How to Become a Bank Manager?

“A banker is a fellow who lends you his umbrella when the sun is shining but wants it back the minute it begins to rain.” – Mark Twain. Are you someone who has a keen interest in the world of Banking? Do you possess the leadership qualities to lead and oversee the work of others? Do you think you will be good at handling customers? Then the career path of Bank Manager is the right one for you. As a Bank Manager, you will be entitled to consistent working hours, excellent pay, and exclusive opportunities to use your different range of interpersonal and business skills to help the customers. When you ponder over the question of how to become a Bank Manager, it is important to understand what this profile entails along with the courses you can pursue in this field. So, here is a blog that will elaborate on the key features of Bank Management and how you can pursue this field and become a Bank Manager.

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Career as a Bank Manager

Bank Management is the process of managing a bank’s statutory activities. In order to explore the process of how to become a Bank Manager, it is significant to know the central objectives of Bank Management which is building optimal and organic systems of interaction between the different banking mechanisms to ensure profit maximization. It is basically characterised by the management of specific domains like the financial management of banking activities. Bank management largely determines the use of effective methods of “profitability-risk” ratio in bank lending operations. This field requires you to have the ability to take reasonable risks. 

Exploring the question of how to become a Bank Manager, following are the key factors that this field is comprised of: 

• Planning Quality 
• Liquidity Management
• Management Expertise in Strategic Analysis, Policy Development, Planning and Management Functions
• Management of Risks like Interest Rate, Credit and Current Risks
• Unified Information Technology Systems 
• Control System Creations

Recommended Read: Banking Courses after Graduation

Skills Required 

In order to become a bank manager in near future, you must the following key skills:

• Interpersonal skills 
• Interpretation skills 
• Leadership qualities
• Teamwork spirit 
• Problem-solving skills 
• Skills with numbers 
• Administration 
• Customer service 
• People management 
• Organisational skills 
• Communication

Key Responsibilities of a Bank Manager

A Bank Manager requires essential leadership skills along with interpersonal skills to interact with the customers along with leading their team and strive towards bettering the performance of the bank. Handling this position, you will have different responsibilities such as looking over the different aspects of a bank branch and increasing sales of financial products like loans, managing the banking teams, attracting new customers, etc. 

Supervising a bank branch, a Bank Manager needs to have expertise in handling different operations of a bank. They generally report to the bank’s regional manager and oversee the performance of the bank’s employees. Following are the key responsibilities of a Bank Manager that you need to keep in mind while understanding the answers to how to become a Bank Manager: 

• Increasing the bank’s performance 
• Leading the bank’s personnel
• Providing recent updates to the customers and reporting to the bank’s regional manager
• Performing different day-to-day banking operations

Types of Bank Managers

There are many job profiles and job roles that are available for the post of a Bank Manager and/or have equivalent respect and status. 

• Branch Manager 
• Mortgage Broker 
• Financial Planner 
• Service Manager 
• CA (Chartered Accountant)
• Investment Bank Manager 
• Financial Advisor 
• Wealth Manager 
• Loan Counsellor 
• Loan Advisor

Educational Qualifications of a Bank Manager

Here are the major educational qualifications demanded by candidates applying for the role of Bank Manager in India:

• Candidates must be having a bachelor’s degree in business administration/commerce/finance or any other relevant/equivalent field of study.
• Banks ideally prefer candidates who have at least completed their graduation (UG) in accounting, finance, commerce or business administration from a recognised university.
• Candidates having a masters degree in business administration/ commerce/ finance/ accounting or any other relevant/equivalent field of study may have the advantage to apply for higher positions and job profiles. 
• Apart from education qualification, candidates who are eager to become a bank manager must also have at least 3 years of work experience too. 
• Major private banks in India and abroad prefer candidates who have specific training and are certified. For example Certified Public Accountant (CPA) or Certified Financial Planner (CFP).

Check Out: What is the Role of Bank PO?

