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Government Jobs for Bankers: In India, Top Recruiters, For Freshers, Average Salary, Vacancy

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Ahana Bhaduri

Content Writer | Updated 3+ months ago

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Bankers provide financial services to customers and help them in managing their accounts. They act as architects of economic progress, wielding their expertise to facilitate transactions, foster investments and fuel growth. Working as the backbone of the financial system, their acumen contributes to the stability and prosperity of the nation’s economy. 

The growth of the banker profession has been marked by significant transformations, adapting to the changing economic landscape and technical advancements. The banking sector has evolved to technology-driven platforms resulting in lucrative opportunities for bankers. A PO in SBI earns a basic pay of INR 27,620 along with other benefits and compensations. 

Government banking opportunities offer an intriguing avenue for professionals seeking stability, growth and meaningful impact. There are a total of 12 public sector banks in India offering opportunities for bankers to join in various roles. The government sector has paved the way for a unique spectrum of career opportunities for bankers. The sections below discuss the various government opportunities for bankers along with their average salaries.

Who are Bankers

Bankers are professionals who work in the financial industry, primarily in banks and other financial institutions. They provide a range of financial services to individuals, businesses and organisations. Customer service, financial transactions, account management, lending and loan processing are some of the major duties of a banker.

Government banking jobs are highly sought after, often found in organisations like RBI, SBI and various public sector banks. There are different types of bankers based on their specialisation. A retail banker handles everyday banking tasks, a commercial banker serves businesses and corporate clients in financial matters, a private banker provides personalised financial services to high-net-worth individuals and many more based on their roles and expertise. 

Jobs for Bankers

A banker's job involves managing transactions and providing a range of financial services to individuals, businesses and organisations. They play a crucial role in assessing creditworthiness, evaluating risks and helping make informed financial decisions. They also handle customer enquiries, promote banking products and contribute to the overall stability and growth of the financial institution. 

Tabulated below is the job description of bankers across government banks along with their average salaries for each specialisation. 

Teacher Profile Job description Average Salary (INR)
Retail Banker Work with individual customers and handle everyday banking tasks. 3.4 L
Commercial Banker Serve businesses and corporate clients and provide financial and treasury services. 2.4 L
Investment Banker Help companies raise capital by issuing stocks and provide strategic financial advice. 4.5 L
Private Banker Provide personalised financial services to high-net-worth individuals. 7.4 L
Corporate Banker Handles financial services for corporations and large businesses. 14.5 L
Loan Officer Evaluates loan applications and recommend or approve loan based on established criteria. 2.3 L
Bank Manager Oversee daily operations of a bank branch, manage staff and ensure efficient customer service. 7 L
Credit Analyst Assess the financial history and risk of individuals and businesses applying for loans. 5.2 L

Government Jobs for Bankers

Government jobs in India offer a lucrative career choice in the public sector. These roles typically include roles like PO, Clerks, Managers and more. These positions provide job security, attractive salary packages, regular promotions and a range of other benefits. 

Some of the top government jobs for bankers across various parameters along with their average salaries are discussed below. 

Experience Wise

Experience is an important factor in deciding the salary of a banker in government banks. Tabulated below is the experience-wise salary of bankers employed across various government banks.

Experience Years Average Annual Salary (INR)
0 - 5 years 3.4 L
6 - 10 years 6 L
11 - 15 years 10 L
16 - 20 years 16 L
20 years & above 21 L

Qualification Wise

There are many courses at different levels that candidates can pursue to become a banker. The qualification-wise salaries are mentioned in the table below. 

Qualification Average Annual Salary (INR)
Diploma in Banking 2 L - 4 L
BBA Banking and Insurance 2 L - 6 L
BCom Banking and Finance 3.40 L
BCom Banking and Insurance 2 L - 20 L
MBA Finance Management 3 L - 9 L
MBA Banking and Finance 3 L - 7 L
MBA Banking and Insurance 3 L - 20 L
MCom Banking and Finance 4 L

City Wise

The salary of bankers can vary based on their location. The banker salaries across different Indian cities are mentioned in the table below. 

City Average Annual Salary (INR)
Chennai 5.2 L
New Delhi 4.6 L
Bangalore 4.4 L
Pune 4.1 L
Mumbai 4.1 L
Hyderabad 3.7 L
Kolkata 3 L

Sector Wise

There are many opportunities for bankers in both sectors, public and private with different pay levels. The sector-wise salaries for bankers are mentioned in the table below. 

