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Apr 19

Why Do Bank Jobs Have High Demand In India

Bank Jobs have today turned as most sought after career options in India; these jobs have turned not only popular among fresh graduates, but also among the experienced professionals. The main reason for this can be placed to the variety of jobs that banks offer not only for those that have specialization in finance and commerce, but for those in other streams also.

It is significant to note that fresh graduates join banks as management trainees / probationary officers and are then trained in all aspects of banking to gain various skills with their pay sometimes exceeding those of other officers in banks.

In addition the popularity of bank job openings arise out of their benefit of offering not just good remuneration, but also job security coupled with other additional benefits like petrol allowance, house rent allowance, education allowance, utility allowance, marriage grant, prolonged illness allowance, medical allowance and retirement benefits like provident fund, gratuity and pension.

It is again significant to note that the basic pay in most banks 10 to 12 percent yearly, with moving to higher cadres assuring you of higher and higher benefits that include salary and allowances. Further perks to employees in higher cadres could include more benefits like car, golden shake hand in case of early retirement and memberships to prestigious clubs.

Popularity of banking jobs also arise out of being able to maintain a work life balance; paid vacations and trips and hardship allowance in case of transfer to places with extreme climatic conditions form the basis of some of the banks allowances. All this is coupled with India’s banking sector generating more and more jobs to keep up with the economic growth rate of eight to ten percent yearly.

The growth and safety of the banking sector that has increased the popularity of bank jobs has been generated with the centralized control of all public, private and multinational banks by the Reserve Bank of India. This regulation and centralized control has contributed to banks being more of profit generating and stable organizations.

Banking career is definitely going to attract more and more fresh and experienced employees with their offering many other services like home, personal and vehicle loans, stock and mutual funds investments, credit cards, health and life insurance, forex and other retail banking services; more services meaning more variety of jobs for one and all.

Jobs in Banks are popular, however getting recruited involves taking written tests and interviews; written tests test your knowledge of English language, numeric ability, reasoning ability and general knowledge, while interview tests your communication, analytical and managerial skills, with computer skills being important today. Planning out the preparation well with constant practice and taking of mock tests could make you efficient enough to join the popular bank jobs.

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