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Here are four proven strategies for students to build their banking knowledge and expertise to stand out in a competitive job market.
Self-Learning – Continuous Learning
The maxim “knowledge is power” has never rung truer. Continuous self-learning is a hallmark of successful bankers today. Online learning platforms and free to air platforms offer good learning resources focussed on enhancing basic banking knowledge. Utilising online platforms and resources, individuals can tailor their learning experiences to suit their unique needs. Surveys suggest that top-performing banking professionals engage in continuous self-learning.
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Research indicates that individuals who have completed internships or mentored programs are 58% more likely to secure full-time positions. A straightforward, teacher-directed approach that typically includes lectures or demonstrations and focuses on some explicit skills is always a good option. Students can leverage a specialised learning platform focussed on Banking industry. The curriculum is curated by leading bankers and developed in multiple formats like classroom-based learning, and online self-paced learning to suit varied learning mode preferences.
On the Job Training
On-the-job training is a true blessing for aspiring bankers. According to the Society for Human Resource Management report, 40% of successful professionals attribute a significant portion of their expertise to on-the-job training. This immersive learning experience not only imparts technical skills but also hones soft skills crucial for effective communication in the financial sector.
Job- Focused Training
Tailoring one’s skill set to the specific demands of the job market is a strategic move for aspiring bankers. Job-focused training programs equip individuals with specialised skills. Often, banks promote job-focused training programs, as McKinsey research shows that redeployment with effective reskilling is 20% more cost-effective for employers. These programs often cover topics like risk management, financial analysis, and regulatory compliance, addressing the industry’s ever-changing demands.
For students and individuals eyeing a rewarding career in banking, the proactive pursuit of knowledge is a non-negotiable component of success. With banks jumping on the digital bandwagon, there is intense competition for top talent. Recruiters seek candidates who can support their ongoing digital transformation. So, those who dedicatedly cultivate their knowledge and skills as per the demands will not only survive but thrive in this dynamic sector!
By Praveen Achutha – Head of Solutions Manipal Academy of BFSI
Disclaimer: The opinions and assertions expressed in this article are solely those of the author and do not necessarily reflect the views of Udayavani. The publication holds no legal responsibility for the content presented.