Banking and financial service have always been the most preferred employment sector for the best students across the world.  Over 10 international banks like Goldman Sachs, JP Morgan, American Express, etc and 30-plus Indian banks like ICICI, Yes, Axis, IDBI, Kotak, HDFC and Citi, are regularly seen scouting for talent at campuses in the country.

The tradition of IIMs shows that top students have always had a bias towards working in the banking sector. A Deloitte survey on Popularity of working in Banking conducted in 2013 found that students seeking banking jobs are motivated by learning and earning prospects of banking sector.

Top factors that are attached to banking sector jobs which make it a career of choice are:

Professional Training & Development

We are living in the knowledge society and the real talent of today values continuous learning and development. Inherently, finance and banking are information driven industries. People working here are always learning and dealing with new and innovative practices that make the jobs interesting for them.

Also, being a people oriented sector, banks put a lot of emphasis on developing professional skills of its people. This makes it the foremost reason why banking sectors attracts the best talent across the world.

Financial Strength

The huge capital norms and the backup of central banks make banking and financial service companies very strong and stable. The fact that they are dealing with the public money gives them a lot of government protection. Strong regulations block the entry of non- serious or weak players in the sectors. These factors put together make banking jobs a lot more secure and stable.

Good Future Reference

A student who once becomes a banker is able to reap its benefits for his entire career. A banking job of a few years in the beginning of an individual's career makes it a good career reference for his entire future. Experience as a banker helps a candidate both professionally and socially.

Prestige

Bankers or anyone else dealing with money have always commanded a higher social status in all cultures and societies, since time memorial. The prestige that is attached with a banking job both global and rural. The respect and prestige of being a banker is therefore a strong intrinsic reason for a lot of talented candidates to seek a banking career.

What will you become?

The banking sector is growing and so are the opportunities therein. There is no ‘one size fits all’ profile in banking. Banks offering different types of services recruit candidates with varying skills sets.

The role of a clerk in a fully computerised branch has already become redundant. Most people are recruited in office profile and are required to have specialised domain knowledge.

During the course of study, the corporate relations department helps a student in identifying the most suitable profile according to their strengths and aptitude.

High Future Earnings

The average salary of banker with 10-plus years experience in India is more than `10 lakh per annum. The trends show that after making a ground hold for about two-three years in banking industry people tend to grow much faster in this sector in comparison to other manufacturing and service sector opportunities.

 Also, it is notable that good students are usually forward looking and prefer jobs which give them higher future growth than immediate salary.

The author is Professor. Amit Goyal, Director

TKWs Institute of Banking and Finance