Different Posts Available in Banking Sector 2020

Banking is one of the remunerative professions in India. There is a huge demand for Banking due to high paid salary, secure job, various perks and allowances. Also, there is good career growth for each post. So, are you a Banking Job Aspirant? Thinking about which post to apply and what is the Bank post name list? This post takes you through all the details related to all posts in Public and Private Banks.

Different Posts in Banking Sector & Salary 2020

In the current world, banking jobs are among the most sought-after jobs by youth and even several students opt to study Banking oriented courses. There are different types of banks in India. Banking job provides good pay and perks. It also provides rapid growth and job satisfaction. Here are a few major Posts in Banking Sector along with the salary structure for IBPS and other sectors. Check out the Bank Post Name list along with the exam you need to apply for.

SBI offers huge salaries to all their posts. Out of the posts, SBI SO Salary is the highest and has various perks offered to the employees.

Advantages of Choosing Banking as a Career

If your dream job is in the banking sector, then it is definitely the right choice. There are various reasons to choose Banking as a career.

• Aspirants can choose among various domains available in banking like accounting, law, investment banking, taxes, public relations, customer relationships, etc.
• There is huge scope in the banking sector for overseas exposure as there are banks who have branches in Foreign countries as well.
• There is always a chance of getting transfers to Foreign branches. We can see many Banks have set up their branches abroad and it is a great advantage for candidates who perform well in their career.
• At an early age, if chosen a banking job, then it is a great opportunity for candidates to understand the global economy and get many different global opportunities.

Different Posts in Bank

Here is the brief list of bank post list from A to Z. These are the overall posts available in the banking sector, however, there is Banking Sector-wise posts and the exam details explained in the further section. Have a look at the post name and salary structure here.

Participating Banks in IBPS

The following-mentioned are those banks that are in the participation of the banks which conduct banking exams every year under IBPS. Check the list below to know about the participating Banks-

IBPS Bank Posts 2020

Under the Institute of Banking Personnel Selection, there are various posts offered which are listed below. Have a look at the brief explanation of Posts in Bank along with their salary structure, roles, and exams you need to apply for.

IBPS PO

Probationary Officer is one of the highly in demand post for candidates who have completed their graduations. Every year there are more than 8-10 lakh applications received for IBPS PO Exam. Here is brief information about the roles, responsibilities, and salary structure.

Responsibilities of an IBPS PO

• There is a probation period of 2 years
• There could be any work related to banking for a PO
• The probation period is for lengthened training so that the candidates can understand their duties properly
• The candidate must have a firm knowledge of finance, accounting, marketing, billing as well as investment
• Once the probation is over, the individual can be posted as Assistant Bank Manager to handle work
• The individual will handle the work related to people’s bank accounts, cheques, draft insurance etc
• They also have to handle the cash flow, mortgages etc
• Moreover, there are many customer queries and complaints that a PO will handle
• If the candidate is observed to be really responsible and professional, they will be given more duties like planning and budgeting etc
• Also, a PO will take care of transactions taking place
• Even more, they will handle the loan related documents and work related to Loans

IBPS PO Salary

• The Basic IBPS PO Salary is Rs.23700-(980×7)-30560-(1145×2)-32850-(1310×7)-42020 This means upon joining, the Probationary Officers will be getting a Basic Salary of Rs.23700.
• Also, there will be additional benefits and allowances. The POs will also get an annual increment of Rs.980 for 7 years. That is: Basic Pay after 7 years – Rs 30560 Basic Pay after 2 more years – Rs 32850 Basic Pay after 7 more years – Rs 42020

IBPS PO Salary: Allowances

The candidates can check the following table to know what kind of allowances Probationary Officer gets:

IBPS PO Promotions

The table below has detailed information regarding the promotions of IBPS PO:

IBPS SO

Specialist Officer is another respected post on Banking Sector. Every year, IBPS conducts examination to recruit numerous vacancies in different participating banks. If you are aspiring for SO post, then go through the detailed job role and apply for IBPS SO Exam.

