Banking Sector has registered progressive and impressive annual growth during the past decade or more. During this period a large number of employees have since retired and during the next two or more years most of the senior personnel will be retiring from Bank services. Apart from this Banks are expanding their Branches. This has paved way for regular recruitments & employment by the Banks. In the tumultuous financial breakdown of the entire world economy the Indian banking sector stood firmly and unaffected, raising its wings higher. With advancement of digital equipment’s 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. With the Banks adopting Core Banking Solution, Internet Banking and various other Technological Innovations, need for young and enthusiastic employees is felt. 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 v/s Banking Career
During the past decade thousands of Engineering Colleges, private as well as Govt., have offered various Engineering Courses to lakhs of students every year. In many colleges several students have got good jobs through Campus Placements in various companies with a lucrative pay package, but this was not the end. Due to less no. of Engineering Jobs and a large no. of Engineering students having passed every year the number of jobless Engineers is increasing year on year basis which is further adding up on account of few losing their jobs on some pretext or the other, in this era of Global Meltdown and recession. On the Contrary Banking Sector have opened several vacancies in officer and clerical posts, thus paving way for the job aspirants.
Because of this the Engineering Students have since started preparing for Banking posts. The students belonging to Computer Science(CSE), IT and Electronics & Communication(ECE)
Benefits of Banking Sector over Engineering Sector
The Banking sector provides the following upper edge over Engineering:
- Job Security
- Better Pay Package
- PF, Gratuity & Pension (New Pension Scheme),
- and many other financial facilities from the bank
- Better Leave facilities, LFC /Perks etc
- Better Promotion facilities. The candidates have chances to rise to a higher level up to General Manager/ED/CMD level provided they acquire adequate skills/knowledge and experience. The payment and promotion structure in banking is another plus point.
- As compared to private Engineering Cos. the stress level in Banks is less, However since the Banks deal in Finance the aspect of accountability is higher.
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