Want to know How to become a Bank Manager? Well you have landed on the right article , A bank manager's primary role is to oversee the performance and success of various bank employees and banking personnel.
They are aware of a variety of aspects of branch operations and may be able to advise their banking staff on how to perform daily tasks and duties.
Bank executives are also in charge of ensuring that banking services and products are suitable for both present and future customers, as well as creating and promoting new products and services to potential investors
Responsibilities
Credit union, bank branch, and other financial institution managers are in charge of a wide range of tasks.
Bank managers are responsible for managing operational duties and resolving operational issues.
Bank managers oversee the collection of accounting and financial data, as well as the compilation of reports, budgets, and statutory returns.
Bank executives keep track of sales goals, promote and market the institution and its products, and guarantee that customers are treated well.
Bank executives present budget proposals to governing bodies, plan the most efficient use of resources and capital expenditure financing, and interpret financial performance and funding.
Career as a Bank Manager
A bank is a financial institution that accepts deposits, pays interest at predetermined rates, clears checks, makes loans, and serves as a financial middleman on a regular basis. It also provides a variety of financial services to its clients.
Bank management manages a multitude of topics relating to the bank in order to maximise income. Concerns include liquidity management, asset management, obligation management, and capital management.
Insurance companies, brokerage firms, and consultancies employ some bank managers.
In the financial industry, their education and unique set of hard and soft talents are incredibly important, leading to pay hikes and opportunities to enhance their professional careers.
A bank manager is in charge of a certain branch of a bank, as well as its personnel and day-to-day activities. They supervise the banking team, seek to improve revenue, and guarantee that customers receive exceptional service.
They're also responsible for attracting new consumers through hiring and training new employees, talking with customers, reviewing employee performance, and communicating with the local community.
These professionals may also be called upon to review loan applications and make important lending decisions.
Key factors that are important for a career as a bank manager:
Planning for Quality Liquidity Management
The functions of strategic analysis, policy development, planning, and management Expertise
Interest rates, credit, and current dangers are all monitored and controlled.
Unified Information Technology Systems (UITS) are used to create control systems.
Types of Bank Manager
There are various job profile and job roles that are comparable in regard and status to that of a bank manager.
Branch Manager
Financial Planner
Mortgage broker
Investment Bank Manager
Financial Advisor
Wealth Manager
Service Manager
CA (Chartered Accountant)
Loan Counsellor
Loan Advisor
How to Become a Bank Manager?
To become a bank manager one should pass following eligibility criteria:
Bank manager qualifications :
There are other job profiles and work functions that are comparable in regard and prestige to that of a Bank Manager. If you wish to be a bank manager, you should do the following steps:
- To work as a bank manager, you must have a bachelor's degree in finance or a closely connected field. A bachelor's degree in commerce (B.Com) or a bachelor's degree in business administration (B.B.A.) are two examples.
To be admitted to these programs, you must have completed the 12th grade with a minimum of 50% marks from a recognized school board such as C.B.S.E. You can finish your 12th grade in any subject, including arts, science, or commerce. - After receiving your bachelor's degree, you can work in a bank as an entry-level employee and gain relevant experience in order to advance to a position as a bank manager. Jobs in banking are accessible in both the commercial and public sectors.
- To work in the public banking industry, you must pass the Institute of Banking Personnel Selection's recruitment tests (IBPS). You can work as a probationary officer (PO), specialist officer, or clerk at a bank after passing this exam.
Minimum Age
- The age limit for bank management positions (Bank PO) should be between 21 and 30 years old.
- You must obtain a bachelor's degree (graduation) from your chosen college or university.
Skills Required
- Leadership
- Marking expertise.
- For Bank PO jobs, a bachelor's degree in business administration is also beneficial.
- A bachelor's degree in finance and accounting is also useful.
- A minimum of 60% of marks should be necessary for a graduation degree.
- Fitness Fundamentals.
- Any computer course or basic computer knowledge.
- Working in the financial industry will provide you an advantage (optional).
- Solving problems is a skill.
- Administration.
- Numeracy.
- Management of people.
- Customer service is really important.
- Interpersonal abilities
Top Universities
Major colleges throughout the world offer a comprehensive range of degrees in the field of banking management.
