How to become a banker is a leading question among students. Becoming a banker is challenging, and while many emphasise the importance of strong maths skills, there are other requirements. While proficiency in maths is crucial, it’s just one aspect of the multifaceted skill set needed to succeed in banking. Achieving this career path in India demands years of dedicated education, unwavering perseverance, in-depth financial knowledge, hard work, and unyielding determination. Bankers typically undertake responsibilities such as accepting deposits, facilitating loans, and managing transaction clearances.
How to Become a Banker
The typical route involves completing class 12 from a recognised board and then pursuing an undergraduate course in finance or economics. While job opportunities may open after obtaining a bachelor’s degree, pursuing a master’s degree, clearing a competitive exam, and securing an internship certificate can significantly enhance one’s prospects.
The salary of bankers in India is subject to variation based on factors such as designation, experience, and the specific bank of employment. On average, bankers in India earn an annual salary of INR 3 LPA, with monthly earnings ranging from INR 21,683 to INR 23,147, and the highest salary reaching INR 8 LPA. The remuneration also hinges on the type of banker and the expertise they have acquired, whether in roles such as Investment Bankers, Bank Managers, Probationary Officers, or others.
Also read:Â Best Certificate Courses in Banking 2024, Placement, and Fee
Which Course is best for banking after the 12th
Individuals aspiring to pursue a career in banking can explore a range of degree programs at both the undergraduate and postgraduate levels. In India, a degree for banking careers in Commerce, Science, or Arts is necessary for applying to banking positions. Candidates must secure a commendable score in the requisite bank exams to qualify for desired roles.Â
Moreover, obtaining a degree in the relevant field becomes essential for those specialising in particular banking fields like Investment Banking or Commercial Banking. The following are key banking courses that one can know to how to become a banker:
| Bachelor Courses (UG) | Masters Courses (PG) | Diploma/ Certificate |
| Bachelor’s in Banking and Finance | MBA in Banking and Finance | Diploma in Banking and Finance |
| BBA in Banking/Accounting | Master’s in Financial Mathematics | Graduate Certificate of Finance and Banking |
| Bachelor’s in Finance and Accounting | Master’s in Monetary and Financial Economics | Graduate Certificate in Banking Security |
| Bachelor’s in Statistics and Business | Master’s in Finance/ Accounting | Diploma in Banking Services Management |
| Bachelor’s in Banking And Insurance (BBI) | Master’s in Banking And Insurance | Graduate Diploma in Banking |
| Bachelor’s of Commerce | Master’s of Commerce | Graduate Diploma in Banking and Finance Law |
| Cost Accounting | M.Voc in Banking, Stocks and Insurance | Post Degree Diploma in Economics and Global Banking |
| PGDM in Banking Management | ||
| Banking, Financial Services & Insurance | ||
| Short term PGD in Banking | ||
| Advanced Certificate in Banking laws and Loan management |
Which Degree is Best For Banking Career
Students must fulfil specific educational criteria to become a banker in India. They must pass class 12 from a recognised board, securing a minimum aggregate score of 50% or above. While a preference is often given to students from the commerce stream, those from other streams are also eligible. The eligibility requirements for bankers may vary across different banks.Â
- Undergraduate Courses: After completing class 12, aspiring bankers are encouraged to enrol in undergraduate courses from any bachelor’s degree.
- Postgraduate Studies: Although graduates can apply for banker positions, pursuing postgraduate studies is advisable for enhanced career prospects. Opting for advanced courses such as an MBA in Financial Management or an MS in Finance can provide an competitive edge
- Internship Experience: Gaining practical experience through internships greatly benefits aspiring bankers. Internships offer insights into the day-to-day operations of a bank and provide an opportunity to acquire contemporary skills. Internship certificates can also set individuals apart in the competitive job market and increase chances of becoming a banker in India
- Short-term certification course: Taking a short-term certification course is a quick and smart way to learn and get better job chances. These courses are short but give you the specific skills you need. They are good for learning new things quickly, especially if you want to change your job or improve your current one. You can do them even if you’re working or have other things to do because they’re flexible. So, these courses are a fast and useful way to make yourself more skilled and ready for today’s jobs.
This ensures that the curriculum is comprehensive, covering fundamental banking concepts, regulatory frameworks, and practical skills necessary for the role. Aspiring bankers must focus on gaining a robust understanding of core banking principles, including financial products, operations, risk management, and compliance.
Qualifications needed to work in a bank
The presence of private sector banks in India was limited. However, in recent times, there has been a substantial growth of private banks. Foreign private banks like CitiBank, Standard Chartered, Royal Bank of Scotland (RBS), and HSBC have established a significant presence in the financial market. Domestically, major players include Axis, ICICI, HDFC, Kotak Mahindra, Yes Bank, and ING Vysya. ICICI Bank is India’s largest private sector bank and the second largest commercial bank, following SBI.
Private banks in India offer diverse job profiles, and candidates with the requisite qualifications and experience can apply for various positions. The private bank recruitment process typically involves two stages:
- Written Exam: Conducted online, the exam includes questions from areas such as Reasoning, Quantitative Aptitude, English, General Awareness, and Computer Aptitude.
- Interview: Candidates who qualify for the written exam proceed to the interview stage, where they are assessed based on their intelligence and personality.
Also read:Â How To Get a Banking Job After B.Com?
