[IBPS] Interview Preparation (Part 2 of 5) Why BankPO?

Preparing the Sales Pitch: Career growth, job satisfaction,

negative factors, work-profile, Promotion, hierarchy, Sample
Answers
mrunal.org/2013/12/ibps-interview-preparation-part-2-of-5-why-bankpo-preparing-the-sales-pitch-career-growth-job-
satisfaction-negative-factors-work-profile-promotion-hierarchy-sample-answers.html

30/12/2013

Prologue
Total five articles on how to prepare for IBPS Bank Interviews

The Sales PitchTM

“Why do you want to become BankPO or why do you want to join baking sector?”

You’ll face this question directly or indirectly during interview.

Bank Interviews are done mainly to find out whether you’re a reliable workhorse or not? So,
If you cannot answer some random GK question=no problem,
but if you fumble in “Why bankPO” question= then it is deal a breaker #epicfail.
Therefore, you’ve to prepare answer diligently along with all the possible followup
questions. I call it the sales pitch.
Through this sales pitch, you will convince the interviewer that you’re interested in
**PERMANENT** career in banking sector.

Avoid Push Factors

The opening lines of your sales pitch, should not include following:

1. I want bankPO because my paper degree is useless. There are no jobs or growth in my field.
I’m not interested in teaching profession or doing Post graduation.
2. I want bankPO because I failed in UPSC / CAT / GATE or whatever.
3. My visa application to USA was rejected so, I’ve decide to find job in India.

Or any answer that hints you want BankPO because of “PUSH” factors that you’ve failed in other
avenues. Even if these are genuine reasons, they should not be mentioned in the opening lines of
your sales pitch.

but Why?

Reason#1: “My paper degree is useless, there is no growth in my field”

with this statement, you’re walking in a minefield, because:

1. They’re not interested in your whining or personal problems- today every degree sucks,
decent jobs are hard to get. Real money comes only after paper degree + 7 to 10 years of
work experience.

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 2. Can also lead to dead-end follow-up questions. for example:
1. Interviewer will say “I know Mr.XYZ with same degree. He makes lakhs of rupees.”
and You don’t want to counter his argument for the fear of annoying him.
2. Interviewer may blame you for wasting your parent’s money on doing that xyz degree
or being non-serious about career-planning. You again don’t want to counter his
arguments for the fear of annoying him.
3. Worst case scenario: he is own son / daughter is in the same graduation field. No father
wants to hear bad things about that degree!

So, avoid this pathway. Never badmouth about your degree, college, university or previous
employer.

What if push factor is asked?

You may face a direct question: “You’re an *xyz* graduate, why do you want to join
banking sector?”

In such cases, the standard operating procedure is:

1. Just briefly mention the lack of scope in your parent field +/- that PG is necessary but you
don’t have time and money +/- that you’re not interested in it for xyz field for reasons other
than money.
2. Elaborate that your graduation knowledge is not wasted- has some relevance to Banking
sector. If you can’t find any ‘reasonable’ connection between grad.field vs banking, then
focus on your personal qualities related to hard work, team-player, time management,
project done in college etc. and how they’ll fit in banking sector.
3. Overall, Give more emphasis positive pull factors of banking sector. And how you will be a
useful addition to their organization (=reliable workhorse).

Reason: “I failed in UPSC / CAT / GATE so I want bankPO”

With this answer, you walk into another minefield full of dead-end questions:

1. Interviewer will say: “You failed in those exam because you’re not a hardworking person,
you don’t have time management skills.” OR
2. You may blame external factors e.g.
1. “Hindi compulsory paper was too tough or scaling formula was unfavorable for my
optional subject so I failed in UPSC. or
2. IIM walla give profile weightage to class 10-12 score so I was rejected despite a good
CAT score…. ”

And Even if these are genuine reason, the interviewer won’t believe/pity you much, because he
doesn’t have firsthand experience of giving those other competitive exams!

+makes him angry thinking that you treating banking sector as a ‘MNREGA’ and coming
here only AFTER failing in other better jobs.
+ makes him suspicious: “are you a reliable workhorse or not? Will you run away if posted
in remote area?” (That is the most important fear for them!)

