Why Banking After Engineering?

Did you recently complete your BTech degree? Not sure about what to do after it?

Globally, engineering as a career has attracted numerous students which is evident through how a large number of applicants appear for engineering entrance exams every year. While some continue in this field by pursuing higher education, the others either start their professional career or look for other opportunities.

Amongst many fields, a career in the banking sector has attracted many Engineering graduates. It is a golden chance for those who are looking to switch their careers. The Finance sector is one of the most lucrative, exciting, dynamic, and growing sectors both in India and abroad.

Opting for a career in Finance, you can explore varied opportunities to work in the international market. If you’re wondering why banking after engineering, here is a comprehensive blog that will shed light on the major aspects of the field and how it can benefit engineering graduates to build a strong career in this arena.  

Top Reasons to Pursue Banking after Engineering

The banking sector is one of the most sought-after career options for thousands of students. With cultural diversity, you can develop the flexibility to work with a broad range of clients and colleagues across various industries and countries.

From an Investment Banker and Probationary Officer to a Budget and Financial Analyst, a career in Banking opens the door to innumerable opportunities across various sectors. 

Pursuing a career in this field provides a platform to participate and contribute to the economic growth of your country Engineering graduates have started altering their career and building expertise towards banking and finance.

Here are some key reasons for those looking for an answer to why to pursue banking after engineering.

1. Avail the Opportunity to Switch Careers

Many students who have a keen interest in science tend to take engineering after their higher secondary school. While some are sure as to why they want to continue in the field, others realize their passion after completing the program.

This allows students to explore other career opportunities like that in the banking sector. Being one of the most lucrative, diverse and attractive fields, offering opportunities globally, pursuing a career in banking after engineering is a perfect choice for those who are looking for a change. 

2. Adaptability 

One of the greatest advantages of choosing to start a career in banking after engineering is that engineers usually possess great analytical skills. The banking sector involves a lot of number crunching. One can easily shift their career and adopt certain skills in a short span of time. 

3. Job Security and Perks

An important aspect of starting a career in a particular field is the job security. In today’s time, when economies across the globe are witnessing fluctuating growths, having a secure job is the need of the hour. The Government jobs in the banking sector not only provide better financial stability and security but also offers many perks and emoluments like loans at lower interest rates, gratuity, and accommodations.

This is another reason why it can be beneficial to kick-start a career in banking after engineering. It is important to note that the exams conducted by the Institute of Banking Personnel Selection (IBPS) and the State Bank of India are some of the exams to enter the Indian banking sector.

4. Technological Advancements in the Banking Sector

Another key point amongst the reasons for why Banking after Engineering is that with the advent of the digital age, banks have welcomed new technologies and embraced the phenomena of online banking and cashless transactions.

Engineers are always tech-savvy and nowadays, every bank usually has an Information Technology (IT) that generally hires engineering graduates. So, going for banking after Engineering can help you explore how banks are readily using digital technologies and build a thriving career in the same!

5. Diverse Career Opportunities 

There are various career opportunities for those who want to pursue a career in banking after engineering. The graduates can find a wide range of jobs in both the public and private sectors globally. Further, higher education in the same field will help you gain in-depth knowledge and open the door to an array of career opportunities in the same field. We have listed down some of the most popular job roles one can go into after completing engineering:

• Specialists/IT Officers 

This is one of the most sought-after bank profiles for engineers who are looking to switch to the banking sector. There are various technical domains for which the banks hire IT, specialists. The job role involves handling, testing, and maintenance of computer networks and equipment for banking operations. IT specialists are either selected through a recruitment process or are placed in various companies after completing graduation. 

• Agricultural Field Officer

This is another one of the most preferred job roles in the banking sector for engineering graduates. Students with a background in agriculture engineering can opt for this position offered in several public banks. 

• Investment Banker

It is another lucrative option for those who want to start a profession in banking after engineering, Investment banking is considered as one of the highest-paying jobs with innumerable career opportunities globally. Although students need to pursue further education to build a career in investment banking, engineering graduates can pursue an MBA and explore various job options globally. 

Apart from these, here are some other career prospects you must consider if you aim to pursue Banking after Engineering:

• Certified Financial Planner (CFP)
• Chief Financial Analyst
• Certified Public Accountant
• Chartered Accountant
• Business Analyst

Also Read: Bank Exam Preparation Apps

How to Answer “Why Banking After Engineering?”

Generally, in bank exams like IBPS PO, candidates are asked to elaborate upon the question of “Why banking after engineering” and gearing up for a good answer, you can successfully ace your interview round. While the aforementioned reasons will surely help you, here are the important pointers you must keep in mind while answering this question:

1. Talk about your skillset as well as leadership opportunities whether you managed cultural events in college or took part in extra-curricular activities. Connect the same with your knowledge of how banks operate and in what ways you can devote yourself full to the job role.  2. As the internet revolutionised our lives, it also transformed the traditional banking system and technological upgrades were embraced by banks across the globe.  3. Mention that you are tech-savvy and keep yourself updated the latest happening in the technology sector and can also help the bank adapt to the new advancements in a smooth manner. 4. Mention how banks play an imperative role in the functioning of an economy as being a banker you can significantly work towards the needs of everyone, from a farmer to an industrialist. 5. An engineering degree imparts you with essential analytical and mathematical skills which are integral to a career in banking as well.  6. Talk about your knowledge of tackling different kinds of software applications, be it for banking or for online platforms. This will showcase that you are aware of how banks are utilising digital technologies in a globalized world.

Career in Engineering vs Career in Banking

Considering the competition one has to face in the field of Engineering while entering the public or private sector, many students tend to opt for secondary paths. Although students do get placed in procedure organisations, due to the bulk of engineers being produced every year, the decent job opportunities in the field are minimal.

This builds up the pressure of losing the job if one is serving an organisation in the private sector. This when compared with the perks that a candidate can get after entering the field of banking, results in a content career choice.

Hence, many engineering students as per their engineering branch have now started to prepare for competitive bank exams. Search candidates popularly acquire decent positions such as IT, Managers and other official posts.

Even though all the fields are open for everyone regardless of their background, those who have previously studied computer science, communication engineering or IT usually opt for IT officer positions in banks. Being an engineer and then becoming a bank officer, helps candidates have an upper hand over various other officers because of their detailed knowledge of the field.

Owing to the technological developments that are taking place in the operation of the banking system in India, graduates of IT and computer science are highly welcomed by the banking sector. 

Also Read: Books for Bank Exams

Practice Questions for Engineers for Personal Interviews (Bank Exams) 

In India, it is mandatory to qualify for competitive exams for securing your position in the private as well as public sector banks. Such exams consist of 2 written examinations followed by a personal interview. For all those who are looking forward to qualifying for bank exams after engineering, here are some of the sample questions for you:

1. Tell us about the time when you realised that you wanted to pursue banking after engineering.  2. What made you choose the banking sector over the jobs available after Engineering?  3. Why do you want to pursue a career in the banking sector?  4. Don’t you think you have wasted your money while pursuing engineering for four years and then drifting towards the banking sector?  5. How will your previous academic education as an engineer help you in your role as a banker?  6. Where do you see yourself 5 years from now?

Also Read: Banking Courses After Graduation

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Hopefully, this blog has helped you understand the major reasons why banking after engineering. Looking at the pace at which the banking sector is expanding, it is sure to attract more talent from various technical fields.

If you’re planning to pursue professional courses abroad but are not sure about how to get started with it then the experts at Leverage Edu will lend you a helping hand.

From helping you select a university using an AI-enabled tool for providing guidance in completing admission-related formalities, the mentors will assist you at every step towards a rewarding career.