• Banking sector: Grads, CAs, ICWAs, MBAs, needed!
  • This sector has been doing well for quite a sometime. The profile which are going to be in demand are financial advisors and insurance sales.
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  • <strong>THE</strong> banking industry, along with allied verticals, will have better growth than last year because of favourable borrowing climate. Apart from consumer borrowing, industries like Infrastructure are heavy on borrowing. Consent to foreign banks for opening branches is also adding to the growth.“So in the last one year, just one quarter has seen banks opening up anywhere between 20-80 branches,” apprises Anand, an analyst. One branch opens up job opportunities for a minimum of 25-30 people. But even then, the fact remains that the sector still has not penetrated more than 14 percent of the eligible population.<br /> <br />  </p> <ul> <li><a href="http://careers360.com/news/5685-Careers-in-different-sectors_jobs_skills_profiles" target="_self">Click here</a> to read about <strong>Top 10 sectors </strong></li> </ul> <p style="text-align: justify;"><strong> <table height="314" cellspacing="1" cellpadding="1" border="0" align="right" width="163"> <tbody> <tr> <td> <table cellspacing="1" cellpadding="5" border="1" width="132" style="width: 132px; height: 315px;"> <tbody> <tr> <td> <table cellspacing="1" cellpadding="5" border="1" width="86" style="width: 86px; height: 126px;"> <tbody> <tr> <td><img height="86" width="120" alt="" src="/careers360_cms/newsimages/image/april_2011_krishna/shiv-agarwal_120(1).jpg" /></td> </tr> <tr> <td> <p style="text-align: justify;"><strong>Shiv Agrawal, <br /> </strong>CEO,<br /> ABC Consultants</p> </td> </tr> </tbody> </table> <p style="text-align: left;">“BFSI has been doing well since quite some time and is again going to grow because penetration of banking and insurance is still low if you see the figure on a national scale”</p> </td> </tr> </tbody> </table> </td> </tr> </tbody> </table> <br /> Where are the jobs?</strong><br /> While financial intermediaries segment offers the maximum numbers, high- quality, high-pay jobs are in the Banking and Insurance sector. The marketing function dominates the financial intermediaries sections; functional areas dominate the banking sector.</p> <p style="text-align: justify;">“This sector has been doing well for quite some time and is again going to grow because penetration of banking and insurance is still low if you see the figure on a national scale,” says Shiv Agrawal of ABC Consultants. According to him, the profiles which are going to be in demand are financial advisors and insurance sales.</p> <p style="text-align: justify;"><strong>What are the skills?</strong><br /> The premier qualification that opens the doors to this sector remains CA/ CS and MBA with specialisation in Finance. MBAs with ability to do acute risk assessment would find tremendous opportunities in the sector.</p> <p style="text-align: justify;">But the maximum number of opportunity lies in financial intermediary skills. Ability to understand a product, communicate its benefits and risks well, assess the level of risk and returns are the core skills required here. “If you know how to keep the interest of the consumer in the mind, financial products sales is the most lucrative field,” says Raghuraman, an independent financial advisor. But the job demands quite a bit of physical stamina, and mental alertness. In fact, when ICICI Prudential recruits its trainees,</p> <p style="text-align: justify;">one of the slides in the presentation says that the executives must be willing to slog it out in the initial years. “It is not a kushy job,” concurs Karna Dharmapuri, a middle manager at an insurance firm. But the adrenaline rush one gets once you close a one crore insurance policy is unmatched, he gushes. “It is a challenging sector