Sector Average Annual Salary (INR)
Government Sector 5 L
Private Sector 3.1 L

Govt Banker Jobs

The minimum qualification required to become a banker is a bachelor’s degree in banking, after which candidates can start looking for jobs. Some of the top government jobs for bankers along with their average salaries are tabulated below.

Job Offering Institute Average Salary (INR)
Senior Division Clerk SCDCC Bank 24,910 - 55,655
Assistant Manager HPSCB Bank 10,300 - 34,800
Senior Vice President (Investor Relations) State Bank of India Upto 85 L
Probationary Officer IBPS PO MT 2023 27,620
Probationary Officer Karnataka Bank 84,000
Chief Risk Officer Punjab National Bank -
Junior Associate (Clerk) SBI Junior Associate 2023 19,900

Top Recruiters

Bankers are hired by a number of government banks for a variety of roles. Some of the top government recruiters of bankers are listed in the table below. 

Name of the Organizations Location
RBI Mumbai
SBI Mumbai
Punjab National Bank Across the country
Bank of Baroda Across the country
Union Bank of India Across the country
Central Bank of India Across the country
Indian Overseas Bank Across the country

Govt Jobs for Bankers: FAQs

Ques. How can I join a government bank?

Ans. Candidates have to apply for relevant bank positions through entrance exams like IBPS PO, IBPS Clerk, SBI Clerk and SBI PO and follow their recruitment procedures.

Ques. Which bank is best for government jobs?

Ans. Banks that come under the bank exams IBPS PO, IBPS Clerk, SBI Clerk, SBI PO, RBI Assistant and more are best for government jobs. 

Ques. Is it important to have a graduate degree to become a Banker?

Ans. Students can complete diploma or certificate courses to get entry-level positions in banks. It is advised to have a graduate or even postgraduate degree for better career growth and payment opportunities. 

Ques. Which government bank job has the highest salary?

Ans. The general manager position in a bank generally has the highest salary.

Ques. Which bank job is better - government or private?

Ans. The choice depends on the individual preferences and priorities. 

Ques. Which cities have the most demand for Bankers in India?

Ans. Chennai, Bangalore, New Delhi, Pune and Mumbai have the most demand for Bakers in India with the best salaries.

Ques. What is the future of banking jobs in India?

Ans. The future is expected to be influenced by technological advancements, with a shift towards digital banking and automation. 

Ques. What are the major jobs of a banker?

Ans. Customer service, financial transactions, account management, lending and loan processing are some of the major duties of a banker.

Ques. What are the top colleges for banking courses in India?

Ans. Delhi University, Jamia Millia Islamia, NMIMS, Christ University AND Mumbai University are some of the top colleges for banking in India.

Ques. Name some top government banks that hire bankers.

Ans. RBI, SBI, Central Bank of India and Punjab National Bank are some of the top government banks hiring bankers in India. 

Master of Business Administration [MBA] (Banking and Finance) : 17 answered questions

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Ques. What is the difference between PGDM BFSI and PGDM Finance at IMT Ghaziabad ?

● Top Answer By Sreetoma Gupta on 04 Jun 23

Ans. The emphasis of the curriculum distinguishes the IMT Ghaziabad PGDM Finance programme from the full-time PGDM program. A general management education, including instruction in marketing, finance, operations, and strategy, is provided via the full-time PGDM programme. The program's participants will enroll in a range of business-related courses. On the other side, the PGDM Finance programme specialises in finance and related fields. With the option to specialise in fields including corporate finance, investment banking, and financial analysis, students in this programme will take courses that are highly focused on accounting and finance.Read more
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Ques. Should I go for PGDM General in FORE Delhi or TAPMI PGDM BKFS if I want to go in the finance sector?

● Top Answer By Aditi Banerjee on 25 May 23

Ans. I feel for Finance, TAPMI would be a much better option because it is good for finances in the Tier 2 league. But if you wish to explore other fields, such as marketing, operations, or analytics, or if you are not entirely sure of your profession, choose the Fore Delhi PGDM. Without a doubt, Fore is a top university, and your geographic location gives you an advantage. Additionally, placements this year have been excellent for all tier institutions.Read more
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Ques. Which course in TAPMI is better, the core PGDM, the HRM, or BKFS?

