This gives you a lot of stress.
- I also personally believe that the salary in the job is lower than the effort we put in.
- We are also required to frequently move due to the transfers. This is a challenge, especially for your family, who have to adjust to a new place every now and then. Your social-life gets impacted too.
What are the relevant skills/technologies/trends that are considered premium in banking?
You should have skills of customer service, communication, accounting, decision-making, and time management; knowledge of federal and state regulations regarding financial reporting is also required. It is mainly field work.
What kind of a person would be happy as a bank manager?
A person who can work for hours sitting on a single chair in the office settings and can deal with a lot of work pressure would be happy with the job.
Given another choice, what would you do differently as far as your professional selections are concerned?
Yes. I’m satisfied with the job but not a lot. I’d definitely try for UPSC.
What would be your advice to students or professionals who are just starting their journey on a path like yours?
Be mentally prepared and strong. You’d have to deal with a lot of stress. Be aware and vigilant and all will be fine.
If you liked this article, you may also like to check our conversation with Mr. Lakshman Mahto (Senior Manager at SBI)