Graduates can work either in government or private and foreign banks after completing their bachelors degree. Different banks have different requirements when it comes to hiring freshers in terms of qualifications and job profiles offered. Also Read - 'We Need Jobs': Twitterati Marks PM Modi's Birthday As 'National Unemployment Day', Here's Why

Students should note that there is a lot of competition when it comes to banking sector. It is an industry that requires graduates who are mentally alert. Since, it is all about handling money, one cannot afford to make mistakes. Also Read - Students Still Pissed? After Mann Ki Baat, All of PM Modi's Videos Are Getting Massively Disliked on YouTube

When pursuing a career in banking many candidates have a confusion about whether to choose public sector banks or private & foreign banks. Public sector and private banks have separate guidelines when it comes to qualifications, work culture and recruitment. Let us have a look at few differences between them: Also Read - What is Common Eligibility Test? 10 Points on How it Will Change Recruitment Process

Preferred background:

  • Public sector bank – Students from any stream may apply after their 10+2 or graduation from any stream.
  • Private/foreign bank – Preference is for b-school graduates, CAs and CFAs.

Recruitment:

  • Public sector bank – Graduates are recruited in large numbers for clerical and probationary officer posts on the basis of a national level exam. Notices are printed in leading newspapers.
  • Private/foreign bank — Recruitment is done through placements in selected campuses or public notices.

Promotions

  • Public sector bank –Promotions are not regular.
  • Private/foreign bank – Promotions are based on performance.

To conclude, public sector banks provide a stable career. Working hours may be more structured but the pay scale will be fixed for different scales. Employees in a private bank are judged on how they perform. The better one’s performance, the higher the chances of getting a good appraisal and better salary.

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