● Top Answer By Divya Kaur on 02 May 23

Ans. What's most important is that you enjoy it. The BKFS program is highly specialized and designed to equip students with the tools necessary to succeed in any financial-related field. The PGDM's first year emphasizes variety over specialization. Two years into the program, you'll have the option to focus on either Marketing, Operations, or Finance. It's up to you to determine the kind of career you want to have. Everything in the new system will be up to the individual, replacing both the major and minor systems. Although the HR course is brand new, it will be just as rigorous and cover the same ground as other courses.Read more
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Ques. Which one between IMI Delhi B&FS and TAPMI BKFS should one choose?

● Top Answer By Sagarika Dasgupta on 01 May 23

Ans. If you want to specialize in finance and want a career in that area, you should choose TAPMI PGDM(B&FS). If you're unsure which area to go into, you should choose PGDM. In the first three terms, you'll learn about all the different fields, and then in the second year, you'll choose your specialization. Having said that, let me tell you that if your choice is based on a brand name, you need to sit down and think about what you want to get out of the next two years while you are getting your degree. If you stay in NCR, you'll always have a lot of chances to work outside of your schoolwork.Read more
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Ques. Is it worth doing a BKFS PGDM from TAPMI?

● Top Answer By Hitesh Takran on 27 Apr 23

Ans. The infrastructure, faculties, and other facilities are similar in all TAPMI courses. So, it boils down to the placements of BFSI. With an average package of 15.7 lakhs per year, the Manipal-based TA Pai Management Institute (TAPMI) boasts 100% placement in the PGDM-BKFS (Post Graduation Diploma in Management - Banking and Financial Services) program for the class of 2021–23. The highest package awarded this year was Rs 22.3 lakh; the top 10 students received average CTCs of Rs 21.7 lakh. The highest package awarded this year was Rs 22.3 lakh; the top 10 students received average CTCs of Rs 21.7 lakh. All 59 of the students who qualified for placements were distributed among 21 different companies. Of these, pre-placement through summer internships was offered to 17 students, with an average compensation of 15.7 lakhs. However, it totally depends on your interest in doing PGDM in finance. If you are interested in any other domain, then BFSI is not for you.Read more
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Ques. Which is better, IMI Delhi BF&S or Great Lakes Chennai PGDM, considering I have no particular inclination towards finance but IMI is the bigger brand?

● Top Answer By Nikhil Chaturvedi on 16 Mar 23

Ans.  If you have the option of dropping a year and preparing for CAT, XAT, or other entrance exams, it may be worth considering. You can use the extra time to study and improve your scores, which could lead to better opportunities in the future. However, if you have decided to pursue an MBA this year, there are several factors to consider before choosing between IMI and GLIM. You should look at the return on investment (ROI), fees, faculty, location, and placement records of both institutions to determine which one is a better fit for you. It is important to note that neither the Business Forensic & Fraud Management (BF&S) program at IMI nor the Post Graduate Diploma in Management (PGDM) program at GLIM are the flagship programs of their respective institutions. You may want to research the other programs offered by each school to see if they align with your career goals. Personally, I would recommend GLIM over IMI. However, you should make your decision based on your own research and preferences, taking into account factors such as the curriculum, faculty, industry connections, and career prospects. It is important to choose a program that aligns with your career aspirations and provides the best value for your investment in terms of education, skills, and networking opportunities.Read more
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Ques. Which is better LBSIM, Delhi PGDM (general) or IMI, Delhi PGDM (B&FS)?

● Top Answer By Amay Singh on 03 Mar 23

Ans. PGDM BFS is a viable option if you are keen about numbers and finance in general. PGDM core and PGDM BFS rarely has a major difference in curriculum except that marketing subjects of BFS would be less intriguing and the major pedagogy is directed towards marketing of finance products and services only. A PGDM core student is open to a plethora of opportunities during placements as he is eligible to appear for companies offering marketing and sales profiles. On the contrary, a PGDM BFS student has been exposed to a customized curriculum that focuses mainly on Finance and lacks a wide range of opportunities. However, he has a more definite chance of securing placement at a company offering Finance roles like Banks and other financial institutions. This advantage seems very minimal right now but with the increase in the relevance of the curriculum and demand of the course, it will soon be coveted among Finance aspirants. The BFS faculties are considered to be among the best given the excellent performance of BFS students in the recent years and the increasing popularity of the course. The companies visiting the campus for BFS are not only banks but include AMCs, NBFCs, FinTechs and other Fin Services firms. The course targets the entire Banking and Finance sector.  At the end of the day, what remains of your college life is not the specific course you chose but the college you chose to pursue it. Be it PGDM Core or PGDM BFS, IMI Delhi is the perfect college to experience a great college life.Read more
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Ques. Which is better, a PGDM in banking and financial services at IMI, Delhi or a PGDM general in LBSIM, Delhi?

