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The State Bank of India has been attracting engineers and MBA graduates in droves in its recruitment for probationary officers and clerks, a top SBI official has revealed.
The Mumbai-headquartered bank is in the process of recruiting about 1,800 probationary officers and 5,400 clerks, this year.
The bank has been attracting applications from a wide range of candidates, as the job scenario elsewhere remains bleak and public sector banks are seen to be offering jobs with better pay at the entry level.
The annual compensation on a cost-to-company basis for POs at Mumbai is around Rs8,40,000 or about Rs70,000 a month. The total starting pay for a clerical cadre employee in a metro like Mumbai is around Rs17,500 a month.
JN Misra, Deputy Managing Director and Corporate Development Officer, SBI said, “About 60 per cent of the 1,800 officers are engineers and about 10-20 per cent are MBA graduates. They apply because at the entry level, our pay package is quite good compared to the industry.”
Misra also revealed that bulk of the engineers applying for officer position is from the information and technology domain.
He said that candidates cite the public sector tag, trust and job security as the reasons for looking to a bank job. Also, he added, most applicants are engineers because most of the students these days don’t pursue courses like B.Sc. or M.Sc.
When SBI advertised for 1,500 posts in the probationary officer cadre in 2013, a record 17 lakh candidates applied for the post. In other words, 1,133 applicants were vying for a single position at the country’s top bank making the odds of clearing the exam exponentially difficult.
In 2014, the bank received 18.83 lakh applications for the 1,837 vacancies for probationary officers (POs) or a whopping 1,025 aspirants vying for every slot. As for clerical recruitment, the bank received 23 lakh applications for 5,092 vacancies or about 452 applications for every vacancy.
And it is not just the officer position that is attracting engineers or MBA graduates, even clerical posts are eliciting applications from these graduates.
“For clerical positions too, we are getting MBAs,” Misra added.
It is estimated that about half-a-million bank employees will retire from public sector banks over the next five years. It is therefore, not surprising that these banks have been on a massive recruitment drive over the last couple of years.
Source : The Hindu
The Mumbai-headquartered bank is in the process of recruiting about 1,800 probationary officers and 5,400 clerks, this year.
The bank has been attracting applications from a wide range of candidates, as the job scenario elsewhere remains bleak and public sector banks are seen to be offering jobs with better pay at the entry level.
The annual compensation on a cost-to-company basis for POs at Mumbai is around Rs8,40,000 or about Rs70,000 a month. The total starting pay for a clerical cadre employee in a metro like Mumbai is around Rs17,500 a month.
JN Misra, Deputy Managing Director and Corporate Development Officer, SBI said, “About 60 per cent of the 1,800 officers are engineers and about 10-20 per cent are MBA graduates. They apply because at the entry level, our pay package is quite good compared to the industry.”
Misra also revealed that bulk of the engineers applying for officer position is from the information and technology domain.
He said that candidates cite the public sector tag, trust and job security as the reasons for looking to a bank job. Also, he added, most applicants are engineers because most of the students these days don’t pursue courses like B.Sc. or M.Sc.
When SBI advertised for 1,500 posts in the probationary officer cadre in 2013, a record 17 lakh candidates applied for the post. In other words, 1,133 applicants were vying for a single position at the country’s top bank making the odds of clearing the exam exponentially difficult.
In 2014, the bank received 18.83 lakh applications for the 1,837 vacancies for probationary officers (POs) or a whopping 1,025 aspirants vying for every slot. As for clerical recruitment, the bank received 23 lakh applications for 5,092 vacancies or about 452 applications for every vacancy.
And it is not just the officer position that is attracting engineers or MBA graduates, even clerical posts are eliciting applications from these graduates.
“For clerical positions too, we are getting MBAs,” Misra added.
It is estimated that about half-a-million bank employees will retire from public sector banks over the next five years. It is therefore, not surprising that these banks have been on a massive recruitment drive over the last couple of years.
Source : The Hindu
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