Banking sector in India has shown promise for the last one or two decade and has registered growth in its annual turnover with every passing year. In the tumultuous financial breakdown of the entire world economy the Indian banking sector remains stood and unaffected, raising its wings higher. The banking sector is India is quite old and has rejuvenated itself with the change in banking system in the overall countrywide scenario. With advancement of digital equipments and connectivity through the World Wide Web, banking has become a global phenomenon. It has not been limited to the mere transaction of money at the cash counter or keeping a ledger of accounts, but has travelled a long path since its inception. The CBS banking and inclusion of internet banking has added dimensions to banking. The scopes for people, who are working and studying in various backgrounds, are opening up. The job security and good pay structure is attracting many private sector enthusiasts to join the Indian banking sector and make a better career than their stressful private jobs.
Engineering Career Vs Banking Professional
Thousands of engineering colleges, both private and public, are offering engineering courses to lakhs of students every year. These students are getting placed in well accomplished companies as well. But due to the huge number of passing students every year, there are not enough jobs available in the Indian market for such engineers. The additional pressure of losing their job in a private sector is another bug to these budding engineers. The financial meltdown and global financial crunch often takes a heavy hand to these multinational private sector companies and results in huge employment sacking. Many Engineering students are thus preparing themselves up for various banking posts such as IT, Managerial and Officer Posts. Candidates who have undergone Computer Science/IT/Communication engage themselves for IT officer posts offered by the banks. With background of Computer Science Engineering and IT the candidates have upper hand in various officer and managerial posts in the banks as well. Due to the technological advancement in the banking sector, these engineering candidates are being welcomed by the banks. They are adding colors to the workforce with their technical skills and knowledge regarding the banks.
Benefits over Engineering in Banking Sector
Apart from the job security and good career prospect, the candidates joining the banking sector gets a lot of other facilities and emoluments. The candidates along with their salaries are provided with PF, Gratuity, Pension, loan at lowest interest rates and many other financial facilities from the bank. The candidates can also enjoy their lives with the provided holidays and leaves by the banks in a particular year. The work stress and work hours are both ways more less than in any private engineering job. The payment and promotion structure in banking is another plus point. Within 3 to 4 years of your service as an officer in a bank could result in you becoming the Branch Manager of a particular bank. Though will, intent and hard work the candidates can even rise up through the ladder and become Regional or General Manager of the banks they are working for.