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Can one even think of a Harvard graduate applying for a clerical job in a bank? Well, think again.
According to Jyothi Ghosh, Chief General Manager, State Bank of Hyderabad, a candidate from Harvard attended the interview but was not selected because the bank felt he was ‘overqualified’ and would definitely leave at the first good offer.
This could point to two trends. First, the rising popularity of bank jobs. It is estimated that over 60,000 clerks and officers will be recruited this year by public sector banks. And, second, lucrative corporate openings are shrinking.
Bank jobs, especially for the post of probationary officers, were very popular and next only to the all-India Civil Services about 20-25 years ago. But, thanks to the IT boom, they soon lost steam.
But now the interest is back. Engineers, IT professionals, management grads are all flocking to the banking space for a variety of reasons. “I am looking for a bank job because of financial security and comfortable working hours,” said K. Pratyusha, a former techie with Cognizant and a M.Tech (VLSI Design) from Vellore Institute of Technology
“For women, working hours in IT are not convenient,” she added.
“The career development opportunities and economic environment are behind the current interest in a career in banking,” M. Bhagavantha Rao, Managing Director, State Bank of Hyderabad, said. The security of tenure and unavoidable ups and downs in the IT industry are also luring youth to bank jobs. “The IT/BPO jobs are no longer attractive due to uncertainty and recent dip in remuneration packages,” pointed out C. S. Vepa, Director of National School of Banking.
BETTER salaries
The salary package in banks has also improved substantially. For instance, State Bank of India is offering up to Rs 69,000 a month for a probationary officer in Mumbai, and in other cities, about Rs 50,000.
As per information from banks, over 10,000 vacancies are likely to be filled up in the next 4-5 months.
Over 60,000 new employees will be needed in the current financial year for replacing those retiring and on account of branch expansions.
naga.gunturi@thehindu.co.in
somasekhar.m@thehindu.co.in
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