Career progression for Officers in Banking Sector

Junior Management Grade – Scale I: Officer
Middle Management Grade – Scale II: Manager
Middle Management Grade – Scale III: Senior Manager
Senior Management Grade – Scale IV: Chief Manager
Senior Management Grade Scale V: Assistant General Manager
Top Management Grade Scale VI: Deputy General Manager
Top Management Grade Scale VII: General Manager

Recruitment in higher scales

With some experience one can expect to join a public sector bank in a higher scale. Most of the vacancies in higher scales exist in Middle Management Grade II or III. Of course, the candidate should fulfill the eligibility criteria with regards to age and qualification. The experience required for higher scale keeps changing from bank to bank, it may be one year or more. Professionally qualified people (with qualifications like MBA, CA etc) stand better chance in this regard.

Campus Recruitment

Since last 3-4 years public sector banks have started recruiting from campuses. This campus recruitment covers only a small part of their manpower needs but it has opened a new window of opportunity to students wanting to make a career in banks. From campuses banks are taking MBAs from different disciplines, agriculture graduates, chartered accountants etc.

Job Satisfaction as a Banker

Dear friend as a banker, you will find a true job satisfaction as you have to help needy people to get loans for starting business, pursuing higher education, loans for buying home, car, bike etc. you bring happiness to many families in real terms you are helping them to stand on their foot.

1. You’re helping poor women save their money away from their drunkard husband and so on….
2. Banks help the economic growth in small towns and large villages=> prevent migration to metropolitans and subsequent problems related to slums etc.
3. Thus, a Banker is also doing an essential public service– just like doctor and policeman.
4. So, Apart from good salary, there is job satisfaction, the feeling of having done something good for another fellow Indian.
5. All that is necessary for the triumph of evil is that good men do nothing. e.g. subprime crisis in USA because banks were run by idiots. Indian banking sector is immune from such shocks because by and large the officials are diligent in their work.
6. In way this is just like politics- if good men stop coming then idiots will get in charge and ruin everything. If all good folks stop joining police force then only crooked will don the uniform, criminals don’t fear police anymore and that’s why all the riots and gangrapes.
7. Same way, if good folks don’t join public sector banks and since private banks not interested in serving rural areas= poor people will keep suffering at the hands of evil money lenders, no rural growth, severe problem related with urban migration and abject poverty.

Conclusion

Public sector banks may not offer fancy financial packages which multinational and few other companies offer. But the compensation in these banks with the recent wage revision including perquisites is quite good. And there is an element of job security too. The housing and medical facilities are also considered attractive.

Public Sector Banks in India

Punjab National Bank
Bank of Baroda
Bank of India
Canara Bank
Allahabad Bank
Andhra Bank
Bank of Maharashtra
Central Bank of India
Corporation Bank
Dena Bank
Indian Bank
Indian Overseas Bank
Oriental Bank of Commerce
Punjab and Sind Bank
IDBI Bank
Bhartiya Mahila Bank
Syndicate Bank
UCO Bank
United Bank of India
Union Bank of India
Vijaya Bank
State Bank of India
State Bank of Hyderabad
State Bank of Patiala
State Bank of Mysore
State Bank of Bikaner and Jaipur
State Bank of Travancore.

All the Best to fellow Banking Aspirants!!