● Top Answer By Rajan Patel on 03 Mar 23

Ans. I can speak with certainty that PGDM at LBSIM is a far better option than PGDM in Financial services at IMI Delhi. My brother is a recent pass out from LBSIM and the following highlight of the institute are based on his personal experiences  The IIRF ranks LBSIM 25th among private colleges It has a spectacular ROI in terms of placements and fees LBSIM is famous for its student culture You can get an insight into various angles of the industry you will be dealing with in the future  You can avail an abundance of opportunities through live projects and get to have a detailed experience in your specialization. The institute prioritizes a practical approach over theoretical knowledge through academic activities outside the classroom Various academic and non-academic clubs make the environment a friendly one  The institute boasts of a 100% placement record It has an elaborate alumni network that is spread across top companies like Big Four’s, Arcesium, Marsh & Mclennan, Asian Paints, Crisil LBSIM collaborates with various international universities for its student exchange program. Some of them include Nanyang Technological University, Singapore, Northern Illinois University, USA, European Higher School of Economics and Management, Bulgaria etc. A unique feature of the B School is its Bloomberg Terminal which is restricted to the top B Schools like IIM B, IIM C, and FMS only. All these points clearly state that LBSIM is a very good choice for a PGDM program.Read more
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Ques. Which school is better, MDI Gurgaon or IIM K, if I want to be an equity research analyst?

● Top Answer By Yash Gupta on 22 Feb 23

Ans. If you go to the official website and compare the placement reports, MDI Gurgaon fares better than IIM Kozhikode. Let’s have a look at the placement statistics of the 2 B Schools.   Particulars  MDI IIM Kozhikode  Number of Recruiters  87 116 Highest CTC INR 1.14 CPA INR 61.5 LPA Average CTC INR 26.65 LPA INR 29.5 LPA Top Recruiters  Microsoft, Google, HCL, Adobe Accenture, Amazon, Microsoft The best finance companies that offer roles like Equity Research Analyst roles, and Securities analysis visit both the B Schools. But the higher number of companies visiting MDI Gurgaon gives it a slight advantage over IIM Kozhikode. Yet I think both MDI Gurgaon and IIM-K are almost equal in terms of giving you the opportunity of getting an Equity Research Analyst role. If I was in your place I would have chosen MDI Gurgaon because of the following factors Location Infrastructure  The industry-academia relationship Live Projects Guest Lectures Corporate Talks Peer learningRead more
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Ques. Which college is better for Finance among IMT Ghaziabad (PGDM) & TAPMI BKFS?

● Top Answer By Manmeet Singh on 27 Jan 23

Ans. IMT is a well-established college and comparing it to a mediocre college like TAPMI is not justifiable. Of the two, IMT Ghaziabad is clearly a better choice. To explain further I have compared both these institutes on the basis of some parameters like Establishment: Both these institutes were established in 1980 so they carry an equal legacy. Alumni: Despite a similar legacy, IMT Ghaziabad alumni are placed in higher positions and top firms today. The extensive alumni network has opened gates for corporate and industry exposure. IMT Ghaziabad’s alumni comprise more than 300 CXOs. Location: IMT Ghaziabad enjoys a better location advantage over TAPMI Pedagogy: Both the Institutes are AACSB accredited and follow similar curriculums yet there is a stark difference in the quality of education. This is because of the better pedagogy at IMT Ghaziabad than at TAPMI. Faculty: IMT Ghaziabad's teaching methodology is way ahead of that of TAPMI and the credit goes to its excellent faculty with amazing profiles. They have great industry exposure and help the students grasp the concepts practically. Placements: IMT Ghaziabad has an upper hand in this aspect also. This can be explained further through the table below Particulars  IMT Ghaziabad  TAPMI Number of recruiters 130+ 21 Highest CTC INR 62 LPA INR 22.3 LPA Average CTC INR 15.28 LPA INR 15.7 LPA Top Recruiters  Morgan Stanley, BCG, Accenture Consulting, Goldman Sachs, Google, Infosys Consulting, Emami International, TATA Consumer Product  EY, HDFC Bank, HSBC Bank, Tata Capital From the table you can easily infer that the placement scenario is far better at IMT Ghaziabad than TAPMI. In fact in almost all aspects IMT Ghaziabad is way ahead so it’s definitely a better choice than TAPMI.Read more
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