Which Career to Choose Merchant Navy Or Banking Job |Merchant Navy vs Banking Job|

In the choice between Merchant Navy V/S Banking Job, individuals stand at a crossroads, on one side there is an adventure on the high waves of the sea on the contrary the other side promises stability and growth potential. Dig into the comparison between two of the most demanding and lucrative career options.

Merchant Navy

Merchant Navy

Merchant Navy refers to the fleet of commercial ships that transport goods and passengers across international waters. Not only that, Merchant Navy also plays a vital role in global trade, facilitating the movement of goods and commodities between countries. 

Banking Job

Banking involves the financial industry’s activities, including managing financial transactions, providing various financial services, and facilitating money flow within the economy, with contrary to that Banking professionals include bankers, financial analysts, loan officers, and tellers, who work to manage and optimize financial resources for clients and institutions.

Qualification to join Merchant Navy and Banking Job:

Merchant Navy

Merchant Navy

Here are the steps to join the Merchant Navy and subsequently embark on an exciting career at sea:

  1. GP Rating: 10th or 12th pass with GP Rating course.
  2. Diploma in Nautical Science (DNS).
  3. B.Sc in Nautical Science.
  4. B.Tech in Marine Engineering.
  5. Graduate Marine Engineering (GME).


Here are the qualifications that are required to join a bank:

  1. BBA in Banking/ Accounting
  2. Bachelor in Finance and Accounting 
  3. Bachelor in Statistics and Business 
  4. Bachelor in Banking and Insurance 
  5. Bachelors of Commerce

Entrance Exam and Selection Rate 

Merchant Navy

These are the steps that you need to follow to get into Merchant Navy 

  1. Indian Maritime University Common Entrance Test (IMU CET)
  2. Written Exam conducted by colleges and company 
  3. Personal interview 
  4. Psychometric Test
  5. Medical/ Fitness test 

Selection Rate Of Merchant Navy Exam

Exam Name Indian Maritime University Common Entrance Test (IMU CET)
Number of Candidates applying 22495

Approx 4000 candidates are selected in other private colleges.

Banking Job 

There are various ways you can join Bank for a job such as:

  1. State Bank of India Probationary Exam 
  2. IBPS Probationary Exam
  3. RBI Grade B Officer Exam
  4. IBPS Clerk Exam
  5. PBI Assistant Exam 

Selection Rate of these Exams

Name of Exam Number of Candidates ApplyingNumber of Candidates getting selected
SBI PO 202210,00,0001673
IBPS PO 20225,74,0006932
RBI Grade B2,00,000200
Banking Job

Salary Insights 

Merchant Navy 

The salaries of merchant navy officers at different levels and departments onboard ships vary, depending on factors such as rank, experience, and additional certifications. However, it is important to note that salary structures can change over time, and specific figures may vary.

RankDry ship (Bulk/RO-RO/Container etc.)Tanker Ship (Oil/Chemical/Gas etc.)
Chief Officer$6500–$8500$7500–$9500
2nd Officer$4000–$4800$4000–$5000
3rd Officer$2400–$3600$2600–$4200
Deck Cadet$350–$750$350–$750
Chief Marine Engineer$8000–$10000$9000–$14000
2nd Marine Engineer$6500–$8500$7500–$9500
3rd Marine Engineer$4000–$4800$4000–$5000
4th Marine Engineer$2400–$3600$2600–$4200
5th Marine Engineer$350–$750$350–$750
Electro-Technical Officer$2500–$4500$3500–$5000

For more information refer to this https://www.merchantnavydecoded.com/merchant-navy-salary/ 

Banking Job

Post Salary
Chairman 2.8-3 lakh 
MD 2-2.8 lakh
Chief General Manager2-2.5 lakh
General Manager 1.9-2 lakh
Asst. GM1.8-1.9 lakh
Chief Manager1.5-1.56 lakh
Branch Manager1.10-1.13 lakh
Asst Manager74-76k
Probation Officer50-60k

To get insight into the Salary Comparison between the two, Refer to this video:

Merchant Navy Vs Banking Job 

Working Environment 

Merchant NavyBanking Job
Unique and challenging environment Stable work environment and office-based job
Harsh weatherOccasional travel
Life at sea is physically demanding Mentally demanding 

Social Life

Merchant NavyBanking Job
Merchant Navy employees have limited social interaction while at sea Banking jobs offer more opportunities to socialize with colleagues and client
Away from family for a long time Job transfer
No festival holidaysYou can stay with family daily 

Job Security 

Merchant Navy

Officer on Watch at the bridge
  • Job security in the Merchant Navy can vary based on various factors, for instance, global economic conditions, shipping industry trends, and geopolitical situations.
  • While there is demand for maritime professionals due to international trade, the nature of the industry can lead to fluctuations in employment opportunities. 

Banking Job 

  • Job security in the banking sector is generally considered stable due to the essential role banks play in the economy.
  • Banks provide core financial services, and the need for functions like lending, investment management, and payment processing remains consistent.


In conclusion, both the Merchant Navy and banking offer unique career paths with their own set of opportunities and challenges. Both fields contribute significantly to the global economy and provide avenues for personal and professional growth.

In the face-off between Merchant Navy V/S Banking Job, the former presents the thrill of maritime adventures and cultural immersion, while the latter ensures stability and the power to influence financial realms. Both sectors seek adept professionals who navigate evolving technologies and settings. Undoubtedly, individuals can find fulfillment in either field based on their interests, skills, and long-term aspirations. 

Whichever path one chooses, a commitment to continuous learning and adaptability will undoubtedly lead to a successful and rewarding career journey.

Indian Navy V/S Merchant Navy – Which is better? Click Here

If you have any questions, please leave them in the comments section below.

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Maheshwar Minz

Very clarified knowledge good for new joining 😁