The mythical overlay around the banking exams would make you believe that it’s mostly people from commerce and MBA background who appear for these exams. The truth however lies somewhere between “not quite” to “not true.” The statistics showing the sheer number of engineers appearing for banking exams debunks the myth. The number of registrations from engineering, commerce and MBA background has changed over the last decade. Most of the engineers readily opt for banking jobs right after their engineering.
The major reason behind the surge of applications from engineering background is majorly due to job security and salary allowances along with perks in the banking sector. Students opt for SBI PO after their graduation in order to resolve their dilemma of what to do next?
The career in banking sectors is not only growth oriented but is also secured and respectable. The candidates with an Engineering degree are eligible for the bank exam and certain candidates from specific streams are also eligible for the post of Specialist Officers (SO) such as IT Officer. (Candidates from Computer, Information technology or Electronics and communication departments are eligible for the post of IT Officer).
Candidates are eligible for this post after the final SBI PO Result declaration. Candidates have to clear the prelims, mains and interview to be recruited to the applied post. SBI PO result is announced separately for each stage of the exam.
Banking is the first step towards understanding the global economy, discovering the challenges of marketplace and identifying themselves with career opportunities within the country and abroad. Growth in the industry is based completely on the skills of the employee. Crack exam and get the increment!
To make a career in banking, you must be good at analysing numbers. Mathematics and Numerical is every engineer’s forte! Choosing banking as a career is a wise option for those interested in growing fast in their careers and those who desire to get exposures to the world market at an early stage.
Boons and Banes of Joining a Bank through SBI PO
Every job has its advantages and disadvantages. If you look forward to excellent scope and growth in your career, you must be aware of both boons and banes of the opportunities. Here are few positives and negatives of the job through SBI PO:
- Better earning and perks: Basic salary of the recruited employee has been increased to 23400 (more than in hand of Accenture, Infosys, TCS) which accounts to around 32k in hand. The perks include Petrol allowance, newspaper allowance for which one gets 5k per month.
- Leased accommodation: All the candidates who join as an officer post get a solution to major stress of house rent. In Mumbai, SBI pays you around 8k- 30k if you are posted in villages as a compensation for accommodation.
- Deputation: Noida, Gurgaon based IT companies specially HCL, would never consider your travel expenses as a concern. But banks pay extra allowances per day along with the lodging and mess expenses if you are sent on deputation
- Growth: It is easy to grow in a bank if you are intellectual. Clear the exams for different posts and grow.
- Entering into Finance: If your ultimate goal is to do MBA, Bank/Finance experience would count a lot.
- Job security: You can never get fired in a bank! As per the government stakes, the job at a bank is a secure and independent job.
- The layoff in banking jobs have become quite frequent due to fluctuating stock markets recently
- Recession brought in dampening of enthusiasm in several banking organizations.
- You require to develop enormous expertise in financial matters if you belong to the engineering background.
How to Prepare for SBI PO after Engineering?
Though engineers have high chances of obtaining a good SBI PO Result but we must not blindly follow this statement. Due to huge competition and limited number of vacancies, the struggle to achieve their goal is high. Dedication and focus are the keys to clear banking exams such as SBI PO:
- Start the preparation by knowing the SBI PO Syllabus and Pattern and make a proper study strategy along with a time table.
- After studying engineering, students build a good base for the numerical section, still the competition should not be ignored and every topic should be prepared well.
- The newspapers and magazines also play a vital role while preparing for the general awareness section. So, read standard newspapers and magazines regularly to keep the current affairs up-to-date.
- This habit also helps for the English Language preparation since the vocabulary and reading speed increases significantly.
- Practice the reasoning section regularly since the variation of questions from this section is notable.
- Prepare well for the specialized subject (if any) since that would also be helpful for the interview and clear your grammar concepts along with concentrating on vocabulary.
- The interview (for the particular exams) is also a very crucial part and preparation should be taken for it as well. Though there is no proper rule for the interview, some knowledge about the economy and banks should be prepared well and basic etiquette should be taken care of.
Tips to get Hired
Given below are few important tips and tricks to be implemented to achieve your goal:
- Be thorough with the accounting and financial skills acquired during school/college or before the exam
- Display mathematical aptitude during the interview to impress the interviewers.
- Be to the point and measure everything quantitatively as you display your subject skills
- Carry all your awards and certificates before you appear for the interview
- Formal dress code must be followed. Speak boldly.
- Make sure that the interviewers find you target-oriented i.e. person who loves daily challenges and narrow deadlines
- Assure the interviewers that you have no hassles working extra hours every day.
Engineers and Banking: Required Traits
This a clichéd question asked from most of the candidates who opt for banking after engineering. Consider the points below to assure the interviewer that you have valid reasons for a switch:
- Due to digitization, banking systems have adopted new technologies which can be handled and understood by engineers. Keep yourself updated with the latest technologies is the key.
- ATMs, Internet Banking, Mobile Banking and facilities like Credit/Debit card management also require engineers for better understanding.
- Leadership qualities in you can help you during the interview round of SBI PO.
- Communication skills are the most important. Candidate must be soft spoken and must possess good communication skills.
- Engineers are also best suited for the IT department in a bank. Technical know-how coupled with analytical skills are perfect for the bank job.
- Star TV Spends Rs 16347 Crore to Buy IPL Media Rights - September 4, 2017
- SBI PO: How Engineers Can Crack it? - August 31, 2017
- How to Get that Perfect Idea for Writing an Essay - August 24, 2017