Forecast of 2.5 lakh jobs in BFSI by 2030

Mumbai: India’s BFSI sector is set for robust growth, with hiring projected to rise 8.7 per cent in 2025-26 and touch 10 per cent by 2030, creating nearly 2.5 lakh permanent jobs, a report said on Thursday.

This growth in the Banking, Financial Services, and Insurance (BFSI) sector is being driven by rising demand in tier-II and III cities, marking a clear shift from metro-centric recruitment.

“The heartland of India is emerging as a powerful engine of talent demand in the BFSI sector, with nearly 48 per cent of new roles now originating from tier-II and III cities,” workforce solutions provider Adecco India said in a report. The first half of FY25 saw a 27 per cent increase in hiring activity compared to the corresponding period of the previous year, signalling strong momentum across frontline, digital, and compliance functions, according to the report. Candidates with local language proficiency and grassroots sales experience are now 2.5 times more likely to be shortlisted and command 10-15 per cent higher compensation, added the report. As households move from traditional assets to market-linked instruments like ULIPs, mutual funds, and pension products, the demand for talent is rising across the sector, it stated.

Meanwhile, banks have increased hiring for Sales and relationship executives, digital product managers, and credit risk analysts are some of the most sought-after roles in traditional BFSI hiring this year, it said. The report revealed that wealth and insurance firms are increasingly seeking financial planners, investment advisors, digital underwriters, and claims automation specialists, amongst others. This has led to 15-18 per cent increase in hiring in several markets including Indore, Coimbatore, Nagpur, and Guwahati.