Career in Banking

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:

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.

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

Personality Traits

• Excellent interpersonal skills
• Leadership skills
• Team-Worker
• Ability to work under pressure
• Patient
• Risk taker
• High level of integrity

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.

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 / Diplomas 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

 
Prospects

• Private Sector & Foreign Banks, 
• Best Companies include – HDFC Bank, ICICI Bank, Citibank, HSBC, Deutsche Bank, Standard Chartered Bank

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.

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

Personality Traits

• Excellent interpersonal skills
• Innovative
• Sound Financial Skills
• Leadership skills
• Ability to work under pressure
• Risk taker
• High level of integrity

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. 

Study Routes 

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

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.

Source: Compass One

Date: 2nd Dec., 2009

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