Top Career Options for Engineers in Banking sector
Engineering has always been one of the most sought after career options in this country. With a well respected technical degree, excellent job opportunities and lucrative career options; engineering has ruled the minds of students from very young age. However, with changing times this trend has also seen a dramatic change. With the skewed demand-supply ratio of engineering graduates and lack of progressive career options, engineering graduates in India have been looking at the Banking sector as a prospective career option.
This statement also has some statistical backing as almost 5 out of 10 candidates joining Banking sector belong to engineering background. It may be a new trend, but looking at the general perception and statistics, it is likely to continue on similar growth trajectory for a long time. To know more about, why engineers in India are opting for banking jobs, read: https://www.jagranjosh.com/articles/why-engineering-graduates-are-looking-for-banking-sector-jobs-1467085160-1
Coming back to the topic at hand, while many engineering aspirants have started joining the banking sector, it is done purely as a generalist. In other words, engineers are taking up jobs as generalist clerks and probationary officers in the banking hierarchy currently. However, there are certain specialist positions which are open and available to engineering aspirants, who want to join banking sector after completion of their engineering degree.
Below, we shall discussion both the options i.e., generalist career options and specialist career options available to the engineers in banking industry.
Generalist Career Options for Engineers in Banking Sector: Bank PO and Clerks
One of the key reasons behind the rapid influx of engineers in the banking sector has been the lack of any strict academic degree requirements. The generalist positions offered in banking sectors like bank clerks and probationary officers have minimum eligibility criteria of graduation, which enables engineers to apply for it. Moreover, the Bank PO Exam and Bank Clerk Exams are also primarily focused on English language, Quantitative Aptitude and Logical Reasoning, which acts as an added advantage for the aspirants with engineering background. Moreover, the banking industry requires personnel which have good mathematics & analytical skills, which is a forte of engineering graduates.
Specialist / IT Officers
This is probably the most sought after banking job profile by engineers in India. In fact, due to the technical requirements, they are only open to candidates who have relevant experience in technical domain like testing, handling and maintenance of computer networks and equipment for banking operations.
Selection of IT Officers or specialist officers is done through a recruitment test by the IBPS – the centralized banking authority of India. The minimum academic degree qualification required to be eligible for IT officer position in banking sector is of 4 year degree in IT, Computer Science or Electronics and Communication branch. Unlike the generalist position, the IT / Specialist officer recruitment test includes English language paper and Professional knowledge test.
Agricultural Field Officer
This is another technical position in the Indian Banking sector which has attracted the attention of engineers. Students, who have background in agricultural engineering can opt for this position offered in several public sector banks. In addition to this, basic computer knowledge and computers or IT as a subject in high school or college level is another requirement for this post. Due to the niche eligibility criteria, the competition for Agricultural Field Office is comparatively low and therefore makes for a great career option for the students.
Another lucrative but less travelled path for engineers in banking industry would be of investment banking. Although the prime requirement of this job would be an MBA from a premier B-school, but considering engineering works as a pre-requisite for management education, it is not farfetched. The quantitative skills and problem solving ability that engineers learn during their B.Tech days go a long way in helping them groom their investment banking career. Also, getting into premier B-school for MBA with a major in finance or accounts would be relatively easier for an engineering graduate compared to someone from commerce or humanities background.
These are just a few of the career options available to engineering graduates in the banking sector. Looking at the pace at which banking industry is expanding its footprint across the country, the sector is sure to attract more talent from technical fields and offer them stable and lucrative career options.
If you are still unsure about taking the plunge, read all about if the Banking jobs are good for engineering candidates here: https://www.jagranjosh.com/articles/are-bank-jobs-good-for-engineers-1457697494-1
For comparative analysis of banking sector and engineering career with all their pros and cons, visit https://www.jagranjosh.com/articles/why-do-candidates-choose-banking-after-engineering-1451460427-1
You can also check out the Banking Section and Engineering section for more updates about both these sectors.
Until then, Happy Studying!