IBPS SO Job Profile

• The job profile of IBPS SO means to serve for the technical issues about software and hardware up-dos, transpiring within the organization.
• The IBPS SO will be aware of how to deal with the technological complications, whether they are coming from the side of customers or the bank employees.
• The IBPS SO usually stays at the zonal/regional office or at branches so the job location, most times, is in big cities where the person will be responsible for managing various tasks and duties.
• The main job of the IT Officer in Banks is that he is dutiful towards the delivery of end-to-end support for the bank’s core banking system
• Whether the issues are being observed from the end of customer or from the bank employees, he will provide the solution for the smooth running of systems
• The IBPS Specialist Officer IT Officer work profile has to handle several sub-systems of banking like handling the maintenance of ATM, mobile banking or internet banking.
• The IT officer has to perform creative functions also, like developing new software which holds some strong meaning for the system and if needed, modify the existing software so that to prevent the security issues to system data

IBPS SO Salary Structure

The candidates can check the table given below to know the information related to the salary structure of IBPS SO:

IBPS SO Career & Growth

The table below displays the career growth and promotion idea of the post of IBPS SO: The promotion takes place on the basis of one’s performance and results in the bank

IBPS SO Perks and Allowances

There are several perks and allowances which are provided by the government to the person at the position of IBPS SO. The table below explains:

IBPS Clerk

IBPS Clerks are the most prestigious posts in the bank they are working in. They are the main aspect of the bank because they have to deal with customers regularly. Have a look at the brief information about the job role of clerk and apply for IBPS Clerk Exam.

IBPS Clerk Job Responsibilities

There are some responsibilities of an IBPS Clerk which are written as follows:

• Firstly, the IBPS Clerk verifies several different kinds of documents and proofs which the clients submit
• Secondly, they have the duty of updating passbooks of the customers
• They provide guidance to the customers regarding the bank policies and other things related to the bank
• They also have to be there for the issues of the clients

IBPS Clerk Salary Structure

The candidates must check out the following table for the detailed information regarding the Salary structure of IBPS Clerk:

IBPS Clerk Perks & Promotions

The aspirants can check the table given below in order for more information regarding the IBPS Clerk Perks and Benefits:

SBI Bank Posts

The State Bank of India (SBI) being the largest commercial bank in India, makes sure an extremely secured future for their employees. It offers financial stability as well as high social status. Check out the brief explanation about each post under SBI here. Know the roles and responsibilities, career growth, and salary structure.

SBI PO

The State Bank of India Probationary Officer (SBI PO) is one of the most desired and esteemed jobs in India. Every year lakhs of students write the SBI PO Exam to be recruited in the banking sector.

SBI PO Job Profile

The candidates can check out the following details in order to have more information related to the responsibilities of SBI PO:

• There is a probation period of 2 years for an SBI PO
• During the probation period, the individual will supervise clerical activities, loan procedure, the opening of the bank accounts and more
• Moreover, they will be taught several fields of banking like Retail Banking, Rural Banking etc.
• Other than the on-site training, the individual will also get training at SBI institutions
• Once the probation period is over, the candidate will go through the screening
• The SBI PO will directly represent the bank to the customers promoting to them

SBI PO Salary Structure

The initial basic pay of an SBI PO is Rs.27,620/-. The candidates can check the following table in order to know the salary structure in detail:

SBI PO Other Additional Benefits

The salary of an SBI PO is great. But, that is not enough. There are other allowances which are provided to the employees by the government. The candidates must take a look at the following table for proper details:

SBI PO Promotions & Career Growth

The students who plan to appear in the SBI PO exam can check out the following table to know more details regarding the SBI PO Promotions and Career Growth:

SBI SO

The State Bank of India also offers numerous vacancies in Specialist Officer every year. As per the previous year trends, more than 5 lakh candidates apply for SBI SO Exam each year.

SBI SO Job Profile

The job of an SBI SO usually depends on the department he is posted in. The job is to do technical help. The various responsibilities of an SBI SO are as follows:

• The SBI SO maintains the IT infrastructure in the bank
• Secondly, they also handle the duty to maintain the server
• Also, the smooth working of ATM machines is also handled by an SBI SO
• The person at the job will take care of the troubleshooting matters
• Even more, the person at the duty of SBI SO will handle small tasks like installation, formatting etc.

