Is Banking a Safe Career?

There are 2 aspects to this question: 

  1. Is the banking industry safe & will your bank do well?
  2. Will your job be safe (as an employee) in the bank?

The industry is as safe as it gets! Banking industry is highly regulated across the world as it deals with public money. The sector is the backbone of the economy and has a huge head-space to grow in our country as we are still grossly under-penetrated in financial services. 

The 2nd part of the question is therefore the only pertinent one. Banking is a very dominant employer in our country. For instance, in the 3 years till Mar’21, the private sector banks added roughly 2 lac employees as net addition. The industry clearly needs lot of good employees. In an environment where there is lot of demand for good employees, most jobs will remain safe, if your performance is not in the bottom 10-20% and you have demonstrated your willingness to work hard & keep learning.

So, if you are even an average performer, your job will be safe! But if you want faster promotions & higher earnings, obviously your performance has to be better than average!!

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