and the money is quite good,” he concludes. </p> <p style="text-align: justify;"> <table cellspacing="1" cellpadding="5" border="1" style="width: 713px; height: 117px;"> <tbody> <tr> <td bgcolor="#2864af" align="left"><span style="color: rgb(255, 255, 255);"><strong>Education Level</strong></span></td> <td bgcolor="#2864af" align="left"><span style="color: rgb(255, 255, 255);"><strong>% of people</strong></span></td> <td bgcolor="#2864af" align="left"><span style="color: rgb(255, 255, 255);"><strong>Functional area assigned</strong></span></td> </tr> <tr> <td> <p>MBA, CA, CS, ICWA</p> </td> <td> <p>50-60%</p> </td> <td> <p>Corporate banking, Treasury, Compliance, Risk, Credit, HR, Management</p> </td> </tr> <tr> <td> <p>Other Graduates</p> </td> <td>20-30%</td> <td> <p>Back office operations, Retail banking, Support functions</p> </td> </tr> <tr> <td> <p>Engineers</p> </td> <td> <p> 10-20%</p> </td> <td> <p>IT, Retail banking, Back office operations</p> </td> </tr> </tbody> </table> </p> <p style="text-align: justify;">  <table cellspacing="1" cellpadding="5" border="1" style="width: 717px; height: 199px;"> <tbody> <tr> <td bgcolor="#2864af"><span style="color: rgb(255, 255, 255);"><strong>Name of sub-sector</strong></span></td> <td bgcolor="#2864af"><span style="color: rgb(255, 255, 255);"><strong>2008 (000's)</strong></span></td> <td bgcolor="#2864af"><span style="color: rgb(255, 255, 255);"><strong>2022 </strong></span></td> <td bgcolor="#2864af"><span style="color: rgb(255, 255, 255);"><strong>Incremental</strong></span></td> </tr> <tr> <td> <p>Banking</p> </td> <td> <p>1100-1200</p> </td> <td> <p>1400-1500</p> </td> <td>350</td> </tr> <tr> <td>Insurance</td> <td> <p>200-300</p> </td> <td> <p>350-400</p> </td> <td>150</td> </tr> <tr> <td>NBFC</td> <td> <p>25-30</p> </td> <td> <p>40-45</p> </td> <td>10</td> </tr> <tr> <td> <p>Mutual Funds</p> </td> <td> <p>15-20</p> </td> <td> <p>20-25</p> </td> <td>15</td> </tr> <tr> <td> <p>Financial Intermediaries</p> </td> <td> <p>2500-3000</p> </td> <td> <p>6000-7000</p> </td> <td>3700</td> </tr> <tr> <td> <p><strong>Total </strong></p> </td> <td> <p><strong>4250</strong></p> </td> <td> <p><strong>8500 </strong></p> </td> <td><strong>4250</strong></td> </tr> </tbody> </table> </p></li><li style="clear:both;width:720px;border-bottom:2px white solid;"></li><li><b>Published on</b>: April 20, 2011</li><li class="tellshare_btn" style='display:inline'><div class="tellsharediv"><ul class="cmnt_ul" style='list-style-type:none'><li style='display:inline;float:left;padding:10px 4px 0px 170px;'><a href="printstory.aspx?newsid=5798"><img src='images/Kodak_printer-thumb-450x329.jpg' style='width:20px;height:14px;' alt='print' /></a></li><li style='padding: 10px 4px 0px 3px; display: inline; float: left;'>|</li><li 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class="print" >Post a comment</a>  |  <a style='cursor:pointer;display:inline' href='../subscribe_newsletter.aspx' class="print" >Subscribe to newsletter</a></li><li style='display:inline' class="addcommspace"></li></ul></div></li><li class="newscomnts">1 Comments </li><div style=clear:both;width:600px;height:1px;></div><li class="crtd_by">upma singh |<span class="datecolor" > May 20, 2011</span></li><li class="cmmnt_space"></li><br><li style='list-style:none;text-align:justify;'>hi, i'm an mba(ib)-hr passout from AMITY,n hve got 4 months experience in hr field..if there's any suitable opening 4r me kindlyy let me know..... thanxxx & regards, upma singh</li><div style=clear:both;width:600px;></div><li class="newscomnts"> </li></ul></div> <a name="commentsdiv" style="text-decoration: none;"> <div id="ctl00_ContentPlaceHolder1_hidden_div" class="cmntdiv1"> <ul class="cmnt_ul"> <li class="addadd">Post a comment </li> <li class="space_li"></li> <li class="space_li1">Name<span style="color: 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