The following are the prominent universities known for their courses in bank management and finance-related specialisations:
Universities | Location |
|---|---|
London Business School | UK |
MIT Sloan | USA |
IE Business School | Spain |
SDA Bocconi | Milan. Italy |
HEC Paris | Paris |
UCLA Anderson | USA |
Oxford SAID | UK |
Esade Business School | Barcelona, Spain |
St. Gallen | Switzerland |
Imperial College Business School | UK |
Stanford GSB | USA |
Cambridge Judge | UK |
NYU Stern | USA |
Chicago Booth | USA |
Northwestern Kellogg | USA |
Pennsylvania Wharton | USA |
Top Courses in Bank Management
For people interested in learning more about bank management, renowned international universities offer a variety of courses.
Here's a list of banking courses that will help you gain the necessary skills and expertise to work as a bank manager:
Degree Banking Course
- Banking and Finance B.B.A.
- Bachelor of Commerce in Banking Management
- Bachelor of Commerce in Banking and Finance
- Bachelor of Commerce (Hons) in Banking and Finance
- Economics bachelor's degree
- Bachelor of Science in Banking and Finance
- Economics Master's Degree
- Master of Business Administration (MBA) in Banking and Taxation
- Master of Business Administration (MBA) in Banking and Finance
- Master of Business Administration in Banking and Insurance
- Master of Business Administration with a concentration in banking
- Master of Business Administration in Banking and Insurance Management
- Master of Business Administration in Banking, Finance, and Risk Management
- Master of Science in Banking and Finance
- MVoc in Banking, Securities, and Insurance
- Master's Degree in Banking, Finance, or Insurance
- Banking and Finance Ph.D.
- Investment Banking and Capital Markets Post-Graduate Program
- Banking BBA and MBA Integrated Course.
Diploma Banking Course - Banking Services Advanced Diploma Courses
- Banking and Finance Advanced Diploma
- Banking and Finance Diploma
- Banking and Insurance Diploma.
- Banking and Insurance Management Diploma
- Advanced Diploma in Cooperative Banking in Cities
- Banking Laws Diploma
- Banking Management Diploma
- Home Loan Services Diploma
- Banking Services Diploma
- Bank Management Post-Graduate Diploma
- Banking Post-Graduate Diploma
- Banking and Financial Management Post-Graduate Diploma
- Banking Operations Post-Graduate Diploma
- Development and Investment Banking Post-Graduate Diploma
- Banking and Finance Post-Graduate Diploma
- Retail Banking Post-Graduate Diploma
- Branch Banking Post-Graduate Diploma
- Islamic Banking and Finance Post-Graduate Diploma.
Certificate Banking Course - Investment Banking Post-Graduate Certificate
- Banking Certificate Program
- Banking Management Certificate Program
- Courses in drafting and/or patent research are available as certificates.
- Commercial Banking Professional Program (PPCB)
- Certificate in Banking Laws and Loan Management (Advanced)
- Program for Certified Bank Managers
- Auditor of Information Systems Certification (CISA)
- Professional in Information System Security Certification (CISSP)
- Manager of Information Security Certification (CISM)
- Ethical Hacker Certification (CEH)
- Certification in Financial Risk Management
- Certification in Professional Risk Management.
Many reputable Indian colleges offer training and instruction in banking and finance courses.
Xavier Labour Research Institute, Jamshedpur; JB Institute of Management Studies, Mumbai; Jawaharlal Nehru University, New Delhi; Institute of Management and Technical Studies, Noida;
Amity Business School, Gurgaon; Symbiosis Institute of Banking and Finance, Pune; NIIT University, Rajasthan; Indira Gandhi National Open University.
Work of Bank Manager
A bank manager is in charge of managing banking operations and staff performance to ensure that customers with banking needs and financial transactions receive the best possible service.
Bank managers assist staff in navigating the intricacies of operations, training new hires, and planning the expansion of services that will aid the bank's success.
They conduct fund audits and prepare accounts receivable reports at the end of the day. A bank manager is in charge of answering clients' queries and concerns, as well as settling complaints and resolving account disputes.
Recruiting new customers and guiding them through the onboarding process.
Account establishment and closing, as well as transaction control, are all part of managing client bank accounts.
Deposits, payments, and withdrawals are all handled in a timely manner.
Loans and overdrafts are approved and examined.
Handle other transactions as needed, such as writing cashier checks or money orders.
