The highest-paying job roles in the BFSI sector are portfolio manager, risk manager, and investment banking analyst earning a yearly median salary of Rs 11,50,000, Rs 9,00,000 and Rs 7,00,000, respectively, according to a report by jobs site Indeed. Between February 2020 and February 2023, some of the other job roles that featured in the top-10 list of highest salaries include finance manager, wealth manager and credit manager.
The report said the top-5 job roles with the highest percentage of job postings are Bank Officer (11.29 per cent), Loan Officer (5.27 per cent), Financial Analyst (4.46 per cent), Finance Manager (3.93 per cent), and Risk Manager (3.92 per cent).
While Bank Officer topped the list of job postings in the last one year, it was interesting to note that it also featured as one of the lowest paid roles (Rs 2,50,000 per annum) along with roles such as Investment Consultant and Financial Consultant. The Loan Officer was the least paid at Rs 2,25,000. Additionally, the jobseeker interest (clicks) on the platform also increased by 29 per cent during the same period.
Sashi Kumar, head of sales, Indeed India, said, “We saw jobs in the BFSI (banking, financial services and insurance) sector growing at 25.2 per cent in February 2022, indicating the potential of the industry in India. However, the decline in job postings in 2023 suggest that the industry may be reaching a point of stability rather than rapid growth.”
He added that given a relatively challenging economic environment and punctuated by high inflation, India’s BFSI labour market remains pretty healthy as compared to other matured markets in the world. The need for qualified experts will probably increase in the sector over the coming several quarters as the banking and finance industry continue to evolve technologically.
Sustained Growth of Jobs in BFSI Sector
The report showcases a 53 per cent growth in BFSI job postings in India, indicating a positive trend in the sector.
Additionally, the job postings grew by 9.7 per cent during February 2022 to February 2023 and 11.5 per cent in 2021. The period from February 2021 to February 2022 saw the highest growth in job postings (25.2 per cent).
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