If there is one sector that has seen an immense rise in interest in the past few years from the side of the aspirants, it has to be Banking! From being a backup option for the UPSC and other exams' aspirants, Bank PO jobs have jumped up to become mainstream career choices for lakhs of students every year. Unlike a decade ago, a number of coaching centres have come up in Tier 1 and Tier 2 cities that claim to train the aspirants for PO and Clerical jobs in Banking. But before you zero in on the Bank job as your career choice, let us take you through the intricacies that would enable you to make a better choice.
- What would you join in the end?
The IBPS PO examination is held for recruiting for the post of PO (Management Trainee) in 20-odd public sector Banks. It doesn't include private banks such as ICICI, Axis or HDFC Bank. The private Banks have their separate recruitment process and do not take part in the IBPS PO examination. Apart from this, the SBI conducts a separate exam for recruiting POs in SBI and its Associate Banks. Also, RBI conducts similar examination for recruiting Grade-B and clerical officers.
- How much are you getting paid?
All the participating Banks in the IBPS PO exam offer almost the same salary. After considering all the components including House Rental Allowance, the starting salary comes to be close to 30,000-35,000 per month for this post. In case of SBI, the salary is nominally higher (1500-2000). If you have heard that SBI offers 60,000 as the starting salary, then let us clear your illusion! SBI (and all other banks) offer different House Rental Allowance which depends upon the city you are posted at. If you are posted at Metro cities, (Delhi, Mumbai, etc) this component of the salary is the highest. SBI also mentions that 'to the POs posted in Mumbai, it is paying over 60,000! (of which over 27,000 is the House Rental Allowance which goes directly to your landlord!)'. Unsurprisingly, RBI boasts of the highest pay package among the Banks. It offers a starting salary of close to 51,000 and 25,000 to its grade-B and clerical officers respectively.
All the above mentioned examinations are conducted online. The major components of the first round of all these examinations include Quantitative aptitude, Reasoning, English, Computer Awareness, General Awareness and Banking Awareness. Apart from this, SBI also conducts a descriptive test of English right after this online examination. The first round is followed by Group discussions and personal interviews. In case of IBPS, the candidates need to give their preference for the Banks at the time of filling up the form. The candidates are called for interviews on the basis of their marks and preference. Please keep in mind that all these examinations have a sectional cut off along with a total cut off. In order to be successful, the candidate needs to clear both the cut offs!
Is there any other specific info that you would like to share with other aspirants? If yes, feel free to give your opinion in the comments below!