Based on the needs of the clients, banking services and products are recommended and explained.
Introducing current and new consumers to banking services and products and cross-selling them.
To deliver outstanding customer service, I collaborate with other banking specialists.
Client problems and questions are addressed.
Performing administrative and clerical chores such as data entry and filing as needed.
To be a successful banker, you must be able to communicate effectively in order to service and support a varied range of clients, as well as quickly and effectively resolve problems to ensure client satisfaction.
How to Become a Bank Manager After 12th
1. Get a basic education
A bachelor's degree in finance or a closely related discipline is required to work as a bank manager. Two examples are a bachelor's degree in commerce (B.Com) and a bachelor's degree in business administration (B.B.A.).
You must have finished the 12th grade with a minimum of 50% marks from a recognized school board such as C.B.S.E. to be eligible for these programs.
Any subject, including arts, science, and commerce, can be used to complete your 12th grade.
2. Gain some experience in banking sector
You can work as an entry-level employee in a bank after getting your bachelor's degree and gain relevant experience in order to move to a position as a bank manager. Banking jobs are available in both the private and public sectors.
The recruitment processes in these two industries are significantly different. You must pass the Institute of Banking Personnel Selection's recruitment tests to work in the public banking industry (IBPS).
After completing this exam, you can work as a probationary officer (PO), specialty officer, or bank clerk.
3. Go for a masters degree
Another path to become a bank manager is to earn a master's degree in finance or business administration from a renowned university.
A few banks, generally private banks, have affiliations with these colleges. They perform campus interviews on a regular basis to choose applicants for bank management jobs from the country's top colleges.
How to become Bank Manager in SBI
To be considered for a position as an SBI Bank Manager, you must first pass the SBI aptitude test for various roles such as PO, Clerk, or SO, and then attend an interview.
SBI hires bank managers in three different categories: Clerk at SBI Probationary Officer [SBI PO] is a position in the SBI.
It is necessary to have at least 12 years of relevant experience in financial services, financial product development, investment advisory, or private banking.
A minimum of 8 years of experience in wealth management is necessary. The total of 12 years of experience includes 8 years of experience.
You thrive in a variety of categories, including equity products, PMS, alternative investments, and mutual funds.
Experience in product development and structuring for private wealth clients National Management of Investment Counsellors/Advisors with Leading Banks/Financial Institutions Educational Qualification required:
Graduation or post-graduation from a renowned college or a government-approved university or institution. Knowledge and experience in market analytics, as well as a passion for economic trends and product research, are all ideal attributes.
Eligibility for Bank Manager :
The essential eligibility criteria for the various SBI examinations - PO, Clerk, and SO – are listed below:
- Educational Qualifications by Nationality
- SBI Age Restrictions
The SBI PO online test is divided into two phases:
- Prelims of SBI PO
- Mains of SBI PO
The eligibility criteria for the SBI SO exam are determined using the following parameters:
- Age Restrictions for SBI SO
- Workplace experience and educational qualifications
How to Become a Manager in ICICI Bank
The ICICI Bank is one of the country's biggest banks, with good job opportunities for freshers, graduates, and other professionals.
Industrial Credit and Investment Corporation of India is another name for ICICI Bank. It is a multinational banking and financial services corporation based in India.
The banking business, as we all know, is rapidly expanding, and many people wish to work in it. Pursuing that desire, however, has become incredibly difficult in today's competitive atmosphere. The banks are looking for motivated individuals with a lot of expertise.
ICICI Bank has a number of job openings in a variety of disciplines and departments, each with its unique application process. Some of the roles and ICICI Bank Recruitment programs are as follows:
Probationary Officer
Sales Administration
Business Administration
Eligibility for PO at ICICI Bank
The following are the key elements to remember about the ICICI PO Recruitment Exam eligibility criteria:
Applicants must be under the age of 25 as of December 30, 2017.
Those who were born before December 30, 1991, are ineligible to qualify.
Must hold a bachelor's or master's degree with an overall grade point average of at least 55 percent.
Candidates that are new to the job market are also welcome to apply.
Direct family members of any existing bank employee are ineligible to apply.
Top Recruiting Banks in India
If you've ever wanted to work in India's banking business, here's how you can get started. However, a word of caution: tens of thousands of students are using the same route, and you may become lost in the crowd.
