How to Become a Bank Manager : Empower Your Journey to Become a Bank Manager 2023-24

Are you interested in banking? Do you have leadership skills and enjoy working with customers? If so, becoming a Bank Manager might be the right career for you. As a Bank Manager, you’ll have stable working hours, good pay, and opportunities to use your people and business skills to assist customers. To understand how to become a Bank Manager, it’s important to learn about the job and the courses you can take to enter this field. In this blog, we’ll explain the main aspects of Bank Management and how you can pursue this career path.

A career as a Bank Manager involves overseeing a bank’s operations. To understand how to become a Bank Manager, it’s important to grasp the primary goals of Bank Management, which revolve around creating efficient systems for different bank functions to maximize profits. This includes managing aspects like finances and assessing the risk-profit balance in lending.

When you’re considering how to become a Bank Manager, here are the main elements of this field:

1. Planning Quality: You’ll need to excel in planning and decision-making.
2. Liquidity Management: Managing the availability of funds for daily operations is crucial.
3. Management Expertise: You’ll need skills in strategic analysis, policy development, planning, and general management tasks.
4. Risk Management: Handling various risks, such as interest rate, credit, and current risks, is a key aspect.
5. Unified Information Technology Systems: Familiarity with modern technology systems is essential.
6. Control System Development: Implementing systems to ensure effective control over banking operations is part of the job.

Becoming a successful Bank Manager requires a combination of these skills and knowledge in the field of banking.

Skills Required

In order to become a bank manager in the 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
• Organizational skills
• Communication

Key Responsibilites of a Bank Manager

A Bank Manager needs strong leadership and interpersonal skills to interact with customers, lead their team, and improve the bank’s performance. Their responsibilities include overseeing various aspects of a bank branch, boosting the sales of financial products like loans, managing bank staff, and attracting new customers. They report to the regional manager and supervise bank employees. Here are the key responsibilities of a Bank Manager:

1. Enhancing Bank Performance: Improving the overall performance of the bank.
2. Leading Staff: Managing and leading the bank’s personnel.
3. Customer Updates: Providing updates to customers and reporting to the regional manager.
4. Daily Banking Operations: Overseeing day-to-day banking activities.

There are various types of Bank Managers, such as Branch Managers, Mortgage Brokers, Financial Planners, Service Managers, Chartered Accountants (CA), Investment Bank Managers, Financial Advisors, Wealth Managers, Loan Counsellors, and Loan Advisors.

Educational qualifications for a Bank Manager in India typically include:

• A bachelor’s degree in business administration, commerce, finance, or a related field.
• Many banks prefer candidates with an undergraduate degree in accounting, finance, commerce, or business administration from a recognized university.
• Having a master’s degree in business administration, commerce, finance, accounting, or a related field can be advantageous for higher positions.
• Candidates aspiring to become bank managers should also have at least 3 years of work experience.
• Major private banks in India and abroad may prefer candidates with specific training and certifications, like Certified Public Accountant (CPA) or Certified Financial Planner (CFP).

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 the key skills and knowledge required to be a Bank Manager:

Degree Level	Courses in Banking
Undergraduate	BBA in Banking and Finance BBA in Finance BBA in Accounting B.Com B.Com (Hons) B.Com in Banking and Finance BCom in Taxation and Finance Bachelor of Banking and Finance Law Bachelor of Science in Accounting, Banking, and Finance BA (Hons) International Banking and Finance
Postgraduate	MSc in Banking and Finance MSc in International Banking and Finance LLMin International Banking MSc in Banking and Risk Management MBA in Banking and Finance MBAin Global Banking and Finance MCom (Banking) Master of Banking and Finance Law MBA in Finance Management MCom in Taxation and Finance
Doctorate	PhDin Business Administration – Banking and Finance PhD in Economics/Accounting/Banking/Finance/Management Studies

 

How to Become a Bank Manager in India?

To become a Bank Manager in India, you need to follow specific steps and pass bank exams, which can vary depending on whether you want to work in public sector or private sector banks. Here’s an overview of how to pursue this career path:

1. Public Sector Banks:

• The Institute of Banking Personnel Selection (IBPS) conducts recruitment exams for various positions in public sector banks.
• These positions include Probationary Officer (PO), Clerk, and Specialist Officer (IBPS SO), as well as Regional Rural Bank (RRB) exams.
• Many public sector, private sector, and cooperative banks accept IBPS exam scores for hiring candidates.
• If you aspire to work specifically for the State Bank of India (SBI), you should appear for the IBPS PO exams, as SBI recruits candidates through this process.

