Banking sector is one of the biggest recruiting sectors in the recent years as there are plenty of banks in the country and with an expansion in sight, the sector requires a number of skilled personnel to manage banking services in the years to come. The two most sought after recruitment process in the banking sector are SBI PO and IBPS PO. Both these recruitment examinations take place every year and a lot of candidates sit for these in order to get selected as an executive in a public sector bank. We shall look at the details of both of these jobs so that candidates can get an idea of what lies ahead once they secure the job of a banker.
SBI PO: A Sneak Peek
The largest commercial bank of the country comes out with recruitment advertisement every year to carry out recruitment in the officer cadre across the branches in the country. This is a dream job for most of the banking aspirants because of a decent salary package, promotion policy and the social status that comes with it:
• Salary and Allowances: SBI PO gets four more increments in the initial stage compared to any other public sector bank and that is why, the salary is more than any other PSB. Along with that, the allowances cover almost everything starting from housing, furniture, medical, conveyance, book grant, briefcase grant among others.
• Job Profile: As a probationary officer in SBI, you are allotted to either the operations or credit department in the initial days of your career. Branch banking experience is the most exciting thing in SBI because of its large and diverse class of customers. You get to see a long queue all the time in front of you even before the banking hours begin in a proper note. So, no time to relax. You have to get into the groove and pass receipts, payments, cheques, fund transfers, authorize account opening, fixed deposit etc. As credit officer, you have to disburse new loans as well as take care of the disbursed ones in order to avoid them becoming NPA.
• Promotion Policy: SBI offers one of the best promotion policies in the country and within two years of your service, you can get promoted to the next scale if you pass the departmental examination. After that, if you are a performer, the bank takes care of your ambitions without you having to worry about that. And it is not impossible to retire even as the Chairman of the most prestigious bank of the country ( e.g. Arundhati Bhattacharya).
• Posting: As SBI has the largest network of branches in the country, your posting may be anywhere in the country and that includes remote villages as well. Hence, be prepared to get posted at any nook or corner of the country.
• Work Pressure: This comes as an occupational hazard with the job as you are responsible for the profit of your branch. Get ready to face the heat when you were not able to get that one loan proposal done or you could not get enough CASA deposit to please your bosses. However, you get incentives for good work as well.
• Social Status: If you want to be a banker, this is the job you are looking for. As an officer of the largest commercial bank in the country, you get immense social status compared to any officer in other commercial bank of the country.
IBPS PO: Job Profile in Detail
IBPS PO is one of the biggest recruitment drives in the banking sector that takes place every year. It is carried out to recruit candidates in the public sector banks of the country excluding SBI. Every year, a lot of aspiring bankers sit for this examination and get selected in the PSBs of the country according to the merit and their preference exercised at the time of applying for the job. So, what is life as an officer of a PSB?
• Salary and Allowances: As an officer of a PSB in the country, you get a decent salary to live a decent life. Obviously, salary is less than that of a SBI Officer and allowances are also not as good as SBI (allowances differ from bank to bank). However, you get mostly similar allowances in all the banks.
• Job Profile: The job profile is similar to any other bank job as you have to either oversee the general banking department of the bank or the credit department of the bank. As a general banking officer, you have to see the receipts, payments, fund transfers, account openings, fixed deposit etc whereas as a credit officer, your main job is to increase the loan portfolio of your branch and see that your branch is not on the top of the list when it comes to NPA .
• Promotion Policy: Promotion Policy is almost the same for all the banks since they conform to the rule of the government regarding promotions and transfers. So, you have affair chance of climbing the ladder if you are good enough to perform as well as pass the departmental examinations held from time to time.
• Postings: Mostly, every public sector bank has the most number of branches in a particular region of the country but that does not mean you will get posted in that particular region only. Basically, you are liable to be posted anywhere in India and exactly the same thing happens in the job of a banker.
• Work Pressure: This is one advantage of joining in any other PSB except SBI because work pressure and stress is any day less than that of SBI. So, if you have your eyes set on other jobs and banking is just a stepping stone for you, IBPS PO is better for you. However, if you are posted in a branch with heavy workload (and it is not impossible), this advantage is not there, obviously.
• Social Status: As an officer of a public sector bank, you are socially well placed and get a lot of respect as well.
Both IBPS PO and SBI PO are good jobs in their own terms and conditions and you cannot say that this is better than the other. It depends on the person who is going to do the job because every individual has different expectations his job. So, if you are cut out to be a banker, go for SBI. But if you are going to leave the job or you don’t want much stress, IBPS PO is your bet. All the best!!