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To become a Banker, students must clear class 12 from a recognised board and then pursue graduation in finance or economics. The Salary of a Banker can vary according to their designation, experience and bank in India. The average annual salary of a Banker in India is INR 10 LPA. While the monthly salary ranges from INR 71,683 to INR 83,147 with the highest salary being INR 42 LPA and in certain cases even above. The salary of a Banker also depends on the types of bankers or the expertise that one has mastered such as Investment Bankers, Bank Managers, Probationary Officers and others.
Table of Contents
- Career as a Banker: Quick Facts
- Eligibility to Become a Banker in India
- Qualifications to Become a Banker in India
- Steps to Become a Banker
- Banking Courses
5.1 Entrance Exams
Career as a Banker: Quick Facts
| Eligibility | Students with Class 12 with 50% aggregate marks in commerce or any stream |
| Qualifications | Bachelor’s degree in Commerce or Management field |
| Starting Salary (INR) | INR 2.40 LPA |
| Average Salary (INR) | INR 6.13 LPA |
| Highest Salary (INR) | INR 15 LPA & above |
| Top Recruiters | Reserve Bank of India, State Bank of India, IDFC Bank, HDFC Bank, HSBC Bank, Standard Chartered Bank |
Eligibility to Become a Banker
To become a Banker in India, students must clear class 12 from a recognised board with a minimum aggregate score of 50% or above. After class 12, they have to enrol in different commerce courses like B.Com and BBA. Students can also opt for postgraduate courses after the completion of their bachelor’s degree.
The eligibility for Bankers differs in different banks. The standard eligibility criteria to become a banker are explained in the following steps -
- The first step in becoming a banker is passing class 12 from a recognised board with a minimum of 50% marks. Commerce stream is preferred but students from other streams are also eligible.
- After clearing class 12, students should enrol in banking or finance graduate courses. B.Com, BA in Finance/Economics, BBA in Finance and B.Sc in Statistics are some of the popular courses.
- Though students can apply for banker jobs after graduation, it is advised to get a postgraduate degree for better career prospects. MBA in Financial Management and MS in Finance are two of the top courses.
- Pursuing an internship can significantly help students in obtaining their desired jobs. Students get to learn the basic working of a bank and learn the latest skills in internships. They also stood out in the competition through their internship certificates.
Read More:
Qualifications to Become a Banker
A banker performs various financial services for businesses, organisations and clients like managing accounts and investments, processing loans, advising clients, etc. To become a Banker, students at least need to have a graduate degree in commerce or finance. A postgraduate can help in career growth along with experience in different positions. Some general qualifications that are required to become a banker in India include.
- Education: Students need to have a graduate degree to apply for banker jobs. B.Com, BA in Finance/Economics, BBA in Finance and B.Sc in Statistics are some of the popular courses. Master’s courses like MS and MBA can help in career growth and better pay.
- Certifications/Diplomas: Certifications and diplomas act as a perfect source for students to learn skills in a short period. They are also recognised by employers and hold value like CFA (Chartered Financial Analyst) and CPA (Chartered Public Accountant).
- Experience: Entry-level positions in banking require little to no experience. So students can apply for them in the beginning and gradually go to higher designations.
- Skills: Strong analytical skills, customer service skills, communication and interpersonal skills and financial skills are some of the top skills that a banker should possess.
Read: How to Become a Bank Manager
Steps to Become a Banker
Becoming a Banker in India is a multi-step process starting from the student’s school and going way up to graduation/postgraduation. The steps to becoming a Banker are explained in the following points:
- Complete Class 12 - The first step in becoming a Banker is completing class 12 from a recognised board. Students need to secure at least 50% marks preferably in the commerce stream.
- Earn a Graduate degree - A graduate degree in commerce or finance is a must for students looking for a career in banking. The students learn the banking fundamentals that help them in their career endeavours.
- Apply for Competitive Examinations - Grade B Officer by RBI, BPS PO/SO are some of the exams for which students can apply. Clearing a competitive exam can significantly change a student’s banking career as it opens new opportunities with better pay.
- Get a Postgraduate degree - Though it is not necessary, earning a master’s degree can help students in getting a better understanding of advanced banking and financial concepts. A master’s degree like MBA dramatically improves the chances of getting hired.
- Enrol in an Internship - An internship is one of the most essential things in a banker’s career. Students get to learn and understand the proper working of a bank and its processes through an internship. Internship teaches valuable banking skills and makes students job ready.
Students can apply for internships at both graduate and postgraduate levels.
Also Check: Steps to Become an Investment Banker
Banking Courses
There are many courses that can be pursued by students to become a Banker. BCom, BBA, Bachelor in Banking and Finance/Economics, Bachelor in Banking and Insurance (BBI), MCom, MSc and MBA in Banking and Finance are some of the top courses available. The details for the most popular courses are mentioned in the following table.
| Parameters | BCom | BBA | MBA |
|---|---|---|---|
| Eligibility | Class 12 | Class 12 | Graduation from any stream |
| Entrance Exams | CUET, IPU CET, NPAT, AIMA UGAT, SUAT | DU JAT, IPU CET, NPAT | CUET PG, CMAT, GMAT, CAT, MAT, SNAP, MAH CET |
| Top Colleges | Delhi University, Calcutta University, Mumbai University | DU, NMIMS Mumbai, SSCBS New Delhi, IIM Rohtak, ICFAI Hyderabad | IIM Ahmedabad, IIM Bangalore, IIM Calcutta, IIM Delhi, IIM Kozhikode, IIM Indore |
| Course Fees | INR 2,500 – INR 65,000 | INR 50,000 – INR 2,00,000 | INR 23,00,000 |
| Average Salary (INR) | INR 20,000 – 45,000 per month | INR 25,000 per month | INR 7,00,000 to INR 9,00,000 |
| Top Recruiters | Deloitte, KPMG, Ernst & Young, Pwc | HP, Microsoft, IBM, Deloitte | Amazon, Tesla, Deloitte, HDFC Bank, Nestle, KPMG |
Read: Courses to Become a Data Scientist
Entrance Exams
There are many entrance examinations for becoming a banker in India. These exams are highly competitive and require diligent preparation. Some of the most famous entrance exams for banking include CAT, CMAT, MAT, XAT and NPAT. The details for some of the top exams for banking are mentioned in the following table.
