At a first glance, it may seem like engineering and banking are polar opposite career choices. However, that is not true. There are many similarities in both industries, if you look at them closely. Engineering is a tech-oriented industry, and with digitalisation, the banking sector is becoming more tech-reliant and innovative as well.
Both industries need hands-on skill training, and professionals are expected to keep themselves abreast of the latest advancements in the industry to adapt to an ever-evolving world. The banking sector is a great place to find excellent career opportunities as an engineer. Let us take a look at the role of engineers in the banking sector.
Top Reasons for Engineers to Choose a Career in Banking:
1. Career Switch in the Right Direction
Sometimes, some candidates end up choosing engineering at the undergraduate level just because it is a very prominent field or due to peer pressure. However, upon graduation they realise that engineering is not really for them. If you have an engineering degree but want to switch to another career, there can be no better option than banking.
The banking sector is a futuristic sector with diverse career opportunities for all kinds of professionals. Furthermore, banking jobs are very lucrative and the average salary scale in this sector is higher than most others. There is scope for professionals with a technical background in the banking sector, making it the perfect career switch for engineers.
2. A Digitally Transformative Industry
The banking sector is highly digitally advanced due to its reliance on information technology (IT). Banking and financial services have become extremely modern and convenient for customers. Less than a decade ago, transferring a large sum of money was a time-consuming process that would take a lot of work at the backend of the banking sector. Today, you can transfer any sum of money from your bank account through a mobile app on your phone.
It is always smart to work in such a transformative industry as you will not have a dull moment here. With the right qualifications, you will be able to integrate yourself into the banking sector with ease. For example, if you have an engineering background in artificial intelligence, machine learning, or cyber security, you can easily find excellent career opportunities in the banking sector due to its reliance on IT-based services.
3. A Fast-paced and Challenging Career
As the banking sector is rapidly changing, you will have a challenging and interesting job in this sector. Today, the banking sector is perhaps the fastest changing sector and you can help drive this evolution further. Technologies like online banking and cashless transactions are at the forefront of this sector.
If you are someone who enjoys a challenge and wants to be a part of a revolutionary industry, then the banking sector is right for you. Engineering graduates are regularly hired by the banking sector to manage its IT-related services. You can look for banking engineering courses after 12th to get a head start in your career in the banking and finance sector.
4. Career Growth Opportunities
The growth trajectory of the banking sector is phenomenal. With the right qualifications and training, you can start at a decent post with a lucrative salary in this sector. Once you accumulate enough experience, you can climb up the corporate ladder with promotions. Such promotions will also come with lucrative salary hikes.
The banking sector also offers a lot of scope for professional growth. Many banks also hold regular training activities to help employees constantly upskill and upgrade their knowledge regarding the latest advancements in the field. You can gain excellent career opportunities if you keep yourself learning more and enhancing your skills in this field.
5. A Diverse Industry to Work in
The banking and finance sector is vast with many subcategories. You can pursue the branch of banking to build the career of your choice with the right education and training. Firstly, you can start with deciding whether you want to work for public or private sector banking and financial institutions.
After that, you can choose from a range of branches like banking, insurance, personal investments, accounting, financial planning, business analysis, investment banking, mutual funds, financial analyst, and stock market expert. All of these branches are highly advanced with wonderful career opportunities for a brilliant career ahead.
Engineers already have a number of skills that are necessary for a bright career in the banking sector. These professionals have the ability to adapt in a tech-savvy industry through practical thinking, number crunching, and exceptional analytical skills.
So, if you are someone who is looking for a career change from engineering, you can consider pursuing banking and finance. There are many opportunities for civil engineers in the banking sector as well. You will just have to dedicate some time and resources towards gaining banking-oriented skills and knowledge to make it in this field. Good luck!