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Bank Managers hold an important role in safeguarding financial stability by managing and overseeing banking operations, assessing risks and developing strategies to ensure the economic well-being of their clients and institutions. They facilitate economic growth, support businesses and help individuals achieve their financial goals with their expertise.
Apart from the composite salary structure of Bank Managers employed across government banks, some of the other factors that act as a catalyst for bank managers to work in public sector banks include, retirement benefits, pension schemes and other associated employee benefits. The average salary of a Bank Manager working in SBI is INR 9 LPA while that of working in Union Bank of India is INR 6 LPA. Their salary can vary based on factors like skills, experience and location. A senior Bank Manager with experience of 10 years or above can easily earn up to INR 12.33 LPA.
Read:
| Role of a Bank Manager | Qualification of a Bank Manager | Bank Manager Jobs | How to Become a Bank Manager after 12th |
Government jobs for Bank Managers is steadily gaining momentum in India. These jobs are highly sought after because of their job security and stability. There is a growing number of skilled professionals aspiring to secure government banking positions. The different sections in the article discuss various job opportunities for Bank Managers across the government sector along with their average salaries.
Who are Bank Managers
Bank Managers are individuals responsible for the overall operations of a bank branch or a specific department. Other than the day-to-day activities, they are also responsible for the financial performance of their assigned branch or department. They are crucial for the efficient and effective operability of the bank while adhering to the regulatory requirements.
Bank Managers can be of many types based on their specialisations. A branch manager is responsible for the everyday working of a specific bank branch, a regional manager oversees multiple branches within a region, the risk manager is responsible for identifying and mitigating risks faced by the bank and many more based on their roles.
Jobs for Bank Managers
Bank Managers oversee the everyday activities of a specific bank branch or department within a bank, ensuring efficient customer service and staff management. Based on their roles and responsibilities within a financial institution, Bank Managers can be categorised into various types. Branch managers, regional managers, assistant managers and risk managers are some of the most common types.
Tabulated below is the job description of Bank Managers across government banks along with their average salaries for each specialisation.
| Bank Manager Profile | Job description | Average Salary (INR) |
|---|---|---|
| Branch Manager | Responsible for the day-to-day working of a specific bank branch. | 6 L |
| Regional Manager | Oversee multiple branches within a specific geographic region. | 10.9 L |
| Assistant Manager | Works under the supervision of branch or regional manager and assist in branch operation. | 6.7 L |
| Relationship Manager | Focus on building and maintaining relationships with high-net-worth individuals, businesses or institutional clients. | 3.5 L |
| Credit Manager | Assess the creditworthiness of loan applications and make decisions on loan approvals or denials. | 6 L |
| Risk Manager | Responsible for identifying and mitigating various types of risks faced by the bank. | 10.2 L |
| Compliance Manager | Oversee the bank’s adherence to regulatory requirements and industry standards. | 9.5 L |
| Operations Manager | Responsible for the efficiency and effectiveness of various operational processes within the bank. | 7 L |
Government Jobs for Bank Managers
Government jobs for Bank Managers offer stability, competitive salaries and a chance to contribute to the country’s financial sector. Government jobs are preferred over private ones by candidates over a number of factors. However, Bank Managers in both sectors have good earnings.
Some of the top government jobs for Bank Managers across various parameters along with their average salaries are discussed below.
Experience Wise
The salaries of Bank Managers are heavily affected by their experience. Tabulated below is the experience-wise salary of Bank Managers employed across various government banks.
| Experience Years | Average Annual Salary (INR) |
|---|---|
| 0 - 5 years | 5.78 L |
| 6 - 10 years | 6.25 L |
| 11 - 15 years | 7.55 L |
| 16 - 20 years | 8.82 L |
| 20 years & above | 10 L |
Qualification Wise
There are many courses in finance and business administration that can be considered to become a Bank Manager. The qualification-wise salaries are mentioned in the table below.
