It is one of the most asked questions for banking jobs for engineering graduate freshers.
Traditionally, bank roles have been thought to be filled by commerce graduates or MBA graduates. With the sheer number of engineers India produces year after year, that picture has altered dramatically in the past decade. More engineers are opting for banking professions right after graduating from engineering school. Yes, engineers can work in banks.
Do you have a BTech degree that you recently completed? Are you unsure what to do next? Engineering as a vocation has attracted many students throughout the world, as evidenced by the high number of candidates that take engineering admission examinations each year. While some continue studying this subject, others either begin their professional careers or seek other alternatives.
Many engineering graduates have pursued careers in the banking sector, among other disciplines. It’s a once-in-a-lifetime opportunity for individuals wishing to change occupations. The finance industry is one of the most profitable, fascinating, dynamic, and rising industries in India and worldwide. If you’re wondering if you can work in the banking industry after graduating from engineering, here’s a detailed blog that will explain the important components of the business and how engineering graduates might profit from a job in this sector.
Reasons why you should choose banking?
- Banks have been the first to adopt new technology as the times have changed. As an engineer, you should keep up with the newest technological developments.
- Engineers are needed in ATMs, Internet Banking, Mobile Banking, and Credit/Debit Card Management.
- Engineers have exceptional mathematical and analytical abilities, which the work needs.
- Stability – Jobs in IT/Core Engineering are notoriously insecure. If you’re searching for a steady and well-paying job, banking is a great place to start.
- In today’s world, every bank has an IT department. You can learn bank software (at least the fundamentals), which will be quite useful.
Finacle, BANCS, and FlexCube are examples of popular banking software. They should be easy to learn for engineers.
Some of the best software engineering courses from Great Learning are available online to help you start your journey.
What kinds of jobs do engineers do in finance?
Don’t assume you’ll be a computer scientist at a bank since you have a computer science or electrical engineering degree.
According to a study [1], only 24% of engineers who left other fields to work in finance ended up doing classic ‘engineering tasks,’ such as working on banks’ IT systems. Although this percentage may be somewhat overestimated due to the researchers’ lack of understanding of banking job titles (they assumed that analyst and vice-chairperson weren’t working in IT, which wasn’t the case…), 76 percent of them moved into other occupations such as trading.
For thousands of students, the banking industry is one of the most attractive job alternatives. You can build the flexibility to work with a wide range of clients and colleagues across sectors and nations if you have a diverse cultural background. A career in banking offers the door to infinite options across many industries, from Investment Banker and Probationary Officer to Budget and Financial Analyst. Pursuing a profession in this sector allows you to participate in and contribute to your country’s economic prosperity. Engineering graduates have begun to shift their professional paths and gain experience in banking and finance. Here are some of the most compelling arguments for people seeking an answer to the question, “Can a software engineer pursue banking after engineering?”
Avail the Opportunity to Switch Careers
Many kids with a strong interest in science choose engineering as a career path after high school. While some know why they want to pursue a career in this industry, others discover their passion after finishing the program. It allows pupils to look into different professions, such as banking. Following a career in banking after engineering is a great alternative for people searching for a change. Banking is one of the most profitable, diversified, and appealing sectors, with chances worldwide.
Job Security and Perks
Job security is a key consideration when beginning a career in a certain industry. When economies worldwide are experiencing uneven development, having stable employment is essential in today’s world. Government employment in the banking industry gives better financial stability and security and comes with a slew of benefits and perks, such as lower-interest loans, gratuities, and lodging. Another reason why starting a career in banking following engineering might be advantageous. It’s worth noting that the Institute of Banking Personnel Selection (IBPS) and the State Bank of India both conduct tests for entry into the Indian banking industry.
Technological Advancements in the Banking Sector
Another important factor in why banking after engineering is conceivable is that banks have accepted new technologies and embraced the phenomenon of internet banking and cashless transactions as the digital era has progressed. Engineers are tech-savvy, and nowadays, almost every bank has an Information Technology (IT) department that mostly employs engineering graduates. So, following engineering, you might pursue a career in banking to learn more about how banks utilize digital technology and develop a successful career in the field!
Bottom Line
Banks will want to know why you’ve “suddenly” developed an interest in banking.
What were your whereabouts a few years ago? Did you consider banking when your banker acquaintance told you about their recent bonus?
You may be asked if you previously tried and failed to get into IB, and if so, why were you turned down?
You should be well-prepared for the obvious questions that banking firms will ask you, such as if you want to switch to banking for a higher salary. Is it because you’ve suddenly discovered that you want to “keep studying” or work with clients? Or that you want to be a “global influencer” somehow?
These might be valid reasons for you. Yes, Banking allows you to meet wonderful people and firms, you’ll learn a lot, and you’ll make a good salary with the option to retire early. However, askivy.et cautions that these are not why banks would recruit you. If you ask us, these are reasons why you should attempt to get into banks following engineering. Also, completing your engineering degree, you could look into IIT Madras online certification courses from Great learning to power ahead in your career and be at the forefront of innovation.
Banks would typically engage you to help firms with finance and mergers & acquisitions. Also, a thing to consider: if you aren’t interested in spending time on “menial work” on Excel, PowerPoint, and Word hammering out the specifics of a deal, you aren’t really cut out to be an investment banker.
