Careers in Banking and Finance
A number of banks and financial institutions entered the Indian market in recent years. This sector now requires a lot of technical and administrative staff to further expand their operations. Plenty of jobs are available and the institutions are outdoing the packages they offer in a bid to woo the best candidates to their firm. The banking sector requires people with every kind of skill. They need people who can sell, people who have operational, managerial and IT skills.
A retail banker sells banking products, such as deposits, accounts, mutual funds, loans etc. You should have excellent interpersonal skills, a presentable personality, good communications skills and patience to make a mark in this field. A degree in any discipline is enough for a job as a marketing executive at the entry-level and middle level positions.
Private banking is also known as wealth management. It caters to individuals, funds or corporate houses that can invest at least one crore rupees. MBAs with a smart personality and excellent marketing skills can enter this sector.
Corporate banking caters to the banking needs of corporate houses. This involves taking charge of the trade (import and export) related aspects, funding needs etc. Good marketing skills along with people management skills are a must. An MBA or a background in chartered accountancy is the basic requirement to enter this filed.
Micro-banking is all about micro-credit, micro-savings and micro-insurance. Clients are usually farmers and those employed in the rural areas. This sector has witnessed rapid growth in recent years with many banks in India launching their own microfinance divisions. You must have a drive for social work and an MBA, preferably in finance.
Investment banking offers the most coveted jobs in banking. Candidates from top tier management institutions or a chartered accountancy background can enter this sector. Investment banking offers excellent monetary benefits. On the flip side, you have to work long hours. The job of an investment banker is to raise funds for corporations and organizations through IPOs or mergers.