"There is difference in knowing the path and walking through it"
Have you ever watched movie 'the Matrix' ? The above is an epic dialogue from that movie. Being a Banker is a very lucrative, prestigious and popular job in India. After Engineering Boom, there came a Banking Boom. Within years many of your friends left their Software Jobs and came in the banking sector. But I was shocked when I came to know that many new bankers are dying hard to get out from this sector. Why would some wish to come out of his AC cabin with lots of money, perks and social respect. Let's find out.
Following facts are based on Interview with Mr. Manish Yadav (Ex- Assistant Manager, IDBI), Mr. Ankur Singh Chauhan (Ex-Scale 3 Manager, Allahabad Bank) and many other ex-bankers:
So why did you choose the Banking Sector as a Career option in the first place:
Because of getting a Banking Job is somewhat easier than civil services or SSC based job and other state jobs also because they are always under constant threat of Court Cases, irregularities etc. After graduation, one's primary focus is to get a stable job and which one seems better than being in a Government Bank.
(Ankur Singh was from Chartered Accountant line and in his words, "I didn't choose the misfortune but the misfortune choose me" - So this is not the case with the normal ones :D)
So What were the Pros (Advantages) of being a Banker
Salary ofcourse, after the recent bipartite agreement, it will be around 42-50k for Management Posts and 27k-35k for Clerical posts (depending upon the Bank in which you are working and if it is SBI, welcome to heaven)
Hefty Liege Accommodations ranging from 12k in normal cities to 30-35k in Metro cities that goes directly into your House Lord's Account which is far greater than what you will get in other Government Jobs.
Allowances for maintaining your life styles like purchase of furniture etc.
Bank's Holiday Homes and Guest Houses which are located in all major tourists spots.
Awesome Training
Cheapest Loans for the employees. You will never be out of cash in your entire career.
Great Medical Facilities. Upto 75% reimbursement for your family.
Best Career Progression in all other Government Jobs. Even a Clerk can go to the top managerial positions in Bank which is not a case in other Government Jobs where UPSCians lead after a certain level.
Better Infrastructure and ofcourse Air Conditioned Chambers which is a luxury in UP State Government Jobs :D
And Why did you left the Bank Job:
Unacheivable targets by management and government. Pressure of sanctioning loans to undeserving customer which results into increase in NPA and then pressure of recovery on branch which is near about impossible.
Very demanding. 70 percent PO flee in their first year. Its a thankless job with never ending work. A CL is a luxury one cant always have.
Increased pressure of selling Third party products like Insurance, implementing Government Policy like APY, PFMY, AADHAR, No fix working hours for PO's. Financial risk ( Any wrong transaction employee have to pay from pocket) . Selling Insurance is toughest task.
Abuse from Senior level Management on non-completion of Targets apart from abuses from customers which is a routine. Rural Postings. Shortage of Staff comparison to expanding branches. No Leaves. Family life - Personal adversely affected. All India frequent transfers. No work life balance. Many bank emplyees are suffering from high BP and Neck and survical pain.
Any advise for the aspirants:
Good Job, but if you can get 4200 or higher grade pay job in other Government Sector, better leave Banks. Or if you want to progress in the banking sector, stick to it.
So that's it from my side. Comment your views.
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