PSB Employee Worries About Job Security Amidst Digitalization

Ans: Dear Anand,

Sorry for the delay in reply

Several factors to weigh you may consider-

Do your skill assessment this evaluate your current skills and identify if any gaps for a successful transition
Consider acquiring any relevant course/ certifications if needed
Consider potential impact on your salary if the new field has growth prospects which are aligning to your long term plans and has a potential to growth then you may consider taking the dip.
Reflect on your long term career goals. Ask yourself will the switch contribute to the overall career satisfaction?
Network with people who have made similar transitions. Understand Pros and Cons. Be prepared.
Consider your current level of job satisfaction in the current role. If you are constantly feeling dissatisfied then might be worth exploring newer options.
Keep an eye on the market trends

Tip to consider- job switch decision involves a balance between financial, personal satisfaction and fulfillment and long term goals.
Approach the decision with careful planning and knowing the pro's and con's
Keep the mitigation/ risk (if any) strategy in place

Hope this helps

Thanks
Ashwini Dasgupta
Author of Confidence Decoded. Is it a Skill or Attitude

Ans: Ok

Ans: I had a student who had similar work ex in PSB. She went on to do 1 year executive MBA from XLRI and now is placed in a good position and good pay in a private bank. There are 2 ways to shift. Good option would be to do executive MBA and then move to private bank or directly move to BM level in which case lack of post graduate degree could hamper future promotions. But your growth in private banks will mainly depend on your performance.

Ans: Can look at getting a RIA license and work as an advisor. Can also look at working as a consultant in relevant companies. But these are risky options with no steady source of income. Another option would be to do PhD and try being a teacher. Can do PhD along with your job.