The course outline of bank PO and CAT is almost identical, but general and banking awareness computer knowledge is not included in the CAT syllabus. CAT (common admission test) is time tested entrance exam to IIMS and other top-class B schools. This exam is highly competitive, and handfuls are able to crack it. On the other hand, bank PO (probationary officer) is conducted by the Institute of Banking Personnel Selection (IBPS) and State Bank of India (SBI). Many job aspirants appear for both the banking and CAT exam as it opens a wide spectrum of career opportunities. Preparing for both exams simultaneously is feasible as the syllabus of the two exams has many similarities.
Syllabus of CAT and banking exam
Though the syllabus of IBPS PO and CAT is almost identical, the latter is more intricate. English language, math, reasoning, and quantitative analysis are common subjects, except in banking po questions related to computer knowledge and general awareness are asked. The quantitative aptitude paper in the CAT exam makes it harder to crack; more prominence is given to probability, permutation, and combination. Whereas bank exams have a more balanced approach. If you are preparing for the bank exam, you can hand in hand prepare for the CAT exam also. The degree of difficulty in CAT is higher compared to bank exams. Another advantage if you are preparing for the CAT exam includes general awareness and computer knowledge to crack the bank exam.
The salary structure
If you pass the bank exam, you will be entitled to a handsome salary higher than an MBA student as a trainee. The basic pay of a PO is INR 23,700, after the first increment INR30560, after the second increment INR 42,020 after the third one. There are other allowances like DA 9around 33%) depending on the inflation rate, city compensation rate varying on location, house rent allowance (7 to 9% of basic pay), and special allowance (7.75% of basic pay). Depending on the organization’s strength and size, other subsidized allowances are offered. With job satisfaction, you are entitled to a salary structure that is higher compared to other sectors.
After the pandemic, the economic growth has been sluggish. In this volatile global market, professionals seek a stable, growth-oriented career Banking sector is the perfect platform that offers growth opportunities and skill development accompanied by financial benefits. A satisfying profession goes beyond financial terms. With work experience in rural and semi-urban branches, you grow as a compassionate individual. As the ecosystem is challenging, you keep on learning and developing your soft skill. The banking industry is full of twists and turns. As a professional, you always stay ahead of time.
The wide spectrum of opportunities
Another benefit of the banking sector is the availability of a wide spectrum of opportunities in the ecosystem. If you start as PO, you can inch up in the hierarchy to become a corporate banker without switching the organization. After a tenure in the banking industry, you are sought after by other industries. Your financial acumen is an asset to other industries; you can join as a financial analyst and advisor. The banking sector witnessed a massive change in approach, instruments, people, and processing. IBPS PO is a perfect post for a dynamic, tech-savvy modern workforce who can find stability, growth opportunity, and innovation in the role.