Career Progression
There is a well defined career progression path in each public sector bank. Performance and potential are key elements which determine this career progression. Most senior officials in public sector banks started their career as clerk or scale I officer only. In tune with the time banks have reviewed their promotion policy and now for bright, hardworking and knowledgeable employees it takes less time to move to higher scales. In many banks a person who joined as an officer may reach to the position of Genera Manager in 14 years. After that one can aspire for the position of executive director or chairman of a bank. These are very high positions, nomination to which is decided by the Government and not by the individual banks.
Many public sector banks have a network of foreign branches. Thus joining a public sector bank gives you the opportunity of working abroad also. Transferability in a bank job provides you the chance of seeing different parts of the country.
To Conclude
Public sector banks may not offer fancy financial packages which multinational and few other companies offer. But the compensation in these banks with the recent wage revision and including perquisites is quite good. And there is an element of job security too. The housing and medical facilities are also considered attractive.
The expansion mode in which public sector banks in India are, is creating large number of opportunities for young people to choose banking as their career.
Career progression of Officers
Junior Management Grade – Scale I: Officer
Middle Management Grade – Scale II: Manager
Middle Management Grade – Scale III: Senior Manager
Senior Management Grade – Scale IV: Chief Manager
Senior Management Grade Scale V: Assistant General Manager
Top Management Grade Scale VI: Deputy General Manager
Top Management Grade Scale VII: General Manager
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