The article talks about all the idealistic approaches if you are willing to make career change from engineering to banking. Engineering students have a quantitative and logical mind, it assumes that they can solve any critical, complex and statical problems easier than the students from other fields. Here is an article of Make Career Change From Engineering To Banking .
- Cracking The Banking Exam
- Qualification To Have A Banking Job
- Jump As A Professional
- Join As A Sales And Marketting
- Join MBA after a Bachelor’s degree in engineering
- Quantitative Finance
- Equity Analyst
- Starting Up Guidance
- The conclusion: Make Career Change from Engineering to Banking
- FAQs About Role Of Communication Skills
ENTRANCE EXAM QUESTIONS
Engineering students have a very fair chance to jump into the banking and finance sector as they have all the ability to enter into the banking and finance sector in various ways such as investment banking and risk management. Banking Credit Analysis, Finance management, equity research, and share marketer are some banking and finance designations that any engineering student could access only with short efforts of one year.orper mattis, pulvinar dapibus leo. Know More Details on SERVICES FOR WORKING PROFESSIONALS.
Cracking The Banking Exam
The first way if you are willing to make career change from engineering to banking is by appearing for banking selection exams conducting by IBPS for the various banks. IBPS examining to fill various positions like Clerk, PO, and specialist officer in 19 or 20 banks in India, other banks like RBI and NABARD have their separate selection process to IBPS. These are one of the toughest exams which require a good amount of time to get prepared. The selection process is done through three levels of exams; Prelims, Main exams, and interviews. After qualifying in the IBPS exams, separate banks further could have additional selection processes like, for some High-level Posts like Bank PO and specialist officer bank may require some kind of experience. The selection process requires good command over DI, Logical reasoning and in the English language.
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Qualification To Have A Banking Job
The different level requires different qualifications, for the clerk which is the lowest position require a bachelor’s degree sometime with 50% marks and, maximum age of 28. For the bank PO, you should have added some kind of experience; in some cases, it would be not necessary. Age should maximum of 30. For a financial accountant, you should have skills for analyzing and preparing budgets in business and finance. For an engineering student, the plus point is that the examinations consist of Maths, Reasoning and Aptitude section, and they are good at those high levels and critical thinking sections than other stream students. The second most important thing is you should have a good command of the English language to crack a banking exam. Know More Details on CAREER & JOB SWITCH GUIDANCE
Jump As A Professional
Many private banks conduct exams separately other than IBPS. After which aspirant should have to enroll for a one-year diploma course in banking in the university or college tie-up with the bank. After successful completion of the course bank would hire the candidates. To get a career in banking, you can also join the one-year Diploma of the two-year degree course in any field of banking on your own.
What is a diploma in banking and finance?
It is said to be a study of banking and finance related to dealing with the dynamics of finance sector. It aims for a candidate to have advanced skills to deal with financial crisis as well as bailouts for various banks across globe.
What job offers should you expect?
As the banking and financial sector is rapidly emerging so the candidate is expected to serve both in government sector and private sector.
Some of the job opportunities that a diploma holder is eligible for are banking officer, assistant manager, Financial consultant, financial analyst and data entry operator and many more.
ENTRANCE EXAM QUESTIONS
Join As A Sales And Marketting
As we suggested doing a professional banking course, after which you could apply for any bank and got hired by following their selection process. Having a professional degree you can also join any private banking of financial firm or can start your banking practice as an individual professional. The second option is you could join any private bank as a marketing and sales employee you would only need a bachelor’s degree. This is a challenging and stressful job and after a good performance, you could get promoted.
Roles and responsibilities of a sales and marketing manager
- Researching and developing marketing opportunities.
- Implementing new sales plans.
- Advertising and selling of a company’s product.
- Analyzing the market and strategizing to increase product awareness.
- Maintaining relationships with clients and anticipating new marketing opportunities.
Join MBA after a Bachelor's degree in engineering
Any career requires a minimum of three and a maximum of five years to settle down. If you have already consumed three years in doing a bachelor’s degree in engineering and want to turn into a banking job then you can join MBA with finance or marketing. During the MBA you can also appear for the campus selection process for any private or after the MBA could join any private bank as the sales and marketing job.
Roles and responsibilities of an MBA
- Establishing financial status by developing an organized system.
- Coordinating in annual audits and completing at a deadline.
- Maintaining MIS trackers.
- Collaborating with different departments and managing their processes.
- Monitoring day to day banking collection transactions.
- Providing suggestions to the management and team based on analytics.