Therefore, unless he specifically brings up the issue like ‘gap’ in biodata after graduation passout
year, you should avoid mentioning your past adventures/misadventures in other competitive
exams. Remember, interview is holding a ‘mirror’- you show negative things, the reflection will

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also be negative.

Avoid Juvenile stuff:

1. “I want bankPO because it is not an end but a means to achieve excellence (and other
philosophical mumbo-jumbo that you’ve read in some toppers’ interview in some xyz
magazine or some coachingwalla has taught you). This answer is just too clichéd for any
interview. Avoid it like hell.
2. “I want bankPO so I can earn more money than my current job. (avoid speaking about
salary in formal interview, unless they specifically inquire.)
3. I want bankPO because my cousin/friend is also BankPO.
1. Panel is more interested in knowing what you can do for their bank, rather than what
are your personal issues and petty needs of self-approval among family members.
2. At most you can explain how you feel motivated to join banking sector because of your
relative / cousin / xyz friend is also in banking sectorand he had told you about good
working culture, career growth in banking sector etc.
3. But just because “they’ve joined so I also want to join..” that type juvenile answer
should be avoided.

Pull factors: Why BankPO?

Pull factors are the attractive things about Banking career. As long as your sales pitch revolves
around pull factors, the follow-up question will move in positive direction.

Some of the pull factors of BankPO are as following (list not exhaustive)

Career Growth in Banking sector

1. Salary, career growth is good. Ensures an upper middle class lifestyle after a few years of
service.
2. After 3 years of work-xp in Bank, you may try for CAT, do MBA from elite institute = fat
salary package in private banks / NBFCs. You can specialize in finance, and become the
fabled ‘investment banker’ in top foreign banks, who mint crores of rupees.
3. Even If you are not in IIM/IIT/IAS, you can still work your way to the top position. for
example
1. Arun Tiwari: M.Sc in Chemistry. Joined Bank of Baroda as PO in ’79. right now
CMD of Union bank of India.
2. KR Kamath: did B.Com from Mysore, joined Corporation Bank as officer trainee ‘77.
Today he is CMD of Punjab National Bank.
3. Arundhati Bhattacharya: done BA in literature, joined SBI as PO back in ‘77.
Today she is the Chairman of SBI.
4. R.K. Dubey: MA in English, LLB, joined Punjab National Bank in ’77 as a
management trainee (MT). Today he is CMD of Canara Bank.

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 4. This is not possible in other places. For example,
1. RBI Grade “B” officer: Can’t become the governor. That post reserved for
IAS/exceptionally talented economists such as Raghuram Rajan.
2. State services (Class I , Class II): the home Secretary, chief Secretary, DGP =
reserved for IAS, IPS.
3. Private sector banks: you’ll need a degree in finance/MBA from a highly reputed
institute + long workXP + right contacts, if you want to become CEO/MD/Chairman.
4. SSC-CGL : you join as an Income tax inspector, later promotion to group-A but you
can never become Finance Secretary to government of India. That post is reserved for
IAS.
5. ACIO: you get promotion to Group A, but you can never become DG (Intelligence).
Again reserved for IPS.
5. In other government services, sometimes they ignore you for promotion if you’re too
honest/don’t pay the ca$h to minister. Especially in state services. Banking sector doesn’t
have that problem. And even if you’re overlooked for promotion, you always have the
opportunity to join private sector bank/consultancy for a decent salary.
6. Even if you can’t become MD/CMD, still in the top-management position you’ll get fat
salary package and fringe benefits.
7. Even after retirement, one can get very high paying jobs in private sector, insurance,
finance, NBFC etc. in top positions.
8. Privileges attached to PSU Bank officers: Housing, auto loans at much cheaper rates from
the cooperative society/festival allowance/ furniture allowance/Newspaper allowance/ Maid
allowance, even money to buy suitcase etc. (varies from bank to bank)

