Hiring trends and projections of BFSI sector

Hiring trends and projections of BFSI sector

BFSI sector is the top performing sector in terms of hiring during the HY-2015. The sector has saw 10% growth in hiring activities during the year 2015. The rise in incomes demands more banking services in rural areas expecting to create tremendous growth in employment creation. BFSI sector need 9 million workforce by 2020 as per an estimated value. To meet the growing needs of the sector BFSI setup skill council of India to enhance skill development across sector. There is more demand for core banking, insurance and financial services roles. The demand for IT professionals at senior level is also on rise in 2016. Talent demand in BFSI sector is expected to grow in small towns with the RBI licensing policy allowing banks to set up new branches in tier II to VI cities without prior approval. Demand for middle and senior level is more as compared to junior level in 2016. Opportunities for wealth management specialists and financial analysts projected to grow in 2016. Employers are looking to hire the functional roles like legal, treasury management, technical valuation, corporate finance. There will be more demand for top talent in small cities rather than metros for banking roles.

Experts believe that there are many job opportunities for freshers across banking, NBFC, life insurance and capital market. Indian BFSI sector currently need 1,00,000 qualified wealth mangers. During the year 2015, Bangalore topped the list of jobs creation for junior-level followed by Mumbai, Delhi NCR and Pune. Functional roles like core banks, insurance, finance roles had maximum job share; stable demand for sales/BD professionals, Accounting and front office, IT professionals reported rise in demand at junior level.BFSI sector created maximum jobs for IT professionals across core banking, insurance and financial services roles. Most in demand roles for senior level are Application programming, project leader/ project manager, database administration (DBA), channel and corporate sales specializations. Bangalore, Chennai and Pune reported positive growth in jobs creation, DelhiNCR saw drop in jobs creation.

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