Commercial Banking Career
Banks provide loans, credit, and payment services. Banks may offer investment and insurance products. Due to cooperation and integration among finance industries, some of the traditional distinctions between banks, insurance companies, and securities firms have diminished. Commercial banks provide banking services to individuals, small businesses and large organizations.
To succeed in commercial banking one needs a broad understanding of business management to deal with businesses. The most common jobs in commercial banking are as a credit analyst and as a lending officer. These jobs require a strong understanding of accounting. Hence, aspiring candidates need to be well qualified in Business Management and Accounts courses.
Eligibility, Entrance Exams and Courses in Commercial Banking:
A MBA degree with Financial Management as Major is essential for a career in Commercial Banking in reputed institutions.
The basic qualification for MBA Course is graduation in any discipline. Business schools have a three stage selection process comprising of the written examination followed by a round of group discussions and then a personal interview. Common Admission Test conducted by Indian Institutes of Management; Management Aptitude Test by All India Management Aptitude Testing Service New Delhi; Xavier Admission Test by Xavier Labour Research Institute, Jamshedpur, Joint Management Entrance Test by Indian Institutes of Technology, ATMA by the Association of Indian Management Schools are the major national level entrance examinations for admission to management courses. For details, see the websites of the above institutes.
The Integrated Common Entrance Test (ICET) is conducted in Andhra Pradesh. Ranking candidates of ICET can apply for MBA courses in various universities and institutes of Andhra Pradesh. For details, see website <appsc.gov.in>
Top Colleges Offering Courses in Business Administration:
- Indian Institute of Management, Bangalore– Provides Post- graduate programs in Management and Software Enterprise Management.
- Indian Institute of Management, Lucknow – Offers Post Graduate Program for Management students and working professionals.
- Xavier Labour Relations Institute, Jamshedpur-Provides scope to pursue PG diploma in Business administration. .
- SP Jain Institute of Management & Research, Mumbai-Offers several programs in PGD courses.
Andhra University, Visakhapatnam (AP)-Provides wide ranging advanced courses in all fields of Administration
Career Opportunities and Job Prospects:
All major banking and financial institutions offer lucrative careers to MBAs with Financial Investment & Foreign Trade as Major electives plus certification in computer analysis. Foreign banks such as ICICI, ABN AMRO, Lombard, Stanley Morgan keep looking for bright graduates from reputed B-Schools to enlist them as fresher Management Trainees or Investment Analysts. Job opportunities are open in the positions of: Credit Analyst at entry level; Loan Officer and Branch Manager after some experience; Trust Officer & Mortgage Banker with relevant expertise.
Commercial Banking is not known for high salaries. Nationalized banks may offer a salary of Rs 10,000/- to Rs 15,000/-pm to fresher joining as Assistant at entry level. When they reach Officer Cadre they will be offered Rs 20,000/- to Rs 25,000/- pm.
In foreign owned banks and MNCs, management trainees (MBAs) may be offered a salary of Rs 15,000/- to Rs 20,000/- during probation. Later they will be given salary of Rs 25,000/- to Rs 30,000/- pm as Analysts and Managers.