Job satisfaction as a BankPO

1. As a banker, you help needy people get loans for starting business, pursuing higher
education. =you’re helping them get on their feet.
2. Loans for buying home, car, bike etc. you bring happiness to many families.
3. You’re helping poor women save their money away from their drunkard husband and so
on….
4. Banks help the economic growth in small towns and large villages=> prevent migration to
metropolitans and subsequent problems related to slums etc.
5. Thus, a Banker is also doing an essential public service– just like doctor and policeman.
6. So, Apart from good salary, there is job satisfaction, the feeling of having done something
good for another fellow Indian.
7. All that is necessary for the triumph of evil is that good men do nothing. e.g. subprime crisis
in USA because banks were run by idiots. Indian banking sector is immune from such
shocks because by and large the officials are diligent in their work.
8. In way this is just like politics- if good men stop coming then idiots will get in charge and
ruin everything. If all good folks stop joining police force then only crooked will don the
uniform, criminals don’t fear police anymore and that’s why all the riots and gangrapes.
9. Same way, if good folks don’t join public sector banks and since private banks not interested
in serving rural areas= poor people will keep suffering at the hands of evil money lenders,
no rural growth, severe problem related with urban migration and abject poverty.

Now you should prepare your own unique Sales Pitch based on above factors.

1. How the career growth attracts you

2. How you see the job satisfaction, desire to help, do good to society.

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 3. + a few drops of your positive qualities that’ll make you a valuable addition to their gang.
(link few things from graduation, if nothing then just personal qualities.)

BankPO: hierarchy, Promotion and Salary Structure.

Sometimes, to check whether candidate is ‘serious’ or not, the panel will ask him hierarchy /
promotion related questions during interview. The table is given below (Corrections, updates
welcome, post in comment.):

1. *for salary, I’ve approximated values based on pay scales. The exact salary will be different
when you count HRA city posting, other allowances, deduction to NPS etc. This table is only
meant to give you rough idea on whether to try for Bank or some other career in private
sector.
2. **The promotion policy is different for each bank. This sample table is based on PNB. In
some other banks they might use different intervals for minimum service years before
promotion.
3. If you clear JAIIB and CAIIB exams, you get better increments and promotion
opportunities.
4. If you serve in rural/hardship areas, you get additional marks while promotion shortlist is
prepared. (How much weightage? that differs from bank to bank.)

Grade Scle (GS) Post criteria** Entry? Appx.SalaryPer

month*

Junior- I Probationary this is competitive exam ~29000

Management(JMGS) Officer where (IBPS)
(Assistant you start
Manager)

Mid-Mgmt (MMGS) II Deputy after five 1.seniority/time ~39000

Manager years in based (i.e. after
JMGS1 completing __
years in
service)2.Fast
Track Channel
(through limited
competitive exam
among officers)

III Manager after five 1. seniority/time ~51000

years in based
MMG2 2. Fast Track
Channel

Senior IV Chief after 3 Merit-Performance ~61000

Management(SMGS) Manager years in
MMG3

V Assistant 3 years in Merit-Performance ~72000

General SMGC4
Manager, (and
AGM minimum
12 years
of
service)

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 TopExecutive(TEGS) VI Deputy 3 years in Merit-Performance ~84000
General SMGS5
Manager, (and
DGM minimum
15 years
of
service)

VII General 3 years in Merit-Performance ~94000

Manager(GM). TEGS5
Addl.GM. (and
minimum
18 years
of
service)

Executive Director (ED) Among shortlisting & ~28 lakh per

the interview year. (UCO
general bank, 2010
Managers data)*
(GM)

Chairman and Managing Director (CMD) Among shortlisting & ~27 lakh per
the interview year in SBI
Executive (2010 data)
directors
(ED)

*UCO bank ED got more money than SBI CMD because it is performance linked.

Although emoluments/salaries of CMD in public sector banks are way lower than private sector
banks. Observe following image:

Followup Questions After Sales Pitch

As such, followup question after sales pitch= either grad. based question OR banking related
question. (Will be given in separate articles.)

Some unique follow-up questions that may come after sales pitch:

1. (If you’re near 30s age) you said a person can become CMD. but don’t you think you’re too
old to reach final promotions?
2. (If you’re just 21-22) don’t you think you’re too young to handle responsibilities? Why don’t
you opt for PG/MBA?

