How to become a bank manager in India or abroad

The position of a bank manager is vital to help maintain a bank’s daily operations and increase profits. To ensure that everything keeps running smoothly, bank managers need to keep an eye on regular processes as well as long-term plans. This blog will show you how to become a bank manager by listing out the educational qualifications, skills, and experience required for the job. It also shares details on top colleges, banks, and bank manager salaries in India and abroad. Read on!

What does a bank manager do?

A bank manager is responsible for streamlining and maintaining day-to-day banking operations and processes to maximize profits. This requires them to-

1. Lead team operations, i.e., hire, train, and manage employees, and set up streamlined processes.
2. Improve internal and external communication.
3. Handle occasional customer requests to improve customer satisfaction.
4. Develop sales strategies.
5. Conduct recurring analyses
6. Make short- and long-term plans, and take reasonable risks on behalf of the bank.

Bank managers directly report to Reginal Managers; they focus on the big picture just as much as daily activities.

Types of bank managers

Depending on their skills and qualifications, bank managers can fit into any of the roles stated below-

1. Branch Manager 
2. Service Manager 
3. Financial Advisor 
4. Financial Planner/Manager 
5. Investment Bank Manager 
6. Wealth Manager 
7. Loan Counsellor 
8. Loan Advisor
9. Mortgage Broker

Skills required to become a bank manager

To become a bank manager, you will need to acquire skills in three principal areas-

1. Your niche. Consider the role of an investment bank manager. They need to be aware of the upcoming developments in the financial market, market indicators, daily news, investment risks, etc., to be able to help the bank make reliable decisions. 
2. Soft skills. Being a manager is not easy. You have to learn how to be empathetic yet firm. The soft skills required to become a good bank manager are leadership, communication, problem-solving, organization, agility, and negotiation.
3. Technical skills. Leading and streamlining daily operations, making roadmaps for the future, and conducting analyses require bank managers to have extensive technical knowledge. You will need to learn how to use excel, various service platforms, applications, etc.

How to become a bank manager

There are two different career paths you can take to become a bank manager-

Through your experience

1. Complete a Bachelor’s degree in a related field, like Commerce, Accounting, Business Administration, Finance, or Banking.
2. Take the standard Bank PO exams to secure an entry-level position at a bank.
3. Work for 2-4 years to gain the relevant experience you need to become a banking manager. You will be promoted when you’re ready

Get a master’s degree

1. Complete a Bachelor’s degree in a related field, like Commerce, Accounting, Business Administration, Finance, or Banking.
2. Pursue a Master’s in Banking and Finance, International Banking, or Business Administration.
3. Directly apply for a bank manager’s position.

Education qualifications

You can pursue any of the following courses to secure a management position at a bank-

Education level	Degree options
Undergraduate	BCom, BCom in Banking and Finance. BBA in Finance. BBA in AccountingBBA in Banking and Finance, BSc in Accounting, Banking, and Finance.
Postgraduate	MBA in Finance, MBA in Banking and Finance, MCom in Banking, MSc in Banking and Finance, MSc in International Banking, Master of Banking and Finance Law.

Top universities in India

The top 10 colleges to pursue MBA in India are-

1. IIM Ahmedabad
2. IIM Bangalore
3. IIM Calcutta
4. IIM Lucknow
5. XLRI Jamshedpur
6. ISB Hyderabad
7. SP Jain Institute of Management and Research, Mumbai
8. IIM Kozhikode
9. IIFT New Delhi
10. IIM Indore

Top universities abroad

The top 10 MBA colleges are located in the US, Europe, and Singapore –

1. Stanford Graduate School of Business, USA
2. Harvard Business School, USA
3. Wharton Business School, University of Pennsylvania, USA
4. HEC Paris, France
5. MIT Sloan School of Management, USA
6. London Business School, UK
7. IE Business School, Spain
8. INSEAD, Singapore
9. Columbia Business School, USA
10. IESE Business School, Spain

Bank manager salary

The salary you earn as a bank manager will depend on a variety of factors. Including the country, city, the bank you work for, and your position. 

In India, your salary can range from 5 to 10 lakhs per annum, depending on the amount of experience you have.

In foreign countries, however, you will likely earn an average salary of $75,203 as a bank manager!

Career opportunities

It’s important to decide what kind of bank you want to work for. Would you prefer being employed at a public or private bank? What vertical do you want to work in? Investment? Loans? Wealth Management? Make a list of all these things before you begin your job search.

Some of the top banking institutions you can work for are-

1. JP Morgan Chase
2. Bank of America
3. Citigroup
4. HDFC Bank
5. HSBC
6. Bank of China
7. Barclays
8. Deutsche Bank
9. Goldman Sachs, and
10. BNP Paribas

Key takeaways

• A bank manager is responsible for streamlining and maintaining day-to-day banking operations and processes to maximize profits. 
• Bank managers can assume many roles, like Branch Manager, Financial Advisor, Mortgage Broker, etc.
• You will need domain knowledge, technical skills, and soft skills to become a good bank manager.
• You can either pursue a bachelor’s degree and start working your way up to this position or directly apply for it after completing your master’s.
• The top colleges for pursuing bachelor’s and master’s have been listed in this blog.
• The average salary for a bank manager is 5 LPA in India and $75,203 in the US.
• Some of the banking institutions you can work at are HSBC, Goldman Sachs, and JPMC, among others.

Becoming a bank manager in India or abroad requires a combination of education, experience, and key skills. A bachelor’s degree in finance or a related field, along with relevant work experience in the banking industry, serves as a solid foundation. By acquiring these necessary qualifications and gaining practical experience, aspiring individuals can pave their way towards a rewarding career as a bank manager, whether in India or abroad.

We hope our blog helped you gain a better understanding of what it takes to become a bank manager. If you require further assistance with your education journey, then feel free to reach out to us!

Liked this blog? Read MBA in Finance | Top 7 things you must know!

FAQs

1. What is the qualification of a bank manager?

Ans –A bank manager typically needs a bachelor’s/master’s degree in finance or a related field, relevant work experience in the banking industry, strong leadership and managerial skills, knowledge of banking operations and financial regulations, and excellent customer service abilities.

2.Can we directly become a bank manager?

Ans – If you complete your master’s in Banking, Finance, Accounting, or Business Administration, you will be eligible to apply for bank management jobs.

3.What is the highest position at a bank?

Ans – The highest level of rank at a bank is that of a CFO (Chief Financial Officer).