11 Reasons Why More And More Millennials Are Opting For Banking Jobs

The age of corporate and private jobs is here. Or so we think.
FDI has crept in, governments are selling stakes in PSUs to private investors and companies, and looking at this trend, we should see a fall in people aspiring for a public sector job.

But statistics speak otherwise. The number of people who attend examinations for public sector banks has doubled in the last decade. Nothing has really changed, except for the young people’s mindset.

Earlier, a lavish public sector job was a status symbol, but now, these jobs are pursued for the value they add in the lives of its employees.

Why does today’s generation still aspire for banking jobs?

1. You get trained extremely well.

One of the reasons why the entrance exams are so tough is because they test the candidate’s ability to absorb the rigorous training after they join the job.

The training they provide is world-class.

 

2. You get overseas quality work exposure without shelling a paisa

The Banks don’t spare any expense in exposing their cadres to the foreign lands. If a foreign assignment can add to the value of a deserving employee, he/she will be sent with a contingent that will get the best of the facilities and accommodation money can buy.

 

3. The technology these companies use is top notch. The days of piles of files and paperwork is over.

Banks started incorporating technology at the same pace as with the developed world. This has led them to be leaders in technology infrastructure.

 

4. The perks of leaves, and annual holidays – the employees are rewarded for their hard work

Banking jobs, in addition to the national holidays, offer long weekends almost every alternate week. They follow the holiday calendar religiously. Additional perks are given if employees work hard. This way, employees are never underappreciated.

 

5. Banking jobs are getting more dynamic in nature. Competence is key to getting promoted now, and hence, women have an equal chance at getting high-ranking jobs

We have all heard of stories where the wrong person has hijacked the promotion. But that has changed now. Job profiles are getting more dynamic.

Targets and deadlines are set. Employees are accountable for their performance now. If you perform well, you are rewarded, if you do not, you are not.

And that is why a lot of females pursue a career in banking. A fine example – the current SBI chief is Arundhati Bhattacharya.

 

6. Work-life balance is maintained well

You have time to enjoy with your family and get all the facilities in the colony you live in – sports, recreation, social dos. You do not have to abandon an aspect of life for your job.

 

7. You meet other expert officials who have tremendous experience in administration and are subject experts in their fields

All top officers are extremely proficient in their fields. You get to learn a lot from your superiors. You also get to meet the top industrialists and top bureaucrats.

 

8. Both women and men can get up to 2 years of sabbatical – a special leave where they can catch up with their personal life and take care of their loved ones

All employees can avail of sabbaticals – a period where you can take a break and come back to your job after a period of time. People take 1-2 years off to study, improve and get a work life balance.

 

9. The public sector has started paying their employees attractive compensation packages that are at par with the best in the industry

Money is a good motivator for doing a job well, and the nationalized banks realize this now. And add to this the pride and respect you get for doing for the people. That is something to strive for.

 

10. You work on the grass root level, serving the common villagers and you work in the top levels, meeting the corporate honchos

If you are posted in a rural branch, you interact with the problems rural people face. You get acquainted to the problems our country faces at the grass root level.

When you have a glitzy urban posting, you interact with the cream of corporate personalities. You understand the nuances of that strata of society too.

 

11. The PSUs takes care of its employees after they retire

And in the end, because you have served well, the banking sector gives you a respectable pension to live your last leg of life in comfort, with some privileges still attached!

What’s not to like in such a job?

Recently State Bank of India announced their new career openings here.

SBI is the only Fortune 500 Bank in India. The brand name itself is synonymous to trust and loyalty. Working at SBI opens up a world of opportunities, lets you flourish in a growth oriented culture while providing you best in class benefits.

You can check the job roles available here.

Serving people and seeing the dynamics of your people change as you perform better is probably the best feeling in this world.

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This story is brought to you in association with State Bank of India.