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 3. (If you’re Sci/Engg) don’t you think a commerce or finance graduate is more equipped to
handle this job?
4. (If you’re arts/commerce) don’t you think a person with technical background and IT
awareness is more equipped to handle this job?

Must not contradict the sales pitch

Suppose in the first 3 minutes, you’ve given sales pitch. Then interview moves in different
questions about graduation /banking / current etc. This goes on for 10 minutes.

But in the last two minutes, one of the panel member may again ask the same question in a
different tone: “I don’t think you’re cut out for a bank job. I think you’re more
suitable in doing MBA/PG/ Private sector job.”

At that point, out of panic, you must not contradict your first sales pitch.

For example, your initial sales pitch centered on “work-culture, job satisfaction and social
status.”

but at this stage (when he again asks), you show your true colors and tell them how your paper
degree sucks, you desperately want job security and your failures in other exams and so
on..=you’re contradicting initial sales pitch= not a good idea sir-ji.

Why *not* BankPO? Negative aspects of Banking job

You may have heard (or read) bad things about BankPO job profile that:

1. Posting in remote areas. Away from family. Loner who lives a house but not a home. Social
isolation. Problem related to food, electricity, net connection and so on. Some offices don’t
even have good toilets.
2. Lazy boss, internal office-politics, unionism, clerk-cashier don’t cooperate.
3. Heavy workload, high targets given, stressful job, long work hours, BankPO made to do
everything from filling cash into ATM to typing application forms into computer like a data
entry operator.
4. Boss forces you to sell more loans. But if any customer defaults on loan payment, then all
blame is put on your shoulder.
5. NOC is not given easily for appearing in other government job exams and so on…

Long story cut short: until the interviews are over, ignore all the negative things about Bank
job. Because, it’ll bring down your confidence level in the actual interview.

Now the long story:

BankPO = Good career. But it not a suitable career for everyone in every case.

1. Retail banking is highly competitive business. Big cities are oversaturated with branches. So,
banks are looking at smaller towns and villages in search of new customers => PO are given
‘high targets’ of opening new accounts, finding more customers for
car/auto/education/business/personal loans and so on. (This issue mostly seen with bigger
banks like SBI.)

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 2. New recruits mostly get posting in small towns and rural areas. Metropolitan posting are
mostly reserved for senior staff. That is both blessing and curse at the same time.
1. Curse: you’re cut away from family. lack of urban amnesties.
2. Blessing: Small town/rural area= cost of living low. So the more you can save at the
beginning of your career, more it’ll help at later stage -when your to get kids married,
or have to send them abroad for education, buy a big home/car etc. because savings-
interests-investments get compounded over the time. [But then again you’ve to
compare it in terms of how much money can you make in your grad. field within that
time].

^while this seems like a punishment, but

1. Service in ‘hardship’ area= additional marks given when they make promotion list.
2. All that work-experience later translates into ‘fat-salary’ if and when jump to higher
management posts in private banks, NBFC, Finance-investment-consultancy type
companies at the later stage of your career.

But you must make a rational career decision based on the following parameters:

1. Your age, financial situation and family support. (And do those factors allow you to run for
other competitive exams / post-graduation?)
2. Parallel Growth in your current field vs in Banking sector after 5-7-10 years’ service. and is
your heart really into banking sector?
3. Make your own research about career growth. For example, as such B.Pharm is a useless
paper degree with 9-6 factory job, hardly any salary or career growth because of the
mushrooming self-financed colleges and oversatured labour market. But in the same field,
there are maestros minting truckload of cash through clinical
trials/consultancy/sales/marketing/distribution work, and that too without any MBA
degree.
4. Point being, Every field has money somewhere. but every career is not suitable for everyone.
so don’t blindly follow the crowd, make your own informed choices.

But, Like I said earlier, all these things have to be considered after the interview is over. Right
now just pretend that BankPO is the most awesome job on earth and prepare passionately.

Appendix: Some “Why BankPO” answers?

