After completing their 10+2 years of high school, many students in India choose to pursue B. Com degree in banking, one of the most popular academic fields. It is one of the possibilities that students most often look for when pursuing career after B. Com.
- Com degree with a focus on banking assist students in developing a solid knowledge base in the area of banking. The banking sector is the first choice for B. Com students after graduation. The banking industry is the top preference among B.Com graduates. Salary after B. Com degree in the banking sector can range from 5 LPA to 25 LPA.
- Com graduates are the top choice for employment at banks. These banks might be either commercial or government-owned. A government bank requires you to complete a qualifying exam before hiring you, while private banks use campus placements to hire students. However, there are several opportunities available to students in both the public and private sectors, ensuring their continued development.
Let’s look at how to get a job in a bank after college.
What credentials are required following a B.Com for a job at a bank?
The requirements for the public and private sector banks differ.
To work for a PSB, or public sector bank, you must pass the qualification exam given by the Institute of Banking Personnel Services (IBPS). The organization conducts the entrance tests for the IBPS Clerk and IBPS Bank PO.
Among the criteria for IBPS Clerk are:
- Com degree
- Diploma in information technology or computer science as a subject in high school or after graduation.
- The applicant’s age must be at least 20 and no older than 28, respectively.
Qualifications for IBPS Bank PO: –
Any UG degree from a college or university is acceptable regardless of what percentage earned.
The minimum and maximum ages to apply are 20 and 30, respectively.
The maximum age relaxation for both exams is three years for OBC candidates, five years for SC/ST candidates, and ten years for PWD candidates.
Private sector bank recruiting standards differ from bank to bank and are set by the hiring authority and posted on the bank’s official website. It could entail passing a written exam or becoming eligible for additional degrees like CA or CS. Therefore, be sure to regularly visit their websites and carefully read the message.
Career after B. Com graduates in the field of banking: Job roles
As was previously said, career after B. Com includes numerous employment prospects in the banking industry, whether it is private or public. They give potential employees the freedom to select from a variety of work profiles and choose the one that best fits their needs.
Financial Analyst: A Financial Analyst’s responsibilities include conducting market research and analysis as well as offering financial or investment advice to bank clients. They are also in charge of forecasting and analyzing the bank’s future performance.
Salary after B. Com degree for Financial Analyst: LPA = 4.0
Investment banker: An investment banker works to get capital finance for the bank’s infrastructure expansion and enhancement projects. They also provide financial services to customers of banks. Additionally, they might be in charge of organizing the bank’s IPO.
Salary after B. Com degree for Investment Banker: LPA = 4.8
Bank Clerk: A bank clerk is in charge of overseeing a bank’s fundamental operations, including cash withdrawal and deposit, maintaining KYC compliance, and responding to frequent consumer inquiries. In conclusion, the bank clerk plays a significant role in enhancing consumer convenience.
Salary after B. Com degree for Bank Clerk: LPA = 3.0
Bank Teller:Bank tellers are also referred to as cashiers or customer service agents. Their job is very similar to a bank teller’s. Since they frequently interact with consumers, they are regarded as frontline bankers.
Salary after B. Com degree for Bank Teller: LPA = 5.8
Loan Officer:A loan officer assists small enterprises and regular people in obtaining loans for things like buying a home or a car, industrial equipment, machinery, etc., for their own personal or professional development. They educate or provide assistance to clients or businesses regarding the lending procedure as well as aid customers in better understanding the terms and conditions of the loans.
Salary after B. Com degree for Loan Officer: LPA = 4.8
Treasurer: A treasurer is in charge of creating financial records, strategies, and other related documents. The bank’s financial demands, both immediate and long-term, must be managed by the treasurer. Treasurers plan for the bank’s cash requirements and manage cash flow accordingly.
Salary after B. Com degree for Treasurer: LPA = 18.0 LPA
Bank Auditor:A bank auditor is in charge of a variety of tasks, such as determining the veracity and accuracy of the bank’s financial records, suggesting and implementing changes to the internal audit process, conducting audit procedures to ascertain the bank’s precise financial situation, etc.
Salary after B. Com degree for Bank Auditor: LPA =6.0 LPA
Credit Analyst: A credit analyst’s duties include assessing a customer’s credit score based on their savings balance, loans they have taken out, etc., as well as the associated credit risks. The bank decides whether or not to grant credit to a customer based on the credit analyst’s recommendation.
Salary after B. Com degree for Credit Analyst: LPA =6.0 LPA
Relationship Manager: The Relationship Manager is in charge of overseeing and maintaining the financial objectives and client portfolios of the bank’s clients. Along with deciding on the customer portfolios, RM also makes decisions regarding the loan structures, terms, guidelines, and other factors that guarantee the bank’s smooth operation. They make it easier for customers to connect with bank services.
Salary after B. Com degree for Relationship Manager: LPA =5.5 LPA
Wealth Manager: The Wealth Manager at the bank offers financial guidance regarding the various goods and services the bank offers, such as tax planning, estate planning, investment planning, etc. Additionally, they are in charge of purchasing and selling stocks or shares on the client’s behalf.
Salary after B. Com degree for Wealth Manager: LPA =6.5 LPA
What makes for a better career: working for government banks or private banks?
There are two ways to enter the banking industry, as was already mentioned. Which is best for you, though? The answer unquestionably relies on your current situation, while both private and public bank employment offer advantages and disadvantages.
How to get ready for a job in banking?
Check out these tips for getting a bank job after a B.Com.
- Pick the appropriate degree in Banking or commerce like B.Com, for instance.
- Getting ready for the bank exams
- After completing your degree program, you can begin studying for your bank exam in accordance with the syllabus.
- Get a master’s degree for senior-level positions.
- A master’s degree in business or finance is advised if you want to pursue a senior position.
- Obtain certification in finance or accounting
If you don’t want to devote the necessary time to a master’s degree program, you can obtain an online certification in finance or accounting to apply for numerous bank jobs. They will undoubtedly aid you in enhancing your resume. Digital Marketing Course
Networking
Establish and develop close relationships with other industry specialists to gain a thorough understanding of the field.
Some top government and private banks that recruit B.Com graduates
- State Bank of India
- HDFC Bank
- Bank of Baroda
- Canara Bank
- Axis Bank
- Kotak Mahindra Bank
- ICICI Bank
- IDBI Bank
- YES Bank
- Bank of India
Conclusion
Given the current job market, it is safe to say that opportunities in the banking sector will increase as India’s economy continues to grow at an exceptional rate. With the help of the B. Com in banking degree program offered by KCC Institute of Legal and Higher Education, you can stand out from the crowd and create a strong and promising future.