Top Private Bank Programmes in India
Several private banks in India offer distinguished programs to groom and develop aspiring professionals in the banking sector. These programs aim to provide an overall understanding of banking operations, financial services, and customer management. Notable among them are:
1. Postgraduate Certification Course in BFSI by PW Skills
The Online BFSI (Banking, Financial Services & Insurance) course is a comprehensive program offered through online platforms to individuals interested in pursuing a career in the BFSI sector. This course aims to equip participants with a diverse skill set necessary to succeed in various roles within the banking, financial services, and insurance industries. Here are some key aspects of the Online BFSI course:
Duration and Schedule:
- The course lasts three months.
- The schedule is designed to accommodate participants with sessions conducted five days a week.
Curriculum and Skills:
- Covers various topics, including retail banking, banking operations, mutual funds, corporate banking, and fintech.
- Aim to give participants a strong understanding of core banking products and operations.
Certification:
- Completing the course results in a post-graduate certification, validating the acquired skills and knowledge.
Placement Assistance:
- Our course exclusively contains placement assistance for the students, guiding them to get proper job exposure.
- We will also help you prepare your resume and provide you with practice modules, exercises and quizzes to sharpen your knowledge.
2. Axis Bank’s Arise Program
Axis Bank’s Arise Program is designed to recruit talent for key roles within the organization, providing opportunities for graduates and postgraduates from recognized colleges. Successful candidates are offered a good package of INR 9.8 LPA, including Fixed, Variable, and Loan benefits, and are appointed Deputy Manager.Â
The program encompasses various departments:Â
- Information Technology,Â
- Business Intelligence Unit,Â
- Digital Banking and Transformation, Risk,Â
- Audit, Compliance,Â
- Finance and accounts, and Marketing.Â
Placements can occur anywhere in India; candidates should be over 18. The selection process involves a Cognitive Assessment, a Functional Assessment, and an Elevator Pitch.
3. Axis Bank Young Bankers Program
The Axis Bank Young Bankers Program, conducted in collaboration with Manipal Global Education in Bangalore and NIIT University in Neerana, offers young graduates an opportunity to pursue a career in banking. The program adopts a Learn-Earn-Grow model, identifying and nurturing young bankers by imparting essential banking knowledge and skills. Successful program completion earns participants a Post Graduate Diploma in Banking Services and opens up opportunities for them to join Axis Bank.Â
4. NIIT partnership
The NIIT partnership ensures a structured selection process and program framework aligned with Axis Bank’s requirements, providing participants with knowledge, skills, and earning opportunities in a full-time residential setting.
ICICI Manipal Probationary Officers Programme
The ICICI Manipal Probationary Officers Programme specifically focused on Sales and Relationship Management, is an initiative by ICICI Bank in partnership with Manipal Global Education Services. Eligibility criteria for the program include a graduation or engineering degree from any stream with a minimum of 55 percent. Candidates should be below 27 years of age to become a banker in India. The ICICI Bank Probationary Officer selection process involves an Online Aptitude Test and an Online Personal Interview.
Also read:Â 5 Employee Benefits You Get At ICICI BankÂ
Skills Required for Banker in India
- Financial Knowledge
- Analytical Skills
- Communication Skills
- Problem-solving skills
- Time Management
- Adaptability
- Teamwork
- Multi-tasking skills
- Attention to Detail
Different Types of Banker
Before moving into the specific roles and responsibilities, it is essential to understand the diverse types of bankers, each catering to different aspects of the financial sector.
These professionals play crucial roles in various banking functions, contributing to the overall functioning and stability of financial institutions. Here are some key categories of bankers:
Commercial Bankers
Commercial bankers focus on providing financial services to corporate and small-business clients within commercial banks. While adhering to a 40-hour work schedule, they also engage in activities outside regular business hours to promote the bank. Their responsibilities include building relationships with business clients, facilitating loans and financing, guiding companies in determining financial goals, managing assets, offering banking services such as insurance or foreign exchange, and assisting with employee retirement accounts.
Investment Banker
Investment bankers function as corporate financial advisors, primarily within investment banks. Their roles often demand long hours, up to 100 hours per week. Daily activities involve assisting companies in raising funds for operations, helping young companies go public, managing mergers and acquisitions, underwriting deals during capital market financing, and aiding corporate clients in raising capital through private placements rather than traditional stock or bond markets.
Personal Banker
A personal banker specializes in addressing individual clients’ financial needs within retail banks. Operating during regular 40-hour work weeks, they assist customers in opening new accounts, tailor accounts to specific needs, promote ancillary products like overdraft options, sell conservative investment products, help secure mortgages and loans, and offer advice on college saving plans.
Top Recruiting Banking Companies
- IDFC Bank
- HDFC Bank
- HSBC Bank
- Standard Chartered Bank
Also read:Â Exploring Career Paths: Job Opportunities in Private Banks
FAQs
How can I become a banker?
Bankers typically hold at least a bachelor's degree.
What is the recommended course for becoming a banker?
Banking offers a range of courses, including BCom/BBA in Banking and Finance, MBA, as well as diploma and certification programs.
What courses are available for aspiring bankers after 12th grade?
Numerous courses are available for students aspiring to become bankers in India. Some of the top choices include BCom, BBA, Bachelor in Banking and Finance/Economics, MCom, and MBA.