Below are some of the top recruiting banks in India:
Axis Bank Ltd. is a private bank based in Mumbai, India.
Barclays Bank PLC is a British bank based in London.
BNP Paribas India's Central Bank
Credit Suisse Securities (India) Private Ltd. is a subsidiary of Credit Suisse.
Deutsche Equities India Private Ltd. is a private equity firm based in India.
Edelweiss Financial Services Ltd. is a company that specialises in financial services.
HDFC Bank Ltd. is a bank based in India.
HSBC Securities & Capital Markets (India) Private Ltd. is a subsidiary of HSBC.
ICICI Securities Ltd. is a financial services company based in India.
IDBI Capital Market Services Ltd. is a financial services company based in India.
JP Morgan India Private Ltd. is a subsidiary of JP Morgan.
Morgan Stanley India Co. Private Ltd. is a private company based in India.
Religare Capital Markets Ltd. is a company that specialises in financial services.
SBI Capital Markets Ltd. is a financial services firm based in Tokyo, Japan.
SMC Capitals Ltd. is a private equity firm based in London.
Salary of Bank Manager
In India, the average compensation for a bank manager is 60,000 rupees. To discover Bank Manager salaries in your area, sort by location.
A Bank Manager's average income is INR 7,87,500 per year (42,660 per month), which is INR 4,00,000 (+103%) more than India's national average salary.
The average starting compensation for a bank manager is INR 315,600. The greatest incomes can reach INR 200,000 or more. Any person from scale 1 to scale 6 can be appointed as a branch manager by the bank.
Sr. Managers and Chief Managers lead the majority of branches, although many rural branches are led by scale 1 or scale 2 officials.
Salary varies based on the position; for example, a scale 2 manager will cost the bank approximately Rs 7 to 9 lacs per year, depending on the bank where he works and the additional allowance he receives as part of his remuneration.
It is not possible for a branch manager to constantly be a branch manager; it is simply a distinct work description. Some banks also pay their branch managers a supplemental monthly stipend for their services.
Advantages of Becoming a Bank Manager
- Fulfilling career- Banking is a rewarding career choice for people who desire to serve others. By safeguarding, investing, and lending money, bankers perform an important role in society.
- Flexible schedule- The majority of bankers' schedules allow them to work nights, weekends, and holidays.
Banks, on the other hand, are opening more branches in more diversified places, such as within grocery stores and big-box shops, providing opportunity for those who want to work flexible hours. - Attractive Compensation- Compensation varies widely based on a person's position, tenure, and which bank she chooses to work for. Bankers, on the other hand, are frequently paid well.
- Generous Benefit Package- The majority of bankers have generous benefits packages. Medical, dental, and vision insurance are routinely provided by large banks to their bankers and their families.
Disadvantages of Being a Bank Manager
Working as a bank manager entails hard hours.
It's possible that you'll have to work on weekends as well.
There is a lack of work-life balance.
Many investment bankers experience mental health difficulties such as exhaustion.
During economic downturns, you may lose your job.
Being a bank manager is tough, but you are highly compensated for it. The salary package, which includes commission and perks, is rather decent.
Conclusion
Banking can be a rewarding career for those interested in finance, mathematics, and management.
The majority of bank managers have outstanding customer service skills as well as a deep understanding of banking operations and the development of financial strategies.
Learning more about this profession will help you decide if it's the correct path for you. I hope you liked our article on How to be Bank Manager, if you have any comments or suggestions do share them in the comments below.
Frequently Asked Questions (FAQs)
Q.Can I directly become a bank manager?
A bachelor's degree in any discipline, or a bachelor's degree in banking, is required to work as a manager in the banking industry.
Passing the bank's exam and having a good high school grade point average are also required.
Q.How do I become a bank manager?
A bachelor's degree in business administration/commerce/finance, or a related/equivalent discipline, is necessary.
Banks favour candidates who have earned a bachelor's degree (UG) in accounting, finance, commerce, or business administration from a reputable university.
Q.How do I become a SBI manager?
To be considered for a position as an SBI Bank Manager, you must first pass the SBI aptitude test for various roles such as PO, Clerk, or SO, and then attend an interview.
Q.What is the salary of a manager at SBI?
In India, the average compensation for a bank manager is 60,000 rupees. To discover Bank Manager salaries in your area, sort by location.