PSU BANK JOBS ARE NO LONGER A CHARISMA

Are you surprised to hear this news:  PSU BANK JOBS ARE NO LONGER COVETED AS BEFORE?  There has been a notable fall in the number of candidates’ registering themselves for Clerical and probationary Officer/Management Trainee posts in a Public Sector Bank.  This is revealed from the data of Institute of Banking Personnel Section 9IBPS).    IBPS majorly conducts the tests for about 20 Public Sector Banks and SBI recruits on its own.

The figures shown reveal that the candidates registered with IBPS for clerical jobs has come down from 20.31 lakh in Financial Year 2017 to 19.67 lakh in the Financial Year 2018.  For Probationary officer/Management Trainee posts, the registrations have come down from 19.67 lakh to 11.287 lakh.  Also the same fall is seen in the Specialist Officers category too.  What are the reasons?

1. The new entrants to these banks give a negative feed back about the nature of job. Long hours and work pressure are the main reasons attributed.
2. Also, the decline in the vacancies also has been a discouraging factor for the applicants.
3. People are forced to go on medical leave to avoid pressure.
4. In 2010 there was a huge leap in the IT personnel opting for Bank jobs, who have now turned their face towards other areas.
5. There has been huge pressure to achieve the Government Schemes Targets and also follow up of Stressed Assets.
6. Also, the pressure and strict guidelines from the Regulators has made the working conditions more and more stiff.
7. Career progression is another area of concern. Opportunties for learning is also seen to be very less.
8. Job security is an old concept. A qualified man is always in demand in the market and switching jobs has become easier for young job seekers these days.
9. The other statistics reveals the following figure of comparison with the previous year(s) as per IBPS are:

Also, during Financial Year 2018, SBI’s Employee Strength fell by 18,973 due to retirements etc. but only 3,211 joined.  The total staff strength came down from 2,79,803 as on April 1, 2017 to 2,64,041 as on April 1, 2018.