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The demand for a job with a standard pays and stability is on the rise. These days, banking sector has a large number of openings for various posts. The findings by India Skill Report 2019, shows that the BFSI (Banking, Financial Services and Insurance) sector hired the most in the years 2018 and 2019. Having said that, should one choose a job in banking sector? What other benefits can you reap from joining this sector? Here are the top 10 reasons to choose banking as a career:
1. Attractive pay
One of the most lucrative factors of any job is its pay scale and guess what the most attractive feature of a job in banking sector is? Yes, you got it right, salary!! The salary offered by this sector is higher than that offered by other entry-level jobs. The pay scale of a probationary officer is about 4-4.5 lakhs per annum. Also, added benefits like minimum rate of interest on loans, medical benefits etc makes it all the more pleasing.
2. Stable job
Another reason why the demand for jobs in banking sector is on the high is because of the stability and security it offers. Once you are part of this sector, your job security is guaranteed until you are of age 60. One can get promotions via internal exams and based on seniority. The chances of getting fired are very small, unless you give them a solid reason to.
3. Ample opportunity to grow
A job in bank provides you with immense opportunity to grow. Your career can span from a Probationary Officer to a General Manager before you turn 60. One can start his career from a lower post and keep going up with consistent effort and will power.
4. A job for all
There is a job in banking sector for everyone. All you need is a degree. Be it any stream, anyone can apply for a vacancy in banks as no special skill is required. It is the right career for a person who is willing to put in some effort to learn, accept challenges and for those who like to meet people from various educational background and culture.
5. Boosts soft skills
Banking jobs demand that you to make use of your skills like communication skills, inter personal skills, strategic planning and thinking etc thereby polishing the skills or developing them. Most of the banks offer training and various courses to improve your knowledge and skills. These skills being standard for all kinds of job come handy even if you switch careers.
6. A sense of fulfillment
This is a characteristic that changes from one person to the other. But it can be agreed upon that one gains satisfaction by helping others and banking sector ensures the same. As the job involves you helping people regarding their financial matters, it can be assumed that banking jobs offer job satisfaction to the workers.
7. No recession effects
Needless to say, banks are the backbone of a developing country like India. Hence the ones in the banking sector are the least affected by recession or other monetary issues that affect our country.
8. Leaves and holidays
Banks give a good number of holidays than the private sector. This helps you to spend more time with your family, thereby maintaining a good work-life balance. Also, the benefits like paid leave, paid vacation, sick leave and vacation are provided to the workers which makes a career in banking sector more attractive.
9. Fixed working hours
The fixed job timings in this sector ensures that you get enough time to spend with your loved ones.
10. High regard and extensive travelling
Any job in the banking sector is a one that is treated with high regard. Also, jobs in bank sector requires settling in different states of the country. Hence banking is the best career for a person who enjoys the diversity that our country offers.
The demand for a job in the banking sector is on the high due to the reasons listed above. With the increasing demand comes the cut throat competitiveness to grab the job. If you are up to the challenge, then banking sector is one of the best career choices you can make.