Monday, December 23, 2013

ICICI Bank Probationary Officer's programme- an alternate to costly MBA to those who wants to make career in Banking

Hello Friends,

I have attempted to break the myth and the misunderstanding of the people that any MBA does not give you a secure career and high paying jobs. Hardly 40 out of thousands institute in India are able to do it and rest struggle for the job and after lot of struggle, they settle for a monthly salary of around 12000 average which is just few thousands above the minimum wages for a labour. Unfortunate, but true.
You may read the entire blogpost from:

So, the question is, should one spend so much money for an MBA (average: 4 lakhs minimum even from the worst "B" school.

The answer is definitely no. In my human resources career so far, for several years I have witnessed how after completing MBA from these useless B school, people hunt for any job and settle for anything which is a huge loss.

There are several alternative option of MBA. I strongly suggest that one should do MBA only if they are inclined towards business and deeply interested in that particular specialisation and only if they get admission into tier 1 or tier 2 institute but not beyond the tier 2. 

Few of the alternatives to MBAs are:
Law from a good B school
Civil Services (Union as well as state)
Public Sector Bank Probationer Officer's exam
Psychology (for HR and Marketing)
Public Sector Bank Probationary Officer's programme

I will discuss about these options one by one. However considering the current scenario, I am discussing about ICICI Bank Probationary Officer's Programme for those who are seeking career in banking. 

Last date to apply: 10th January 2014

What is it?

Probationary Officer Training Programme

Probationary Officer Training Programme is an initiative of ICICI Bank to attract young talent who wish to pursue a career in banking. It is designed to develop specialists with banking knowledge and skills to fulfill the future need of trained bankers.

It is a one year full time residential training programme, conducted at ICICI Manipal Academy campus, Bangalore. Applicants joining the Probationary Officer Training Programme will be enrolled for MBA in Banking and Finance with Manipal University, an UGC recognized University.

Since its inception in 2007 more than 6,800 students have joined the Bank and currently 1,900 students are undergoing the training at the ICICI Manipal Academy Campus in Bangalore.
MBA (Banking & Finance) program consists of two phases:
  • Phase I (12 months): This phase comprises of 7 months of on-campus classroom training & 5 months of internship in ICICI Bank. Upon successful completion of this phase, participants are awarded a Post Graduate Diploma in Banking (PGDB).
Salient Features of Probationary Officer Training Programme:
  • The training has a blended curriculum with instructor led classroom sessions, e-learning and internship at ICICI Bank branches/offices.
  • The training imparts knowledge and skills in core banking (banking products,banking operations, channels and customers, receipts and payments, etc). The trainees will have the opportunity to specialize in one of the following areas in banking:
  • i) Trade Finance ii) Privilege Banking iii) Rural Inclusive Banking iv) Retail Banking v) Any other Profile as decided by ICICI Bank.
  • The participants are put through a very rigorous training with special emphasis on application of knowledge and overall development of personality.
  • The classroom sessions (7 months) are conducted at the ICICI Manipal Academy and internship (5 months ) at any ICICI Bank branch or office (within India).
  • The Probationary Officers are paid stipend to meet the out of pocket expenses.
  • The Probationary Officers will get an assured employment with ICICI Bank on successful completion of the Probationary Officer Training Programme.
  • The faculty is comprised of experienced professionals in the domain of banking and finance and behavioral sciences. There is a special focus on the overall grooming of the individuals and that is further facilitated through a learning environment that is created through lectures delivered by experts from ICICI Bank and the banking industry.
  • The campus is equipped with the best educational infrastructure e.g. air-conditioned classrooms, video conferencing rooms, auditorium, well stocked library, boarding and lodging facilities, recreation and sports facilities, etc. The residential nature of the programme ensures that the Probationary Officers imbibe the culture and values of ICICI Group.
  • Phase II [Optional] (18-30 months): This phase comprises of 18 months of Online Training (3 Semesters). It is designed to provide managerial skills to the students. This phase commences after the students join the Bank. It provides an opportunity to complete the training programme while working. On completion of this phase by participants who opt for it and pay the requisite fee, an MBA( Banking and Finance) is awarded by the Manipal University. Students have the option of completing Phase II in 30 months. MBA degree will be conferred only on the successful completion of both Phase I and Phase II.
Eligibility Criteria 
  • Those who have completed graduation with 55% (Aggregate) marks in any discipline.
  • Up to 25 years of age as on 10th January 2014 (should have been born on or after 9th January 1988).
  • Only shortlisted applicants will be invited for the selection process.
The above will be considered as the threshold crieteria for shortlisting.

Selection Process and Fees of the Training Programme
Selection Process
The selection process for Probationary Officer will consists of
  • Online Aptitude test
  • Online Psychometric Assessment
  • Case-based Group Discussion (GD)
  • Personal Interview (PI)
*The GD and the PI (only for applicants who successfully clear the GD) will be concluded on the same day.
Fees of the Training Programme (Provided through bank loan by ICICI and with guaranteed absorption for job by ICICI with Assistant Manager Grade with starting salary of 4.00 Lakhs per annum)
The Probationary Officer Training Programme is a cashless bridge to managerial jobs for aspiring students. To pursue the Probationary Officer Training Programme, the interested students will have to invest rupee 3.37 lakh (The course fee is rupee 3 lakh. Along with the applicable service tax at the current rate of 12.36%, the total amount to be paid is rupee 3.37 lakh). However, during repayment of the loan, the prevalent service tax rates will apply ) which would be provided by ICICI Bank as a loan at a subsidized interest rate of 2.5%. p.a. This is the fee for the first phase of the PGDB programme. The fee for Phase II is an additional amount of rupee 1.5 lakh. This will be paid by students who opt for this phase.
After completion of the Training Programme, the Probationary Officers will be absorbed as Assistant Manager in the Bank. The loan is to be repaid by Probationary Officers in equated monthly installment (EMI) after joining the Bank. There would be no recovery of EMI or interest during the training and internship period, the interest accrued during this period would be recovered along with the normal EMI. The EMI is spread over a period of 60 months to ensure that there is minimal impact in the monthly earnings of the Probationary Officer.
However, if the applicant leaves during training or within five years of joining ICICI Bank after training, ICICI Bank would recover the principal and the interest at market rate on the entire loan amount for the period that the amount was given as a loan to the Probationary Officer.

Career option with ICICI Bank after completing probationary officer's training:
IICICI Bank follows a meritocracy based performance oriented culture where deserving employees are given responsibilities ahead of time.
Probationary Officers who successfully complete the Probationary Officer Training Programme will join at the grade of Assistant Manager (Band l). They will be placed in any one of the following areas:
  • Trade Finance.
  • Privilege Banking.
  • Rural Inclusive Banking.
  • Retail Banking.
  • Any other Profile as decided by ICICI Bank.
On absorption in ICICI Bank, the Probationary Officers will be on probation for a period of one year. The gross salary of a Probationary Officer on joining the Bank after training will be more than Rs. 4 lakh per annum.

In a nutshellNow compare it with an MBA from  a B grade or C grade institute.

Investment: 4 lakhs

Investment years: 2

Waiting period for job: 6 months to 12 months

Starting salary: 12000 a month.

Now compare the same with the above programme. Yes, it is not easy, not a cakewalk but if you are determined to make a good career, you have to put all efforts.

For applying and more details, please visit:

All queries are welcome

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