Course Entrance Exams
| Entrance Exams | Application Deadlines | Exam Dates | Result Declaration |
|---|---|---|---|
| CAT | Till September 2024 | November 2024 | December 2024 |
| XAT | July 15, 2023 Onwards | January 7, 2024 | January 20, 2024 |
| CMAT | Till 2nd week of March 2024 | 1st week of May 2024 | Last week of May, 2024 |
| MAT | Till 1st week of May 2024 | Last week of May 2024 | July 2024 |
Job Entrance Exams
| Entrance Exams | Application Deadlines | Exam Dates | Result Declaration |
|---|---|---|---|
| IBPS PO | August 2023 | Prelims - September 23, 30 and October 1, 2023 Mains - November 5, 2023 |
December 2023 |
| SBI PO | May 2023 | Prelims - December 2023 Mains - January 2024 |
To be notified |
| SBI Clerk | September 2023 | January 2024 | To be notified |
| IBPS Clerk | June 2023 | Prelims - August 26, 27 and September 2, 2023 Mains - October 7, 2023 |
To be notified |
Top Banking Colleges
There are many good colleges in India that offer various courses in commerce and finance for students looking for a career in banking. Delhi University, Jamia Millia Islamia University, NISM, NMIMS, Amity University, etc are some of the best colleges for banking. The details for top banking colleges are mentioned n the table below.
| Name of the Colleges | Location | Average Fees (INR) |
|---|---|---|
| Delhi University | Delhi | INR 10,965 |
| Jamia Millia Islamia | Delhi | INR 7,200 |
| NMIMS | Mumbai | INR 32,000 |
| Mumbai University | Mumbai | INR 3,680 |
| Christ University | Bangalore | INR 2,55,000 |
| K.P.B. Hinduja College of Commerce | Mumbai | INR 9,326 |
| IIM Calcutta | Calcutta | INR 23,00,000 |
| Indian School Of Business | Hyderabad | INR 30,46,000 |
| Xavier’s Institute of Management | Mumbai | INR 70,000 |
| SRCC | New Delhi | INR 29,605 |
Skills Required to Become a Banker
Banker is a complex and dynamic profession requiring individuals to possess a diverse set of skills. Bankers need to have a deep understanding of the financial sector and its intricacies. Some of the top skills that a Banker should have are tabulated below. Read More: What Does an Investment Banker Do?
| Financial Knowledge | Analytical Skills | Communication Skills |
| Problem-solving skills | Time Management | Adaptability |
| Teamwork | Multi-tasking skills | Attention to Detail |
Benefits of Becoming a Banker
There are numerous benefits to pursuing a career as a Banker. Some of the key benefits include -
- Job Stability - Banks play an essential role in the economy and their services are always in demand. The banking industry is one of the most stable globally.
- Career Growth Options - Banking has a wide range of job roles and opportunities. With experience and skills, individuals can advance to higher positions quickly.
- Competitive Pay - The salaries and benefits packages in the banking industry are one of the best. Bankers are well compensated for their skills and expertise.
- Exposure to Diverse Industries - Bankers deal with clients with different backgrounds allowing them to understand the complexities of various businesses.
- Professional Development - Many banks provide their employees with opportunities for training and development. This help bankers in staying up to date with the latest skills and trends.
- Networking Opportunities - Banking allows professionals to build contacts with different people that can be valuable throughout their careers.
Salary of a Banker
The average annual salary of a Banker in India is INR 3 LPA. The compensation varies according to banks and positions. The pay ranges from INR 10,900 per month to INR 71,300 per month at the start of the career. The average starting salary of a Banker in India is INR 1.2 LPA with the highest salary being INR 8 LPA.
The estimated monthly salary of a banker in India is between INR 21,683 to INR 23,147. The salaries for different banker designations are mentioned in the following table. Read More: Company-Wise Salary of a Banker
| Designations | Average Annual Salary (INR) |
|---|---|
| Branch Manager | 5.9 L |
| Sales Manager | 5.2 L |
| Officer | 3.3 L |
| Deputy Manager | 8.5 L |
| Financial Accountant | 4 L |
| Risk Manager | 11 L |
| Certified Public Accountant (CPA) | 7 L |
| Investment Banker | 10 L |
| Equity Analyst | 4 L |
Career as a Banker: FAQs
Ques. Are there any short-term courses available for Bankers?
Ans. For students who do not want to enrol in full-time courses, they can opt for Diploma and Certificate courses in Banking or Finance.
Ques. Name some top recruiters of Bankers in India.
Ans. Reserve Bank of India, State Bank of India, IDFC Bank, HDFC Bank, HSBC Bank and Standard Chartered Bank are some of the top recruiters for Bankers in India.
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. 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. What are the top colleges for banking education in India?
Ans. Delhi University, Jamia Millia Islamia, NMIMS, Christ University, Mumbai University, etc are some of the top colleges for banking in India.



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