Banking Industry

Banks provide employment to a large number of finance and commerce graduates every year. Both Private and Public Sector Banks are known to be ideal career options for individuals who wish to pursue a career in the field of finance, accounting or economics. Read below to find out what it is like to work in a Bank.

Find out more about Banking Jobs in India.

What are the jobs really about?

Transactions and More

All jobs in a Bank revolve around the transfer of money from one entity to another. This can be in the form of daily transactions, loans, mortgages, stock trading etc. Essentially, Bank jobs are responsible for catering to the financial needs of their customers in whichever ways possible.

Find out about the Top 7 Careers in Finance.

In a Bank, you might work as a Teller or an Accountant responsible for recording daily transactions like cash deposits, cash withdrawals, incoming and outgoing cheques etc. You might also work as a Customer Service Executive handling the accounts of customers and providing advice or work as a Loan Agent responsible for providing people with loans as per their requirements. With experience, you can also work in a managerial role at a Bank.

Why do people work in a Bank?

Fixed Schedule

Banks follow a very strict and rigid time schedule. Bank employees work for a fixed number of hours on a daily basis and have a fixed number of holidays per year, which are considerably more than most other professions. This allows people who work in Banks to lead a structured life which is not subject to a lot of variations. The fixed timings and schedules allow Bank employees to pursue their interests and hobbies in their free time, unlike most corporate jobs which are demanding and require you to work for extra hours to meet deadlines.

Find out about the Top 7 Fixed Hours Jobs.

Growth Opportunities

One of the biggest reasons behind people choosing to work in this sector is that a Bank generally offers a lot of growth opportunities to its employees. As a professional working for a Bank, you will get regular opportunities to grow professionally through on the job training programs, competitive exams etc. Not only that, but like any other organization, candidates who have leadership potential and who perform well consistently get recruited for higher posts provided they are suitable for the job.

Good Salaries

As compared to entry – level employees in most other organizations, the entry – level pay for Bank employees is generally higher. This is one of the most important motivating factors behind people choosing to work for a Bank. However, it is important to keep in mind that this does not necessarily apply to all Banks and your salary also depends on your qualifications and job role.

Find out about the Top 7 Money Making Careers.

What is it like to work in a Bank?

Rude Customers

Like any other customer service job, working in a Bank also involves dealing with angry and rude customers on a regular basis. Generally, customers tend to get irritable during delays in transactions or during other instances related to their finances which they are not happy with. Professionals who work in a Bank are required to always keep their cool and maintain a polite tone even a customer is being rude or disrespectful.

Responsibility and Accountability

Working in a Bank involves dealing with huge amounts of money on a daily basis. Bank employees are required to be extremely responsible while handling transactions and are accountable for any mistakes that they make. As a Bank employee, you will need to always be alert and cross check the authenticity of all transactions before they are carried out. Not only that, but you will also be responsible for maintaining the records of all transactions accurately; a miscalculation can often have severe consequences.

Monotony

Bank jobs comprise of performing the same set of tasks on a daily basis. For example, a Bank Teller would be required to record transactions day in – day out and a customer service agent will be dealing with a group of customers every day. The repetition of tasks on a daily basis often leads to monotony at the workplace. There is no challenge in the work and you spend each day of the year in the same environment performing the same tasks.

Professionals who succeed and grow in Banks are the ones who do not let the monotony affect them and who do not lose their initiative to take up challenges. They are always willing to work more than what is required and show their potential whenever possible so as to fast track their growth within the Bank.

Red – Tapism

Working in a Bank generally involves performing repetitive procedures throughout the day and strictly adhering to the company’s policies. Bank employees often have to deal with red – tapism at work which delays decisions and communications considerably. Additionally, Banks follow pre – designed ‘systems’ that are to be adhered to under all circumstances, which slow down the pace of work further.

Employees who succeed in a Bank are the ones who learn to deal with red – tapism and slow decision making process at the workplace and follow the Bank’s procedures and systems at all times and under all circumstances.


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