| Qualification | Average Annual Salary (INR) |
|---|---|
| BCom | 2 - 5.4 L |
| BCom in Banking and Insurance | 2 - 20 L |
| BCom in Banking and Financing | 3.4 L |
| BBA | 2.5 - 10 L |
| BBA in Banking and Insurance | 2 - 6 L |
| MCom | 5 - 15 L |
| MCom in Banking and Insurance | 4 L |
| MBA in Finance Management | 3 - 9 L |
| MBA in Banking and Insurance | 3 - 20 L |
City Wise
The salary of Bank Managers vary widely based on their locations. The Bank Manager salaries across different Indian cities are mentioned in the table below.
| City | Average Annual Salary (INR) |
|---|---|
| New Delhi | 9.2 L |
| Bangalore | 8.8 L |
| Hyderabad | 8.6 L |
| Chennai | 7.5 L |
| Pune | 7.5 L |
| Mumbai | 7.2 L |
Sector Wise
Bank Managers are employed in banks across both public and private sectors. A government Bank Manager often earns more and enjoys several benefits. The sector-wise salaries for Bank Managers are mentioned in the table below.
| Sector | Average Annual Salary (INR) |
|---|---|
| Government Sector | 8 - 12 L |
| Private Sector | 7 L |
Govt Bank Manager Jobs
Candidates typically need a bachelor’s degree in finance, gain experience and work their way up through the ranks to become a Bank Manager. Some of the top government jobs for Bank Managers along with their average salaries are tabulated below.
| Job | Offering Institute | Average Salary (INR) |
|---|---|---|
| Assistant Manager | IIFCL | 80,000 |
| Assistant Manager | LIC HFL | 80,110 |
| Chief Manager/ Senior Manager | Central Bank of India | 63,840 - 89,890 |
| Manager/ Chief Manager | Union Bank of India | 48,170 - 89,890 |
| Chief Risk Officer | Punjab National Bank | - |
| Chief Risk Officer | UCO Bank | As per bank rules |
| Group Chief Compliance Officer | Canara Bank | - |
| Chief Risk Officer | CBHFL | 15 - 18 LPA |
Top Recruiters
Bank Managers can find job opportunities in a number of government banks. Some of the top government recruiters are mentioned in the table below.
| Name of the Institute | Location |
|---|---|
| SBI | Mumbai |
| Union Bank of India | Mumbai |
| UCO Bank | Across the country |
| Axis Bank | Across the country |
| IBPS | Mumbai |
| RBI | Mumbai |
| Indian Bank | Chennai |
Bank Manager Government Jobs: FAQs
Ques. What are government jobs for Bank Managers in India?
Ans. Government jobs for Bank Managers refer to managerial positions in government banks, where candidates are selected through competitive exams conducted by bodies like the IBPS and RBI.
Ques. What qualifications are required to become a Bank Manager in government banks?
Ans. To become a Bank Manager in government banks, candidates are required to possess a bachelor’s degree in fields like finance, economics or business administration and then pass a competitive exam to get selected.
Ques. How can I apply for government Bank Manager jobs?
Ans. Candidates have to regularly check the official websites of public sector banks for job notifications. Additionally, they will be needed to register and appear in the competitive exams.
Ques. Name some top skills that a Bank Manager should have.
Ans. Statistical analysis, interpersonal skills, accountability, commercial awareness and time management are some of the top skills that a Bank Manager should possess.
Ques. What is the age limit for government Bank Manager jobs?
Ans. The age limit may vary based on the specific position and the bank. 21 to 30 years of age is the normal range for most of the positions.
Ques. Are there opportunities for career growth for Bank Managers in the government sector?
Ans. There are ample opportunities for career growth in the government banking sector. Bank Managers can advance to higher positions like AGM, DGM and GM.
Ques. What are the benefits that government Bank Managers enjoy?
Ans. Competitive salary, job security, pension and access to various allowances and perks are some of the top benefits received by government Bank Managers.
Ques. Name some top government recruiters of Bank Managers in India.
Ans. RBI, SBI and nationalised banks like PNB and BOB are some of the top government recruiters of Bank Managers in India.
Ques. Is an Interview mandatory for all the Banking Exams in India?
Ans. No, an interview is not mandatory for all banking exams. There are many exams like IBPS Clerk that do not have an interview as a part of the selection process.
Ques. Name some top colleges for pursuing a career as a Bank Manager.
Ans. NMIMS, MAHE, Parul University, Mumbai University and Calicut University are some of the top colleges for pursuing a career as a Bank Manager.
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