HDFC Will Hire 5000 Freshers: But They Need To Pay Rs 3.3 Lakh For Training, Get Rs 4 Lakh On Joining

Indian’s one of the biggest private banks: HDFC Bank has announced that they will hire 5000 freshers this year.

This is certainly one of the largest announcements for freshers’ hiring this year from a private bank, but there is a catch.

Candidates will need to pay upfront Rs 3.3 lakh for training at a private institute, and then, if selected, get Rs 4 lakh as the first-year salary.

Sounds interesting, certainly. 

HDFC Bank Will Hire 5000 Freshers Via Training

HDFC has tied up with the Manipal Global Academy of BFSI, for training and development. This course has been specifically tailor-made and designed for hiring freshers in a bank.

The candidates will need to pay Rs 3.3 lakh for a year of training, and once the training is completed, HDFC Bank will hire the candidates.

Rs 4 lakh has been promised as the starting salary for the successful candidates.

However, the bank has made it clear that not every candidate who completes the training will be hired. Only those, who pass the ‘employability’ criteria will be absorbed by the bank.

How Will This Course Commence?

This shall be a diploma course, for one year.

While 6-months would be in-class training, the second half will be on-job training, inside the HDFC Bank.

After the training of one year completes, the bank will interview all the successful candidates, and the ones who are selected after this filter will be absorbed into the bank.

As per HDFC spokesperson, the bank will hire candidates using this protocol of tie-ups with institutes. 

The spokesperson said, “Digitalisation is changing the skill requirements and for personal banking, we require candidates who are ready to interact with customers. Over a period of time, all our fresher hiring will be through such tie-ups,”

Pre-Selection Training Becomes The Norm?

A few weeks back, we had reported how IT biggie HCL has decided to charge money from the candidates, and then hire the ones who are selected.

In that case, HCL will charge Rs 2 lakh from the freshers for their in-house training, and then offer them jobs based on the performance.

Here too, HDFC Bank has employed a similar strategy, which seems, is becoming the norm now, rather than the exception.

Earlier, most of the IT firms and banks used to first hire freshers, and then provide them training on the job, and then allocate teams/projects based on the performance.

But the trend is clearly shifting now.

We will keep you updated, as more details come in.