The number of candidates interested to join the banking industry is on the surge for the last decade. This growth is the result of booming banking industry in the country with ever growing number of banks and branches across the nation. In a developing economy like India, banking sector had remained profitable even when the entire world was fighting hard with recession. The banking industry in India has the shock proof approach towards its financial accessibility that makes it a dependable industry. Due to the safety and security of jobs many aspiring job seeking candidates are moving towards public sector banks. The lack of suitable job opportunities in fields like engineering and management has also resulted in the growth of number of candidates applying for the banking jobs. Banks are attracting high end candidates towards its jobs through the competitive entry-level salaries and pay perks attached with the services. State Bank of India is the top most public sector bank in India and number of interested candidates to join the bank has grown manifold in the last few years.
Reasons for People Choosing SBI PO
- In terms of market revenue and status, there is no match for SBI in banking sector in the country. Job security and high pay perks and fringe benefits are the high points of SBI.
- The ongoing economic slowdown in the global market has resulted in job cuts by many International organizations in the last few years.
The growth in the number of candidates applying for the probationary officer post for SBI would clear the fact easily. In 2012, when SBI notified for recruitment in 1000 PO posts, almost 5.1 lakh candidates took up the examination. After a year, when SBI conducted the PO exams for 1500 posts, whopping 1.7 million candidates took part in the examination registering a massive inclusion of 12 lakh candidates in a year. In 2014, the numbers were believed to have touched 30 lakh for over 1700 posts. It is expected that the numbers would rise in this year’s recruitment as well; where SBI has invited candidates for 2200 PO posts across the nation.
Benefits of PO Post in SBI
- Opportunity of Growth: The most pertinent factor of the PO post in SBI is its promise of growth. After the compulsory two year probation period, the candidates would be allowed to take up responsibility as Assistant Branch Manager in SBI branches across the country. Within 4 to 5 years of their service, the candidates can rise up to the level of Branch Manager. Rising high on the ladder becomes easier if a candidate joins as PO in SBI and the steep growth waits for him/her, depending on their performance.
- Safety and Security of Job: In the tumultuous financial market, the first priority among the candidates seeking for job is ‘job security’. The public sector banking or specifically SBI is one such place where the candidates would not have to worry about sacking due to their inability to perform certain task at the bank. It offers the mental peace to the candidates and helps them concentrate on their job.
- High Salary structure with perks: The SBI PO post is the most paid banking PO job among all the banks in the entire country, including the private ones. The salary of the PO in SBI ranges from 9-12 lakh per annum, surpassing the topmost private bank miles away. Along with the high salary structure the pay perks, benefits, DA, HRA, medical benefits and other conveyance is quite high in SBI.
- Social Status and position: The candidates working in the SBI as Probationary Officer enjoys a certain level of social acceptance and status from the rungs of their lives. The people in and around the SBI PO along with in their social circle, view SBI as the esteemed organization, giving value to the position. It provides the utmost respect from the people around, giving satisfaction in the job.
The Probationary Officer post has been a lucrative post among the graduates in the country. Due to the high number of graduate candidates passing out every year from the higher education institutes and drying up of opportunities in various fields like engineering and management, the banking industry recruitment has seen a lot of applicants from the last few years. The social security, better pay package and a secure job profile is what attracts people towards SBI to join as Probationary Officers.