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CAREER IN BANKING

Posted 10-23-2009 : by jharna bhatnagar
Category : Business and Professional Services
Subcategory : SEO

Banking professionals handle clients money - In simplistic terms, they help individuals & corporates with their investments, loans and all other money related issues.

Broadly speaking, banking can be divided into two main categories:

1. Commercial Banking

That banking which deals with individuals and corporates to meet their everyday banking requirements such as cash deposits / withdrawals, investment advisory, deposits, loans (housing, car etc.), credit cards, remittances (payments, Demand drafts etc.), lockers etc.

Ø The Job

Retail / Consumer Banking

· Dealing with individual clients banking requirements

· Business Development and marketing for new clients

· Ensuring smooth delivery of all banking products to the client

· Staying updated and aware of changes in banks products & banking regulations

· Resolving customer issues and complaints

· Doing a credit risk analysis of clients if bank is giving loans.

Corporate Banking

· Dealing with corporate clients banking requirements

· Analysing and continuously monitoring company’s performance (balance sheets, P&L etc)

· Business Development and marketing to existing & new corporates

· Structuring new products and ideas to innovatively meet clients requirements

· Ensuring smooth delivery of all banking products to the client

· Staying updated and aware of changes in banks products & banking regulations

· Resolving customer issues and complaints

Ø Personality Traits

· Excellent interpersonal skills

· Leadership skills

· Team-Worker

· Ability to work under pressure

· Patient

· Risk taker

· High level of integrity

Ø Salaries

· Assistant Manager - Starting Position. Approx INR 2 Lacs per annum after a UG degree & INR 4-6 lacs after a PG degree.

· Head – Corporate / Retail Banking – Report to CEO. Approx. INR 50 – 70 lacs per annum.

Ø Study Routes

Ideally the job requires a postgraduate degree or diploma in business administration (MBA) / Economics / commerce or a Chartered Accountancy graduate (PREFERRED OPTION).

Sample PG Degrees / Diploma in Business Administration –

· Indian Institute of Management Studies (IIM), Ahmedabad, Calcutta, Bangalore, Lucknow, Khozikhone,

· FMS, New Delhi

· XLRI, Jamshedpur

· Jamnalal Bajaj (JBIMS), Mumbai

· SP Jain, Mumbai

· Narsee Monjee Institute of Management Studies, Mumbai

· Symbiosis, Pune

· XIM, Bhubhaneshwar

· MDI, Gurgaon

· IMT, Ghaziabad

· IMI, New Delhi

· IIFT, New Delhi

After Graduation – A degree in subjects such as a BBA, economics, or commerce will also give you entry into a bank. However growth prospects are limited and a PG degree is necessary for timely promotions.

Sample BBA Degree Colleges –

· IIPM – present in New Delhi, Chennai, Mumbai, Hyderabad, Calcutta, Bangalore

· Wigan & Leigh – present in New Delhi, Mumbai

· IILM – New Delhi, Gurgaon

· Rai University

· Amity

Ø Prospects

· Private Sector & Foreign Banks,

· Best Companies include – HDFC Bank, ICICI Bank, Citibank, HSBC, Deutsche Bank, Standard Chartered Bank

2. Investment Banking

Bankers who deal with corporates relating to specialized & structured products such as Capital markets, Foreign Exchange Dealing, Mergers & Acquisitions & large sized offshore / domestically structured loans.

Ø The Job

· Dealing with corporate clients special need based banking requirements

· Business Development and marketing to existing & new corporates

· Structuring new products and innovative ideas to innovatively meet clients requirements

· Staying extremely updated and aware of changes in the economic environment and governemnt regulations

· Liasioning with government bodies and offshore points to provide innovative solutions

Ø Personality Traits

· Excellent interpersonal skills

· Innovative

· Sound Financial Skills

· Leadership skills

· Ability to work under pressure

· Risk taker

· High level of integrity

Ø Salaries

Very large variable pay option (performance based option) in the salary package.

· Assistant Manager - Starting Position. INR 6 - 10 lacs after a PG degree.

· Head – Product Line – Report to Investment Banking Head. Approx. INR 70 – 80 lacs per annum.

Ø Study Routes

Same as above in Commercial Banking. You cannot join without a PG Degree.

Ø Prospects

· Private Sector & Foreign Banks, Investment Banks

· Best Companies include – Citibank, HSBC, Standard Chartered Bank, JM Morgan Stanley, Merrill Lynch, Credit Suisse First Boston (CSFB), Leighman Brothers.

Author's Name : jharna bhatnagar

Author's Business Name : info edge