“Banking jobs are well-sought jobs in our country. Getting a job in a private bank has a certain procedure to follow. Read the complete article to know more.”
Job in Private Bank: Private banking is a financial service which is provided by an individual or a general partner with a limited partner. Unlike public sector banks, this private bank provides financial services with a more personalised approach.
Start your career in BFSI with the PW Skills BFSI Course. The course will start on December 18, 2023.
Getting into private banks can be rewarding, with a good salary scope and perks. In private banking, candidates need to obtain qualifications for different posts such as private banker, finance advisor, bank teller, business development manager, relationship manager, etc. Read the complete article to learn how to get a job in a private bank.
How to Get a Job in Private Bank
A job in a private bank depends on your qualifications and the hiring process. Let us check the major steps to enter into a private banking job.
1. Graduation Degree
The minimum qualification to get a good position in a private bank job is to get a graduation degree. Most of the private banks will ask for your bachelor’s degree. However, a bachelor’s degree in finance, business, or economics is preferred for higher positions. For entry-level jobs, however, there are no such boundaries.
2. Higher Education in Banking
Candidates who want to ensure a good position and high salary at a private bank must pursue additional courses with certification in related fields. This can help you get a high-paying job in a private bank.
3. Be active on Job Portals
Most of the private banking job requirements are posted on job portals. Candidates must filter the recent job requirements and check the job requirements carefully. If you satisfy the eligibility criteria, then apply for it.
4. Gain Experience
You must get some real-time experience by doing an internship or solving real-time banking-related problems. You can look for an internship in banking, wealth management, investment or related fields. This will also help you get practical experience, which will help you ahead.
5. Updated Resume
Keep your resume updated and mention all the major skills, real-time internship opportunities, educational qualifications, achievements, etc. You must try to mention your understanding of wealth management, financial market and client relationship management. You must create a smart resume having all the details required by the recruiters. Also, keep your LinkedIn profile updated.
6. Interview Preparation
Interviews play a major role in getting a bank job in a private bank. Most of the private sector banks are looking for candidates with good skill sets who can contribute to the well-being of the bank. Interview candidates are assessed on their confidence level, knowledge (Related to banking sectors), etc. Candidates must be able to satisfy the recruiters so that they can contribute quality work to the positions offered to them.
Also read: Top 15 Bank Interview Questions and Answers
Job Profiles in Private Banks
Private Banks generally offer a wide range of jobs based on the skills and qualifications of candidates. Check some of the important job profiles in private banks and their pay scale below.
| Job Profiles in a Private Bank | |||
| Job Role | Responsibilities | Avg. Salary Range | Career Prospects |
| Business Correspondent | Rural financial services, account management. | ₹2.2 – ₹4.5 lakhs | Growth within the BFSI sector. |
| Debt Recovery Agent | Collecting debts, negotiations, legal actions. | ₹1.9 – ₹2.4 lakhs | Progression to collection manager or credit analyst. |
| Credit Processing Assoc. | Loan assessments, disbursements, credit evaluation. | ₹3.1 – ₹6 lakhs | Advancement to credit analyst, loan officer, or underwriter. |
| Microfinance Executive | Providing small loans, credit assessments. | ₹1.5 – ₹4.7 lakhs | Opportunities in management or related fields. |
| Insurance Agent | Policy sales, client advisory. | Commission-based | Potential commissions, managerial roles. |
| Mutual Fund Agent | Mutual fund investments, client guidance. | Commission-based | Growing income, transition to financial advisory. |
| Accounts Executive/Asst. | Financial records, reporting, compliance. | ₹1.1 – ₹4.8 lakhs | Progression to accountant, finance manager. |
Also read: BFSI Certification – Can It Give Your Private Banking Career a Jump Start?
Certification courses to get a Job in Private Bank
There are many good online courses which provide good study materials with certification. Check below to learn some good courses for private banks.
| Course For Job in Private Bank |
| Finance or Banking Degrees |
| Chartered Financial Analyst (CFA) |
| Certified Financial Planner (CFP) |
| Investment Management Certificate (IMC) |
| Chartered Wealth Manager (CWM) |
| Private Banking Courses |
| Risk Management Courses |
| Estate Planning Courses |
| Financial Modeling Courses |
| Soft Skills and Communication Courses |
| Regulatory Compliance Courses |
| Technology and Fintech Courses |
We are soon launching a full-fledged course to get your dream job in a BFSI sector with a lot of opportunities and decent pay. Keep checking PW Skills courses for more updates.
How to Get a Job in Private Banking For Freshers
As a fresher, getting a job in a private bank can provide you with good opportunities and real time experience. However, check some more tips to get a job in a private bank, especially for recent graduates.
- First, create a smart resume, work on your LinkedIn and keep it updated.
- Now, send your resume to top private banks and also register on their portals.
- Keep visiting the websites of top private banks, especially their career section to know about the latest job openings. You can then apply for any opening based on your preference and experience.
- There are many job portals to help you find a decent paying job in a private bank, such as Naukri, indeed, etc.
- There are many online study materials to help you prepare for the interview and aptitude round. Take the reference from it during your preparation.
Also read: Why are Private Banks ideal to start your Banking Career?
FAQs
How can I work at a private bank?
If you want to get a job in a private bank then you must have a relevant educational background, courses with certifications, skills and other qualifications. Check out the article to know more.
Can a 12th pass student apply for HDFC Bank?
Yes, candidates who are 12th pass can search for a relevant job position at HDFC banks easily. Search for the relevant job positions which require only a 12th pass certificate. You can search on various job portals like Naukri, indeed, etc.
Is a private bank job good or bad?
Private bank jobs provide good salaries for entry level jobs. It can be a good exposure for recent graduates and freshers with many opportunities and security in the job roles.
