High-Paying Government Bank Jobs for Graduates

Government Bank jobs especially bank jobs are quickly becoming the fad again, especially with a lot of uncertainty in the air with the widespread outbreak of COVID-19. These jobs aren’t just prestigious, but they also pay well and come with job security. If you are a recent graduate actively looking for gainful employment opportunities or someone who is looking to switch careers and land a more lucrative job then bank jobs or government jobs might be the best fit for you.

In this article, we will go over some of the most sought-after and high-paying jobs for job-seekers like you.

Bank PO

Bank jobs are some of the most lucrative jobs that are up for grabs. The role of a probationary officer in a bank might be associated with high pressure, but it also comes with handsome compensation and associated perks.

Year after year, banks across the country recruit thousands of graduates for the role of probationary officer, but the most sought-after exam is the IBPS PO exam. If you are an aspirant preparing for bank PO exams, then you can check out the IBPS PO exam dates, apply, and prepare accordingly. The IBPS PO salary is around INR 40,000.

Bank PO jobs are ideal for people who are looking for a challenging career with great work-life balance and job security. Other banks, such as the SBI (State Bank of India), RBI (Reserve bank of India), Bank of Baroda (BOB), Bank of India (BOI), and PSU banks also recruit deserving candidates for the PO role through exams such as the  IBPS PO, SBI PO etc.

IFS or Indian Foreign Services

IFS officers are recruited each year through the civil services exams conducted by the UPSC or the Union Public Service Commission. The role of an IFS officer is one of the most prestigious jobs since the IFS officers/diplomats represent our country, India in other nations.

If you are someone who is looking to travel and explore the world then this might be the right fit for you since IFS officers spend over two-thirds of their time overseas. They might get to stay in a foreign country for as long as 3 years.

When IFS officers are stationed overseas, along with their usual salary and perks (Grade A level) they are also entitled to an additional foreign allowance which is calculated based on the cost of living index issued by the UN (United Nations).  The additional foreign allowance usually ranges from 3500 to 5000 USD.

The starting salary for an IFS officer is typically between 4000 and 5500 USD. Children of the diplomats can get free education from the best international schools. They are also entitled to other benefits such as free medical care, free air travel to India from their base location, official luxury car, housemaid etc.

RBI Grade B officer

In the banking sector, there is no better employer than the Reserve Bank of India. The RBI Grade B Officer is the best possible post to start your banking career. An RBI Grade B officer can get promoted up to the level of a Deputy Governor and the pay of an RBI Grade B officer is that a fresh graduate usually only dreams of – it is close to 18 LPA.

The starting take-home salary is around INR 67000 plus allowances. That’s not all! The RBI Grade B officers also get accommodation in a posh 3 BHK apartment, educational allowances for their children and allowances of 1 lakh rupees every two years for tours.

RBI takes good care of it’s employees and this entices a lot of graduates and job seekers to take the RBI Grade B exam that is held every year to recruit officers.

Defence services

The entry-level take-home salary is between 50,000 and 60,000 (at the rank of Lieutenant) plus benefits. The pride of serving your nation and the adventure that the job promises appeal to a lot of enthusiastic aspirants. If you are looking to join the armed forces of work for the defence services then you can take the NDA / AFCAT / CDS or any other relevant exam.

Unlike the bank exams and the UPSC, the exams conducted to onboard deserving candidates for the defence services might also involve a physical test.

Usually, officers are promoted very often and this gives them a chance to move up the ranks very quickly. Let’s not forget the lump sum pension that officers get post-retirement.

PSU / Public Sector Undertaking

If you are an engineering graduate who doesn’t like working for corporates then you could consider PSUs. PSUs offer competitive salaries comparable to those of their private counterparts. The most popular way to land a PSU job is to take the GATE exam that is held each year. The CTC typically ranges between 10 to 12 lakh per annum. Some of the renowned organizations that recruit through GATE are BHEL, ONGC, IOCL etc.

Assistant Professor/Lecturer at Government Colleges

This is probably the only job with the most number of vacation days. They also give you the satisfaction of educating and empowering the youth. The entry-level salaries can range from INR 40,000 to 1,00,000  depending on the college and the area of specialization. Premier institutes such as the IITs and NITs offer higher salaries whereas arts colleges might offer slightly lower pay.

There are plenty of other opportunities apart from the ones mentioned above. You could also explore the Staff Selection Commission exams (SSC CGL), State Service Commissions, IAS, IPS, IFS ( Indian Forest Services), Scientist/Engineer role in ISRO/ DRDO etc. We hope that this article opened up a world of exciting opportunities for you.

Good luck!