Banking has come up as a booming industry in the last one decade or so in India, providing thousands of job opportunities to aspiring and young candidates wiling to join the industry. While the entire world has hit bad during the recession in the year 2008 and the World Bank was suffering through the great depression, the Indian banking sector stood firm and held its head high because of the structural measures it had taken to curb the recession. The effect was not felt into the Indian banking sector and the growth was more upwards for the sector. The stability and growth rate of the industry has lured many candidates from different streams towards its ambit. Many candidates after finishing their college are willing to join the banking sector, as it allows young candidates to join at different posts, just after completing their graduation degree. The increasing number of interested applicants in the sector has resulted into more severe competition and has increased the level of examinations.
Engineering Students and banking jobs
The Engineering students are not different from the lot of students who want to shift their bases to various banking jobs. The increasing number of engineering institutes in the country has resulted into huge number of students taking up engineering as their study options. Though, after completion of the courses, most of the colleges are suffering to provide adequate placement opportunities to these students. Many of them are not getting placed to any of the companies at all. Mostly, the engineers get placed in the IT industry or the manufacturing industry in the country. The students pass outs of reputed institutes like IITs, NITs and other prestigious colleges are offered good job opportunities, but the hosts of other private institute students are failing to even grab a decent placement from their colleges. Most of them are taking jobs which require lesser educational qualification. This gap of increasing number of engineering students and insecurity of engineering jobs in the country has resulted into candidates taking other choices that are available for them. Banking sector has come with a great opportunity for such students. Not only the bank clerk or Probationary officer posts, these engineering candidates are also applying for the Specialist officers posts. Most of the engineering students are applying for the IT Officer and other relevant specialist officer posts in the banking sector. Many are joining the third party companies that are serving the information technology needs of the banking sector. Due to the knowledge of their trade, the engineers are getting preferred in these specialist officer posts during their interviews.
Positives of Bank Job for Engineers
The engineering students who have not been able to find the job of their stature or liking are trying out for bank jobs in offer. The banking jobs are providing stable job opportunities for these candidates with considerable pay package. Though, the engineering students might have hoped for a way better salary than the offered one in the banking sector while they were undergoing the engineering degree, banking provides them the necessary job stability and option for good career growth. Many candidates are even shifting base from the present IT Company that they are working after completing their engineering courses, to the banking sector. The growth in the banking sector has also encouraged many engineering students to come out and take the opportunity to join a more secure and growth oriented industry. The engineers can also use their skills for the betterment of the banking sector and can be handy in tricky technical situations in the bank. Most of the engineering graduates, who are looking for a job, prefer the banking sector as their work field. The trend has started to shift in the last five years or so, due to the huge gap between the passing out engineering students and jobs available in the market.
The banking sector job has been an instrumental sector in the last few years in terms of providing job opportunities to the youth of the country. It has interested the engineering candidates as well, who are suffering to land into their preferable job portfolios, due to the significant lack of job opportunities in the Indian market. Most of the engineering candidates are joining the banking industry due to the growth of the industry and the promise of job stability.