SBI SO Salary Structure

The following table shows the salary structure of the position of an SBI SO:

SBI SO Perks and Allowances

There are many kinds of perks and benefits that people in government jobs get the advantage of. The following mentioned are some of those SBI SO Perks and Benefits candidates must check:

• House Rent Allowance
• Travel Allowance
• Accommodation Facilities
• Medical Facilities
• Furniture Allowance
• A respectable job
• Handsome Salary

SBI SO Career Growth and Promotions

The following mentioned is the growth and promotion process of an SBI SO: Top Management – Scale 7 – General Manager Top Management – Scale 6 – Deputy General Manager Senior Management – Scale 5 – Asst. General Manager Senior Management – Scale 4 – Chief Manager Middle Management – Scale 3 – Senior Manager Junior Management – Scale 2 – Manager Junior Management – Scale 1 – Officer/Assistant Manager

SBI Clerk

SBI Clerk is one esteemed job profile. The SBI makes sure that the new person at the job of SBI Clerk gets proper training before beginning the actual work. The career growth of an SBI Clerk depends on the performance of the candidate.

SBI Clerk Job Profile

There are several responsibilities of the person at the job of SBI clerk which are mentioned as follows:

• The person as an SBI Clerk will handle the opening of new accounts of customers
• Secondly, the person at the SBI clerk job will also take care of the cheque clearance, cheque book rewards and more such similar duties
• They might also function as Cashiers in some branches
• The SBI Clerk will directly be in touch with the customers to solve their queries

SBI Clerk Salary Structure

The salary (in-hand) of an SBI clerk, after making all the deductions, varies from place to place at which the individual is being posted. It mostly lies in the range of Rs.20,000/- to 23,000/- (according to the posting location). There are several kinds of perks and allowances for the job of SBI clerk which are as follows:

• Dearness Allowance (DA) House Rent Allowance (HRA)
• Special Allowance
• Transport Allowance and more

SBI Clerk Career Growth and Promotions

SBI has some excellent career growth opportunities for the SBI Clerk post. Employees SBI have the chance to get promotion in JMGS Scale-I.

• For promotion to the officer cadre, the person has to satisfy specific requirements, which vary as per the promotion cadre. For example, for promotion to Trainee Officers, the employees can write the written exam and interview after 3 years of service
• SBI Clerks have the best opportunities for promotion in comparison to other government banks
• Employees can reach as high as the post of General Manager because of the fast track promotion process of SBI

Hierarchy Structure in Private Sector Banks

Private sector banks are a lot different from public sector banks. It is hard to compare between both public sector and private sector banks as both of them function differently.

1. Clerks – Clerical positions are front desk positions. Clerks have to deal directly with customers and have responsibilities like current deposit, term deposit, savings account, retail loans, agricultural loans and cash credit sections.
2. Officers – Officers need to conduct seminars and business planning sessions and discuss monthly functioning of the bank. They analyse monthly reports and prepare financial reports to submit to higher management

Hierarchy Structure in Public Sector Banks

Middle Management

The following is the details of Middle Management:

1. Manager – They oversee the daily functioning of the bank and guide the junior staff in the individual departments. They also work closely with the marketing team and develop flexible programs for the customers.
2. Senior Manager – Senior managers are with the loan section and work on investments and account service operations.

Senior Management

Senior Management information is as follows:

1. Chief Manager – Chief Manager manages the list of implementations of accounts and report to shareholders, cost control, budgeting and also report to local authorities.
2. Assistant General Manager – They solve the customer queries regarding the savings and current accounts and make the customer understand the value of various banking and financial services offered by the bank.

Top Management

The top management is explained as follows:

1. Deputy General Manager – Deputy general manager works under a general manager. The main role is to monitor various banking policies and procedures and assist the general manager.
2. Chief Financial Officer – CFO is an important constituent of the bank, who supervises the financial unit of the bank and reports to the chief executive officer. CFO conducts regular operations like cost-benefit analysis, budget analysis and forecasting.
3. Chief Executive Officers – CEO should be well knowledgeable about capital management, business communication, portfolio management, investments, investing, security analysis, and finance laws.
4. President – The president oversees the operations of the top management. The president is responsible for implementations and planning of various policies in the bank and also coordinate with third parties related to banking that may also involve governmental and non-governmental organizations closely related to banking and finance.

Which one of the two is better – Private Sector Bank or Public Sector Bank?