Top Courses in Bank Management

There are numerous courses offered by leading international colleges for those wanting to explore Bank Management. Here is a list of Banking courses that can equip you with key skills and knowledge required to be a Bank Manager: 

Also Read: Diploma in Banking and Finance

Top Universities Abroad

A wide range of courses is provided in the field of Bank Management by major global universities around the world. Below listed are the top universities that are renowned for their courses in Bank Management & Finance-related specialisations:

Related Read: Scope of MBA in Finance

Salary of Bank Manager

When it comes to pursuing your career as a Bank Manager, you can expect a lucrative salary along with added benefits and security. The salary of a Bank PO in India ranges from 5 Lakhs INR to 10 Lakhs INR at the joining level and further increase with more experience. Moreover, the salary of a SBI PO is 8 Lakhs to 13 Lakhs INR and the in-hand salary is 40,000 INR to 42,000 INR.

In India, a bank manager that has experience of over 7 years and has good communication and leadership qualities accompanied by good knowledge about the banking system, commerce, and finance can earn up to INR 10,00,000 per annum and even more. 

How to Become a Bank Manager in India?

The recruitment procedure of becoming a bank manager in India is quite different from other countries. Considered amongst the best jobs in India, aspirants must clear bank exams in order to opt for a banking job and the examinations and recruitment procedures mainly vary for public sector and private sector banks. These bank exams include SBI, IBPS, RBI, NABARD exams, amongst others which are mainly for varied roles in a bank ranging from probationary officers to clerical positions. Let’s take a look at the three main streams you can choose from for banking recruitments in India:

1. If you are aiming to opt for posts available in public sector banks, the Institute of Banking Personnel Selection (IBPS) conducts recruitment exams for posts like the Probationary Officer, Clerk, Specialist Offer (IBPS SO)as well as RRB exams which you can appear for. There are a large number of public sector, private sector and co-op banks that are the participating institutions accepting IBPS exam scores for open vacancies. If you aspire to work in SBI then you must opt for IBPS PO exams through which the State Bank of India recruits candidates.
2. Another way to become a bank manager is to opt for a specialised postgraduate diploma or degree program in Banking [complete list given in the next section] as many private banks like Syndicate Bank, Kotak Bank, ICICI Bank, Indian Overseas Bank, etc. are associated with certain universities and hire best-fit candidates by carrying out yearly placement drives for MBA in Banking or PG Diploma in Banking/Finance graduates.
3. For the emerging private banks, the recruitment process has become more direct as these banks generally put up notifications on their website when vacancies are available where you can send your application for different posts.

Preparing for IBPS exams? Check Out Books for Bank Exams & Bank Exam Preparation Apps

Top Universities in India 

Given below is the list of top Indian Colleges and universities for PG and UG programs related to baking, finance and management, to pursue a career as a bank manager. 

1. Indian School of Business, Hyderabad 
2. Indian Institute of Management (IIMs)
3. Faculty of Management Studies (FMS), New Delhi 
4. National Institute of Securities Markets, Mumbai 
5. MICA, Ahmedabad 
6. Institute of Public Enterprise, Hyderabad
7. Aligarh Muslim University, Aligarh
8. Goa Institute of Management, Goa
9. Guru Gobind Singh Indraprastha University, Delhi
10. University of Delhi (DU), Delhi
11. Amity University, Noida
12. Symbiosis International, Pune 
13. Hindustan Institute of Technology and Science, Chennai
14. Chandigarh University, Chandigarh 
15. UPES, Dehradun 

How to Become Bank Manager after 12th?

To become a bank manager after 12th, you must first pursue your bachelor’s degree preferably in Commerce, Finance or Banking. Here is the career map on how to become bank manager after 12th:

• Study BCom or BBA in Commerce, Finance, or Banking-related specializations. Here are the best courses to become a bank manager after 12th:
  • BCom in Banking 
  • BBA (Hons) Finance and Banking 
  • Bachelor of Business and Commerce in Banking and Finance 
  • BCom in Taxation and Finance
• While pursuing your bachelor’s degree, you must also start preparing for bank exams like Bank PO, IBPS, RRB, etc.
• Once you have completed your bachelor’s, then you can also opt for an MBA in Banking or Finance to get a competitive edge over other graduates.

