NABARD has managers of two grades- A and B. To become a group A officer, one needs either a graduation degree or/MBA/CA. For group B, one should pass with at least 60% marks.
Highest-paying banking jobs in India
Bank jobs are considered one of the highest-paying and most lucrative jobs out there.We have listed some of the highest-paying roles in a bank in India –
- Internal Auditor –Internal auditorevaluates a bank’s financesand risk management. In order to facilitate better profits, an internal auditor provides ideas and suggestions to streamline the bank’s financial transactions. It is probably one of thehighest-paying roles in banking, with an annual salary of over 40 lacs INR.
- Equity Trader –An equity trader is responsible for advising on the stock exchange provided by the respective bank. Equity traders make decisions by studying and analyzing the financial risks and market conditions and are also in charge of handling the funds. The annual salary of an equity trader is around 49 lacs INR.
- Bank Manager –A Bank Manager handles all the bank matters. Fromthe functioning of the bank to customer care and management, he has to supervise everything. The annual salary of a bank manager from a reputed bank is around 40 lacs INR.
- Investment Banker-Due to it being a financially high-profile job, an investment banker is the dream job of many finance students and aspirants. They have various responsibilities such asscouting for investors and convincing them to purchase stockfrom the respective bank’s projects and conducting fundraising for the bank’s projects through public investments. An investment banker is paid around 70 lacs INR yearly.
- Foreign Exchange Trader –A Forex trader studies the worldwide currency market and comes up with ways to increase the country’s currency value. As the currency value fluctuates, work in this field can be very taxing and often stressful.Forex trading is one of the most lucrative roles in the banking sector.On average he would make around 65 lacs INR per year.
How can I get a job in the banking sectorin India?
The banking sector continues to grow and is providing exciting job opportunities even post covid.
Due to job stability and loans at discounted interest rates, it is an excellent sector to make a career in. One can get a job in the banking sector by fulfilling the following requirements:
1. EligibilityCriteria –In terms of educational qualifications, for public sector banks, graduation is the minimum requirement.
Candidates need to have anywhere between 55-60% in their final year exam. Depending on the position applied for, candidates need to be between 18 and 30 years of age.
Private sector banks tend to prefer MBAs with knowledge of finance and banking.
2. Crack Entrance Exam (for Public Sector Banks) –
For employment in public sector banks, one needs to appear for abanking exam. These exams are conducted by the Institute of Banking Personnel Selection (IBPS) and SBI.
Some of these exams are as follows:
- SBI PO (Probationary officer)
- SBI SO (Specialist officer)
- SBI Clerk
- IBPS PO
- IBPS SO
- IBPS Clerk
- IBPS RRB (Regional Rural Banks)
- Reserve Bank of India Officer Grade B &C
Typically, these exams involve testing candidates on reasoning ability, quantitative aptitude, English language skills, and general awareness of the economy and banking.
Depending on your skills, you may need up to 6 months to prepare for IBPS exams.
3 Match the Requirements on Job Portals –Private sector banks list their job requirements on various job portals. If the job vacancy is for an audit specialist, one needs technical knowledge of finance & accounting.
4 Create a proper CV –The banking industry places a lot of emphasis on the professionalism of a CV. You should highlight your analytical skills and financial literacy, communication skills on the CV. Attach a professional picture to your CV as well.
5. Update Your LinkedIn Profile –You should update your LinkedIn profile with the right headline and right content suited for the banking industry.
Toknow more about the requirements of this sector, you can join groups related to Bankingcareers. You can follow people from the HR departments of a leading bank. That way you can stay updated on job vacancies.
6. Invest in Quality Banking Education –One way to enter the banking industry is by investing in a professional banking course. Banking is a huge industry and has unique educational requirements. The course also covers the latest developments in banking and finance, including AI in banking, digital finance, blockchain, cryptocurrency, and digital fraud.
Hierarchy in private sector banks
ICICI Bank Hierarchy
ICICI Bank is a leading private sector bank in India headquartered in Mumbai. This development finance institution has anetwork of 5,275 branchesacross India and is present in 17 countries.
- Senior Officer
- Assistant Manager Band 1
- Assistant Manager Band 2
- Deputy Manager DM1
- Deputy Manager DM2
- Manager MM1
- Manager MM2
- Chief Manager CM1
- Chief Manager CM2
- Assistant General Manager AGM
- Deputy General Manager DGM
- General Manager GM
- Joint General Manager JGM
- Senior General Manager SGM 1
- Senior General Manager SGM 2
- Executive Director (ED)
- Managing Director (MD) and Chief Executive Officer (CEO)
The hierarchy at HDFC Bank
HDFC Bank is one of India’s leading banks, providing a wide range of financial products & services across hundreds of Indian cities.
The bank has emerged as a key player in retail banking,wholesale banking, & treasury operations, its three principal business segments.
- E1 Assistant Manager
- E2 Deputy Manager
- E3 Manager
- E4 Senior Manager
- D1 Assistant Vice President
- D2 Deputy Vice President
- D3 Vice President
- D4 Senior Vice President
- D5 Senior Vice President
- C1(Executive Vice President)
- C2 Executive Vice President
- CX Group Head (Cluster Head)
- EDExecutive Director
- MD Managing Director and CEO – Chief Executive Officer
FAQ
Q. Which is better for the job, a private bank or a government bank?
Public sector banks are known for their superior organizational structure and greater customer penetration.
However, the work environment is less competitive than that of privately held banks. As a result, professionals frequently fail to focus on meeting goals and being the best performer in their teams.
Q. Top private banks in India by market capitalization?
- HDFC Bank
- ICICI Bank
- Kotak Mahindra Bank Ltd
- Axis Bank Ltd
- IndusInd Bank Ltd
- Yes Bank Ltd
- IDFC First Bank Ltd
- Federal Bank Ltd
- Bandhan Bank Ltd
- South Indian Bank Ltd
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