You need to decide whether you want to work for SBI or HDFC. It all depends on you. Both PSB’s and private sector banks come with their own set of challenges and hence it would be wrong to say that one is better than the other. The Culture of working too will differ in both private and public sector banks. Private sector banks will have a very competitive environment to work and there will not have much job security. Public sector banks, on the other hand, are very conservative and come with a lot of perks and benefits, but not without their own set of disadvantages.

Roles & Responsibilities in Public Sector Bank

Given below are the roles and responsibilities of various posts available in Public Sector banks:

Clerk: Job Role and Responsibilities

• Clerical jobs in a bank are the starting point for a career in banking.
• Clerks are assigned duty such as interacting with customers, maintaining an account, creating reports.
• In government banks, clerks are seen in the cash counter handling day-to-day transactions of customers.

Probationary Officer: Job Role and Responsibilities

• Candidates with a degree are considered eligible for PO position.
• There are several people who joined as PO and scaled to the ranks of MD or CEO.
• A probationary officer is ranked above the clerk and enjoy higher pay grade and salary as well.
• Clerks too can become PO through internal promotions.

Specialist Officer: Job Profile and Responsibilities

• Specialist Officers work in specific departments like engineering, systems, marketing, management, public relations, and they are essential.
• Specialist officers may work in the loans department where they assess and analyse the capacity of those who apply for loans.
• These officers may sanction loans to the based on their financial capacity to repay loans and their past records.
• For example, Specialist officers with an engineering background may also be recruited into the IT department to take care of the technology assets of the organisation.
• Usually, candidates from professional courses or specialized courses are preferred for this position.
• Agriculture Officer (as Part of SO): Agriculture officers may have to give loans to farmers. They work on agricultural loans and help people from rural areas. Candidates with a background in agriculture, veterinary science and horticulture are preferred for this post.

Manager / Asst. Manager: Job Profile and Responsibilities

• Candidates with an MBA degree are preferred.
• These candidates should also possess minimum work experience of 3-5 years of work experience.
• Becoming a manager is quite difficult especially in Public sector banks as a lot of experience will be preferred.
• Becoming Branch Manager is relatively difficult just like becoming a zonal manager is even more difficult.
• In Private sector banks, the hierarchy is very different.
• A lot of experience in the private sector, especially in the banking sector will carry a lot of value.

Internal bank auditor

• The job of an auditor is to make sure that all the accounts and checks balance and match.
• It is a rather fundamental task and in case of most organisations or institutions, external auditors are sent to check whether or not all the paperwork for that organisation is in order.
• Every organisation thus needs to have an internal auditor as well who will manage all the affairs and this is the task of an internal bank auditor.
• It is one of the most prestigious Job Positions In Bank that offers great pay scale.

Branch Manager

• Each branch has its own operational mechanism which needs to be supervised and maintained by someone.
• The Branch Manager is responsible for handling all the situation in the Bank.

Marketing Representative of the Bank

• Every bank wants to increase its customer base. More the number of customers with accounts more is the credibility enjoyed by the bank.
• This is what this position of all the Job Positions In Bank entails.
• it is the job of the marketing representative to make these schemes saleable.
• They need to explain to a potential customer why it is important to go for an investment plan or open an account and how it will benefit them.

Bank Teller

• When we go to a bank, we will always approach the bank teller first. It is the job of a bank teller to reach out to the customers.
• It is very important that the tellers are friendly and can patiently hear out all the queries that a customer might be having.
• The bank Teller also needs to take care of the accounts of the account holders, deposit cash in accounts they are meant for, give cash after verifying the details of the account holder, creating challans and demand drafts and taking care of the basic customer requirements.

DPO or the Data Processing Officer

• It is the job of the DPO to make sure that all the systems of the bank are updated and in order at the end of the day.
• It is also their job to look after the technical side of data entering, updating the internet banking system etc.
• There may be one or many DPOs working under a particular person with a structured plan in hand.

Loan officers

• This is another really important one of all the Job Positions In Bank.
• Many account holders often request for different kinds of loans to a bank, for personal reasons, for housing, for cars etc. It is the job of the loan officer to either sanction or rejects these loan applications.
• The loan officers have to run a background check on the applicant and go through their accounts to understand whether or not the applicant will be able to pay their loan in time based on which they will allow the loans.
• Loans are important sources of money generation for a bank because of the interest rate that is paid along with the loan.