I don’t know whether the following gentlemen got the final list or not. But posting here to serve as
“Food for thought”. Courtesy: Mr.csl80 fro compiling them from pagalguy.com forum threads.

IT guy leaving private job to become PO

Panel: You seem to be working with a big brand that also in the HR Department.
What was the reason why you left such a job?

Ans: Told him about my association with the company and the duration of recession which used
to gave me sleepless night and every day tension if I am in the job or out of Job. So funda’s about
social security, financial security, Stability, Greater Prospects, Great Working culture and so on
the banks.

Panel: That’s seems okay but after 4+ years of working why do you want to switch
over to another job?

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Ans: Told him that everyone in my family have been a government employee till now and I to
have a dream of becoming one among them.

Panel: But How will be the bank benefited by selecting you since you are not from
Commerce or Finance background?

Me: I told him the benefits that bank have received after the introduction of Engg (IT) in its
business. Also told him that the criteria of selection of a person should not only be based on his
academic background but his passion, dedication and zeal to get in the work should be counted.
Finally if I lack some knowledge I can be trained and can be developed in to a successful banker.

Engineer to Banker Case #1

Panel: You have done Engg right? Were you forced to do it?

Ans. No sir , actually I wrote ent exams and got a merit sit. Secondly I was good in science in my
school days. Thirdly at that point of time I was no so mature enough to decide about the things so
it was my father who decided about me doing Engg.

Panel: Why Banking now?

Ans: Well sir as I have already mentioned that I developed interest in banking from my childhood
seeing my father, later on during my Engg I decided to try my luck into Banking sector after doing
my MBA in Finance but came to a point(situation) where I had to decide between my study and
my sister’s study. I sacrificed and went into job to support her studies and to repay the
educational loan on my name.

Engineer to Banker Case #2

Panel: So why do you want to be a PO, when you’re Engg Background? If we select
you than it may be great loss for Indian Telecom industry, what you can do for us,
you can do it better there. This is financial deptt & a commerce background
candidate can better adjust here!

Ans: Sir today Banking environment going to CBS (Core banking solutions), some programme are
required to understand even at some stage implementation in that programme also required time
to time, as far as I m from technical background, there is not much need to work on me to learn
them, i may be useful for IT deptt too for coming yrs, I can serve dual purpose for bank, also
Management requires work & progress whether a candidate be from medical from engg or any
other background.

Engineer to Banker case #3

Panel: Why banking after BE?

Ans: Sir, I had chosen EC Engg after 12th because of my strong interest in modern physics and
designing electric circuits. And due to that passion got University medal for my major project. But
jobs offered to us in our college were software coding work with no growth and creativity. After
passing BE for almost 6 months searched a lot for core jobs but those were not matched to my
expectations.

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In between I also got knowledge of banking field which is fast growing, offering abundant jobs
and have lot of creative works so turned my career towards banking.

Panel: But what’s the use of your degree in banking?

Ans: being EC engg I’m technically very strong for day to day banking operations. After BE for
last 1.5 years, we worked in group for implementation of project so I have known how to work in a
group.

Biotech to BankPO
P1: Why do you want to join banking sector?

Me: Sir I’m 2010 B.Tech (Biotechnology) graduate. I am preparing for IAS examinations. Last
year I gave my 1st attempt but couldn’t get through, hence started preparing for Bank exams.

P1: You have passed in 2010! then what were you doing till now? (Interview done in
year 2012)

Me: Answered (ias preparation, 1st attempt and then banking.)

P1: How did you get interest in banking? Do you have any relatives in banking
sector?

Me: No sir. Often I have d chance to go for banks(for transaction, DD, mainly for applying exams)
at that time.. I got inspired.

P1: so, if you have visited INFOSYS, then you’ll get more inspiration, right?

Me: sir, Interest in some field only leads to motivation. Since, I have no interest in software, so I
took Biotechnology branch.

P1: Then why don’t you go for biotech jobs?

Me: tried for core companies, but scope for B.Tech is very less. They are in need of M.Tech
graduates alone.
For more on IBPS, visit Mrunal.org/IBPS

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