job in private banks, advantages and disadvantages

well, i was working with axis bank and my whole family and relatives are spread on all the private banks including hdfc bank, icici, kotak and ing vysya bank. let me tell you about brief anatomy of banks.

bank is a financial mall, where we can find all the financial product like savings account, current accounts, fixed deposit, tem deposit, life and general insurance, mutual funds, loans, cash credit, credit cards, over draft, equity and forex tradings etc etc. there are more than that like income tax and service tax payments, indeed all the money transactions is either directly or indirectly related to banks, and private banks are more stronger in relationship compared to co-operative and government banks, so small and big NBFC (Non Banking Finance Corporation), brokers, insurance companies are not in relation with private banks suppose one of the growing indian-japanise insurance company max life insurance have made contract of 10 years with axis bank to sell and spread their business and product, to collect their premiums such as initial premiums, renewal premiums, death claims and other KYC requests. so there is not only life insurance, there are other products companies as i mentioned earlier with relation of private banks. banks are also gaining huge amount of profit while servicing and selling their contractual deals.

so how does it effects to one fresher, or one who comes from different sectors?

Selection

first of all now a days banks are electing their candidates on their IQ level, every private banks are now taking medium level's examinations after that elected candidates have to face interviews.

selected candidates have to passed medical tests, some reference analysis and finally one can signed offer letter and welcome kit from bank. after that there would be six month's probation period and training etc etc.

work

so now lets talk about which kind of work Probation Officer or Assistant manager has to do, 

first of all core operations, there are three types of transactions, one is cheque, one is cash, and one is transfer. so everyone in staff is involved and related to those three types. 

first is core operations in banking hours

second is while doing your back office work, you are advised to make cross sales of those products which i mentioned earlier, yes that comes a climax or a turning point. may be fresher doesn't want or know to sales but it is mandatory to do, because everybody have certain targets to achieve, and to take promotions.

third one is to go in to direct marketing, so after your banking hours and your operation finished when day end should be done, your banker will tell you to go out in market and bring us some business, yes that's bitter truth that shocks some of guys who thinks bank jobs are pure and core operations job, there is nothing pure and core, indeed there is nothing like a operations either.

so let me describe you brief details of advantages and disadvantages below so that one can focused and to choose right path for better future.

Advantages :

Bank job :- after all in india Bank employees gain more respect than any other

Multi tasking abilities :- private bank will teach you all the financial product's operations and sales

Batter Growth :- although banks are not so fruitful about salaries increments nowadays but still Growth is stable if you have done better in sales

Front Desk Relation :- every guy who works in bank is facing atleast 20 to 40 customers in rural area and 100 to 200 in urban area, so your relation with random people would be strong if you are good in services and so on

Disadvantages :

Sales Pressure :- Do Not Go to private banks if you are not good in sales because of after all your promotions and increment will depends on your Sales, it doesn't matter whether you have scored 100% in your operations work you should have achieve minimum targets

Rural areas :- Banking sector are now growing, lots of private banks reached and focusing on rural areas, but the problem is everybody is not ready to leave their own city, there would be some unavoidable circumstances or may be some responsibilities, also rural areas are so tough that you can not find sales, hospitality, even your mobile networks.

Late working Hours :- in Government banks working hours is fixed, but in private banks you should be ready to atleast work around 12 hours, and so on, so your social life would be tough.

Notice Period :- this is one of the worst part in private as well as government banks, they are not allow you to resign your self from your job, every banks have included 90 days and more time to notice period. and if you are not following, you should probably have to pay a big bounty and charges to your employer.

so there are main reasons to be concern while choosing private banks as a career, still there are lots of advantages and disadvantages, but you can draw from this anatomy of how bank works after all think twice before choosing right path