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Quantitative Finance
This is one of the best options to make Career Change from Engineering to Banking. Quantitative finance is about analyzing the value of different financial instruments in the market like derivative securities and different government security. Quantitative Finance professionals perform banking credit analysis and risk management for banks and private financial institutions. This profession requires difficult mathematics calculations like statics, algebra, and probability, very relevant for engineering students. Finance engineering is an advanced version of quantitative finance, it includes theoretical research work with the use of the algorithm and C++ techniques. We can say this is more analytical work. So overall quantitative finance has the most reliability and similarity to what an engineer does.
Equity Analyst
Share market is another option to jump into the banking and finance sector and equity analyst is a very relevant job for engineering students as the job requires critical data work. Equity analyst studies the financial instruments of any organization and prepares the reports. Many private organizations, NBFC, and investment bankers hire equity analysts. There diploma and degree courses available after which you can start practicing and could apply for positions in many organizations.
Roles and responsibilities of a Equity Analyst
- Collecting and analyzing securities data such as industry related stocks and bonds.
- Forecasting financial gains and losses using data modeling software and methodologies.
- Preparing and reporting financial reports.
- Suggesting what securities to buy, sell or hold.
- Analyzing financial reports of the company to determine market performance.
- Being aware of latest news on company sales and mergers.
ENTRANCE EXAM QUESTIONS
STARTING UP GUIDANCE
Starting up a business can be a daunting task, even for the most seasoned entrepreneurs. While some individuals may have a great idea, it takes much more than that to turn it into a successful venture. The process of starting a business requires careful planning, strategy, and execution, and it is essential to have the right guidance and support to navigate this process successfully.
Starting a business involves complying with various legal and regulatory requirements. These can include registering the business, obtaining licenses and permits, and ensuring compliance with tax and employment laws. A Starting Up Guidance course provides entrepreneurs with an understanding of these requirements and how to comply with them. It also provides information on intellectual property protection, liability, and insurance. Know More Details on Starting up Guidance.
The conclusion : Make Career Change from Engineering to Banking
The article concludes with all the points you should acknowledge if you are willing to make career change from engineering to banking.
For a holistic view of what’s best for an individual, he/she should be driven to the right path upon an ability orientated approach.
As someone wisely said “if we look for several options while choosing a chair, shouldn’t we look for options for deciding a career which leads your whole life?”
Many countries have recently faced an economic meltdown but fortunately India has been least impacted by the financial and banking sector. The banking industry grows daily in India, which ultimately states that there is an increasing demand for jobs. That is why the banking and financial sector has an excellent career in India because banks give young talents a wide range of opportunities. As the government begins to open public banks in rural towns, employee needs are increasingly growing and candidates ready to work in this sector have a good chance.
Though, changing a career might look like a hard nut to crack but the above points will help you choose wisely. We hope we cleared all your where abouts related to the above topic “Make Career Change From Engineering To Banking”.
FAQs ABOUT CAREER CHANGE FROM ENGINEERING TO BANKING
Yes, it is possible to transition from an engineering career to a banking career. While the two fields may seem different, there are transferable skills and knowledge that can be valuable in the banking sector. With the right preparation, networking, and relevant qualifications, you can make a successful career change.
Engineering skills can be valuable in the banking sector. Problem-solving skills, analytical thinking, attention to detail, and a strong quantitative background are highly sought after in banking roles. Additionally, engineering projects often involve teamwork, project management, and communication skills, which can be useful in client-facing or managerial positions in banking.
Here are some steps you can take to transition from engineering to banking:
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Research the banking industry: Learn about different roles, career paths, and the skills required in the banking sector. This will help you identify the areas that align with your interests and qualifications.
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Gain relevant knowledge and qualifications: Consider pursuing additional education or certifications that are relevant to the banking sector. This could include taking courses in finance, accounting, or business administration. Obtaining certifications such as the Chartered Financial Analyst (CFA) designation can also enhance your credentials.
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Network with professionals in the banking industry: Attend banking events, join professional organizations, and connect with individuals working in the banking sector. Networking can help you gain insights, learn about job opportunities, and build relationships that may lead to potential job referrals.
Depending on your qualifications and experience, starting at an entry-level position in banking when making a career change is common. Entry-level roles allow you to gain practical banking experience and learn the industry-specific knowledge required for more senior positions. However, your engineering background and transferable skills may accelerate your progression within the banking sector.
Engineers often possess strong quantitative and analytical skills, which can be beneficial in areas such as risk management, financial analysis, investment banking, and technology within the banking sector. These roles often require a strong technical background and an ability to analyze complex data, which aligns well with engineering skills.
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