Of all the career options for engineers passing out every year, one of the most luring is a job in bank. For all who are wondering about the viability of engineering in banks should go ahead and read this post to get an insight into exciting career options that banks offer to engineers.
With banks hiring in thousands every year, it is just a matter of your efforts and time that you also gain such a job and build for yourself a safe and secure career.
The best thing about a job in banks is that there is no strict academic degree requirement. Whether you are a student of humanity or engineering, both have equal chances to get a secure job in the public as well as private sector banks.
Moreover, engineers have even a better chance as they can get the best of both the world. They are eligible for the generalist positions like clerks and also for other roles like specialist officer, or IT officer.
Jobs in Public Sector Banks
Here are some of the jobs in banks that are specifically for engineers:
Specialist Officers / IT Officers: These are the most sought after positions in banks by engineers. The job involves testing and maintenance of computer networks and equipment inside a particular branch.
The selection is through a special entrance exam conducted by IBPS, the centralized banking authority. Any student applying to these roles must have a 4 year degree in IT, Computer Science or Electronics and Communication branch.
Students of Agriculture engineering have the option to apply to Agriculture field officer. Plus, students should have studied computers or IT as a subject in high school or college.
The entrance consists of a multiple choice question paper with different sections. There are around 120 multiple choice questions which collectively carry 200 marks. The main papers include reasoning, English Language and Professional knowledge test.
The candidates who qualify entrance exam are further called for a personal interview which is held by a panel of experts. The interview panel tests students on various parameters including their presence of mind, communication skills and passion for work.
Career options in Private Banks /Investment Banking
In addition to public banks, private sector banks also hire engineers in great numbers every year for similar positions.
However, if you want to opt for a slightly more challenging and rewarding career path then investment banking is a good option. There are many engineers who, in the later part of their career explore investment banking and make a name for themselves, along with a little fortune.
The best way to proceed to an investment banking career is going back to school for completing MBA degree.
With a major in finance or accounts, you can get placed in any leading investment bank even before completion of the two-year MBA program.
For those who think engineers are entirely misplaced in investment banking, a little eye-opener: the quantitative skills and problem solving ability that an engineer learns during his college days are the most important requirements for a job in investment banks.
The most important point to keep in mind
However, there are some additional prerequisites that you need to fulfil in order to be considered for the best investment banking jobs and having a MBA from a Tier 1 college is one of them. Therefore, if you want the best fruits aim higher.
Prepare for entrance exams like CAT and GMAT and go for the best business school in the country. Many of the leading financial and banking institutions hire aggressively from these colleges and prefer students with engineering background.