That’s the headline of the ad from SBI for the recruitment of Probationary Officers (PO). It is, indeed, something any career aspiring youngster must pay attention to.
Look at the big picture :
The Indian economy is on her way from being a USD 2.0 Trillion economy to a 5 trillion dollar economy over the coming decade. Financial inclusion of the bottom half of the soci-economic pyramid will be a critical enabler in this process. Banking, as an industry, is going to be a crucial enabler. This juggernaut is all set to roll out massively over the coming decade. All the crucial stake-holders or enablers including the Govts, the central bank (RBI), the banking players (public sector as well as private) and even the banking consumers are thirsting for this expansion.
Needless to say, this is one of the greatest career enabling canvasses on the Indian landscape. Please do pay some close attention to some of the minute aspects of the SBI ad that has appeared this week. Some trends in the market also are worth paying attention to :
1. Banking Expansion and career Opportunities :
The banking sector has expanded, modernized, become more cutting edge and offers immense and wide career opportunities. Credit outreach, rural banking, treasury, personal banking, etc., have grown manifold over the past decade. This is now poised for a deep geographical penetration into the countryside. There is another wave of banking licenses that is underway that will further fuel the demand for young leaders in the banking sector. This will grow similar to the MBA sector during the past decade.
2. Career and compensation :
Banking specialization is likely to emerge as a strong competitor to the MBA option for young college graduate if it is not already one. In my view, IAS, MBA and Banking would figure among the top three careers for students seeking a mainstream PG-level career option.
It is uncommon for me to find engineers with a year or two of work-experience shifting their career from IT to Banking. Mind you, I am here speaking about students working with top IT companies like Infy and TCS. There are two strong reasons for this, in my view :
- banking provides a deep and immensely fulfilling career with a potential to do a 360-degree leadership impact from finance, HR, marketing, outreach, IT, and so on.
- the compensation in the banking sector is also better than any of the B-schools save a dozen. As you browse the ad, you find that the compensation is as high as 8.55 Lakhs. The salary is also due for revision! I would not be surprised if it breaches the Rs 10 Lakh mark. And remember, SBI is a market setter.
What should you focus on ? Graduation students can apply :
One remarkable departure the SBI has made is that the students in the final year or semester of graduation are now eligible to take the exam. This is a huge opportunity opening step for a student.
This is a great opportunity for the students and every effort must be made to make this count to earn a breakthrough into one of the most robust career options in India.
Where are you ? Are you cued in ?
All the best