Know All About Building a Career in Banking!

How to Become SBI Bank Manager?

To become an SBI Bank Manager, you would first have to crack the aptitude test by SBI for different posts like, PO, Clerk or SO and then appear for the interview to be successfully selected. There are 3 types of bank manager posts under SBI recruitment:

• SBI Probationary Officer [SBI PO]
• SBI Clerk
• SBI Specialist Officer [SBI SO]

Here are the qualifications you need to fulfil to become an SBI Bank Manager:

There are certain work experience requirements needed for SBI SO recruitment which you can check out here!

How to Become a Bank Manager in ICICI?

Here are the requirements to become a branch manager in ICICI:

• Bachelor’s degree or master’s degree in any specialisation
• Minimum Work Experience: 5 years
• Maximum Work Experience: 10 years

Must Explore: How to Prepare for Bank Exams?

How to Become a Bank Manager After 10th?

Bank manager is only a title for a profession that entails a wide range of responsibilities. After 10th grade, study Commerce if you want to be the perfect manager with a thorough grasp of the courses involved. Because passion is essential for making decisions in every sector, including profession. Commerce is the ideal topic to study if you want to work in the banking industry.

Every student is required by CBSE to take five subjects in class 11th as per the guidelines by CBSE. The subjects which a student may choose if he or she wants to become a bank manager in the future can be:

• Accountancy (Compulsory)
• Accountancy (Compulsory)
• Economics (Compulsory)
• English (Compulsory)
• Mathematics (Optional)

However, this is insufficient. MBA is the ideal qualification or degree to take as part of your graduation in order to become a bank manager. Complete your secondary school with a decent grade, and then you may pursue your ambition of graduation and post-graduate. You can even give IBPS/SBI PO/NABARD etc bank exams to join PSBs and campus recruitments for private banks.

Top Recruiting Banks in India 

If you wish to become a bank manager one day, then these are the banks that you must be targeting to become a future bank manager in India. These are:

1. State Bank of India (SBI)
2. Axis Bank 
3. HDFC Bank 
4. ICICI Bank 
5. Kotak Mahindra Bank 
6. Yes Bank 
7. IDBI Bank 
8. Induslnd Bank 
9. Bank of Baroda

Getting from PO to Bank Manager

Generally, bank POs are provided with job training in several centres and departments to provide them with the requisite knowledge of how banks operate. Further, they are entrusted with handling the independent operations of a particular section or department under the post of Assistant Managers in the Junior Management Scale. In order to become a bank manager, you must know that there are certain scales for Junior Management which you need to clear once you get the position of probationary officer.

Many banks carry out a test when the training-cum-probation period of candidates concludes and this pre-confirmation and promotion test plays an imperative role in gauging their knowledge about different aspects of banking and how trained they are in handling a higher role. After this test, your performance will be analysed and if promoted you can then be transferred to Junior Management Scale-II or either retained at Scale I only. Also, the bank branches in India are classified as Scale I, Scale Ii, Scale II, amongst others. After the promotion test, selected officers with the relevant scale are major promoted to the post of Bank Managers as per their relevant grade branches.

Advantages of Becoming a Bank Manager

1. A decent pay is one of the primary advantages of being a bank manager.
2. You will be assigned a set number of hours to work each day. 
3. You are not required to work on weekends.
4. This profile will assist you in staying current on the newest banking and financial technology.
5. This profile is ideal for applicants with experience in finance and accounting.

Disadvantages of Becoming a Bank Manager

1. This position has a lot of competition.
2. A minimum of three to five years of work experience is necessary.
3. You should have strong leadership and management abilities.
4. You will be in charge of addressing client issues.

FAQs

We hope that this blog provided you with all the key information regarding the question of how to become a Bank Manager. Integrating the responsibilities of a manager with the context of Banking, this career field offers a plethora of opportunities for aspiring to explore Bank Management. Leverage Edu experts can guide you in selecting an ideal course in Bank Management that can equip you with the right knowledge and skill set of a Bank Manager.

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