2. Private Sector Banks:

• Private banks like Syndicate Bank, Kotak Bank, ICICI Bank, Indian Overseas Bank, and others often have associations with universities.
• They hire candidates through yearly placement drives, especially those who have completed specialized postgraduate diploma or degree programs in Banking or Finance.
• Pursuing an MBA in Banking or completing a PG Diploma in Banking/Finance can be beneficial if you want to work in these private banks.

3. Emerging Private Banks:

• Some newer private banks follow a more direct recruitment process.
• They typically announce job vacancies on their websites, allowing interested candidates to apply for various positions.

In summary, to become a Bank Manager in India, you should start by determining whether you want to work in public sector or private sector banks. Then, you can prepare for the relevant bank exams or pursue specialized education programs to enhance your chances of getting hired in the banking industry. Keep an eye on job openings if you’re interested in emerging private banks.

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 completing 12th, you should follow these steps:

1. Bachelor’s Degree: Start by pursuing a bachelor’s degree, preferably in fields like Commerce, Finance, or Banking. Here are some recommended courses:
   • BCom in Banking
   • BBA (Hons) Finance and Banking
   • Bachelor of Business and Commerce in Banking and Finance
   • BCom in Taxation and Finance
2. Bank Exam Preparation: While working on your bachelor’s degree, begin preparing for relevant bank exams such as Bank PO, IBPS, RRB, and others. These exams are crucial for entering the banking sector.
3. Advanced Education (Optional): After completing your bachelor’s degree, you can consider pursuing an MBA in Banking or Finance. This advanced degree can provide you with a competitive advantage over other graduates and further enhance your qualifications for a bank manager position.

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 fulfill to become an SBI Bank Manager:

SBI Bank Manager	Age	Education
SBI PO	21 years to 30 years	Bachelor’s degree in any field
SBI Clerk	20 years to 28 years	Bachelor’s degree in any field
SBI SO	Differs	Bachelor’s degree to Master’s degree [differs]

Advancing from a Probationary Officer (PO) to the role of a Bank Manager in India follows a structured path:

1. Training Phase: Initially, as a Bank PO, you receive comprehensive training across different banking departments to build a strong understanding of how banks function.
2. Assistant Manager Responsibilities: After your training, you typically step into the shoes of an Assistant Manager in the Junior Management Scale. This role allows you to handle the day-to-day operations of a specific department or section.
3. Clearing Junior Management Stages: To progress towards the coveted Bank Manager position, you must successfully navigate through the various Junior Management stages once you’re a PO. Towards the end of your probation period, banks often administer tests to gauge your knowledge of banking intricacies and readiness for more significant responsibilities.
4. Performance Assessment: Your performance in these promotion tests becomes a pivotal factor. If you meet the required standards, you might be moved to Junior Management Scale II or remain in Scale I, depending on the branch’s classification.

Advantages of Being a Bank Manager:

• Competitive Salary: Bank Managers enjoy a respectable income in the banking sector.
• Consistent Working Hours: Typically, Bank Managers have regular working hours and are not obliged to work weekends.
• Staying Updated: This role keeps you well-informed about the latest developments in banking and financial technology.
• Ideal for Finance Experts: Bank Manager positions are particularly appealing for individuals with a background in finance and accounting.

Transitioning from a PO to a Bank Manager hinges on your ability to showcase your expertise and effectiveness in banking operations and leadership, as validated through promotions and performance evaluations. Click here to get banking entrance exams books.

FAQs

How long does it take to become a bank manager?

To become a bank manager, you typically need at least two years of experience, preferably five. Gaining experience often begins during college with internships or part-time work. Many aspiring managers start their careers as loan officers or accountants before advancing to assistant manager roles and eventually becoming managers.

What is the exam for bank managers?

To become a bank manager in India, you often start as a Bank Probationary Officer (Bank PO), which is a management-level position in several Public Sector Banks. The two most important exams for this are the SBI PO exam and the IBPS PO exam.

What is the minimum salary of a bank manager?

Bank Branch Manager salaries in India can range from 26,800 INR (the lowest) to 90,100 INR (the highest).

Which bank exam is easy?

Among all banking exams in India, the IBPS RRB (Regional Rural Bank) exam is generally considered the easiest to pass.

Which subjects are best for bank managers?

Degrees relevant to banking include business, economics, finance, management, and marketing. While specific A levels aren’t required, knowledge in subjects like business, economics, statistics, and mathematics can be beneficial.

Is banking a good career?

Banking is often seen as a good career choice for several reasons, including competitive salaries, job security, stability, and additional benefits such as low-interest rates on loans, medical coverage, and pension benefits. It’s a sector that provides both financial rewards and professional stability.