The banking sector can be called the vehicle of the modern economy. Be it carrying out small business transactions or investing in large companies, banking has become an indispensable part of modern society. Over the years, the banking sector has grown at an unprecedented rate, creating a huge number of job opportunities all over the world. From the public sector to private banks, the need for skilled banking professionals has been on the rise over the last few decades and more so for developing economies, proving to be an enticing career option for students. Though the number of vacancies keeps increasing, the competition is equally tougher. Candidates who have an edge over others are given preference. To start a career in banking, an undergraduate degree is a much-needed credential but where you pursue it from is makes a big difference.
What is Taught in Banking?
Banking, in general, is taught as a subset of undergraduate programmes like Accounting, Finance and Business. Students are given theoretical as well as practical understanding of the domain so that they are prepared for the industry. Like any other sector, banking also is highly influenced by technology, which is why the curriculum in it can change drastically but the core concepts remain the same. Students pursuing a career in banking are not only trained to be adept with numbers, but they are also taught other skills like dealing with customers and resolving their queries, and also ensuring that the relationship with customers is maintained. Here are some of the core concepts covered in Banking:
How to start a career in banking?
One can start a career in banking right after their undergraduate degree but that is not the only prerequisite. While some private banks may hire candidates based on their professional expertise and academic background, public sector banks on the other hand, have dedicated exams to fill their positions. These exams are highly competitive with tens of thousands of applicants contesting for limited positions. The exams are designed rigorously to select the best candidates, which is why it is imperative to have a strong understanding of the core concepts of banking. Similarly, the selection process set by private entities to hire bankers follows the same pattern where a candidate is tested on various fronts, but more on an individual scale.
Get a Recognized Undergraduate Degree
The global banking giants do provide lucrative remuneration to their employees, but they have a strict selection procedure that might be tough to crack even with months-long preparation as they do not test the candidates on theoretical knowledge only. To be prepared for such challenges, one needs to have an edge over other applicants and having a global education with an application-oriented curriculum that trains your mind to be a problem-solver will significantly improve your chances to getting a desired position at banking multi-national.
Appear in Banking Exams
If you’re planning to make a career in banking in India, then the best way to do so would be through appearing in a bank examination. The bank exams are highly competitive and might require you to dedicate ample amount of time for preparation but if you have a solid academic foundation and knowledge of current affairs, then it should be easy.
Earn an Advanced Qualification
While it is fine to work just after earning your bachelor’s degree from a recognized university, it still is advisable to go for a certification course or a master’s degree to increase your earning potential. Some of the popular certifications that you can earn are:
Global Education in Finance at ISBF
By now you should have known how you can pursue a career in banking. The kind of education you receive is going to be one of the deciding factors, which is why a global exposure and learning experience is a much-needed credential when you don’t want your career opportunities to be limited by geographical boundaries. Indian School of Business and Finance (ISBF) is among the top 5 global teaching centres of the University of London that teaches exactly the same curriculum in India as taught by London School of Economics (LSE) in London. Among other LSE led programmes, the institute offers BSc (Hons) Accounting and Finance programme that prepares students for exciting careers in banking and finance. Upon completion of the programme, students receive a degree from the University of London.