UNIVERSITY OF PUNJAB

SUBMITTED BY: Nimra Naveed

SUBMITTED TO: SIR ANAS

ROLL NUMBER: 411

ASSIGNMENT: 02

TOPIC: Comparative Study of Banks & insurance Companies for fresh Graduates

DATE: 12 Sep 2022

 ➢ Overview :

➢ What is Comparative study?

• Comparative Study analyses and compares two or more objects or ideas to examine,
compare and contrast them to show how two or more subjects are similar or different
perspectives.
• It can be defined as a method to compare similar items to one another and see their
differences and what they have in common.
• As related to assignment topic, banks and insurance companies comparative study is
elaborated:

➢ Introduction:

As a fresher, straight out of college, we look for opportunities to jump-start your career.
• If we are from the commerce background, banking and insurance are the hottest sectors
for job opportunities.
• The number above mentioned above say, this sector also promises the easiest
employment opportunities for fresher’s, making it a hotbed for job applications.
• Jobs in the banking and insurance sector have always been in demand among freshers.

➢ Top Career Options For Fresher’s

1. Telecaller
• Banks and insurance companies are constantly on the look-out for fresher’s to work in
their call-centre and sell their products through telesales.
• The eligibility criteria are simple – you just have to be a graduate with good
communication skills, and you are set to go.
• Besides a fixed monthly income, you can also earn commissions on the sales you
generate.

2. Bank Probationary Officers (PO)

• The bank PO job is highly sought after because it allows you a chance to grow your
career in banking.
• For this job, however, you need to pass an exam conducted by the Institute of Banking
Personnel Selection (IBPS) if you want placement in a public-sector bank.
• For private sector banks, the exam is not a criterion, but you might need other
qualifications. As a PO, you get a fixed monthly income and a chance at promotion.
3. Sales Representatives or Relationship Managers
• The job of sales representatives, relationship managers or sales managers is also available
for first time job seekers in banks and insurance companies.
 • Needless to say, this is a sales-oriented position wherein you need to sell the products of
the bank or insurance company.
• There might be a monthly target, and this position is open for graduates fresh out of
universities.

4. Tellers and/or Cashiers

• Banks need tellers, individuals who sit at the ‘‘deposit’’ and ‘‘withdrawal’’ windows at
the branch.
• Freshers can apply to these positions and get placements.
5. Insurance Agents
• Another lucrative avenue is becoming an insurance agent.
• The beauty of an insurance agency is that it allows you to work full-time in another job
and sell insurance policies on a part-time basis for additional income.

➢ The Qualification Required

• Under most of the jobs, you need a graduate degree. Moreover, for the telecaller or sales
position, we don’t even need specialization in commerce.
• All we need to do is learn sales skills which can be done through a hands-on experience
on the job or through online courses before getting the job.

➢ The Expected Pay

• As a fresher, you might not have sky-high expectations when it comes to the salary
package. However, knowing the pay package ball-park is important.
o The pay package actually depends on the position you get placed in.
o Telecallers can earn around Rs. 15,000 to 20,000 per month (excluding
incentives) while POs and sales reps can have a salary starting from Rs. 25,000.
o Tellers and cashiers might earn somewhere between Rs. 20,000 to 30,000 while in
an insurance agency, there is no fixed payment.
o As an agent, your income depends on the number of policies that you sell and the
premium that you collect.

➢ The Growth Curve

• Everybody wants to grow their careers with experience, why shouldn’t we?
• Experience is an important qualification, and as you gain experience, you can grow your
insurance and banking career too.
• Banks and insurance companies look at internal promotions to fill their vacancies.
• We can become a manager and reach the top management levels with your performance
and experience.
➢ Conclusion:
• Though freshers are welcomed in insurance and banking sector jobs, additional courses
help in honing your skills.
• The job world is competitive, and the fittest ones survive.
• To stand out of the crowd, you need an extra feather in your cap. And how do you get
that extra feather? Through online course simply!!