According to a report by TeamLease Services, the BFSI sector is expected to witness noteworthy growth in FY 2025. As per the report, banking is set to lead this growth trajectory with a projected 7.21 percent increase in employment, followed by NBFCs with 5.41 percent and insurance with 5.25 percent. Adding to this, the FinTech sector, driven by innovations like UPI and open banking is anticipated to grow by 4.89 percent.
Furthermore, the BFSI sector is expected to witness an average salary hike of 10-12 percent in 2024-2025, reflecting the increasing demand for skilled professionals in the industry. Adding to this, BFSI companies are also offering competitive salaries for tech-related roles; professionals specializing in AI and ML can expect salaries which can range from Rs. 15-20 lakh per annum at the mid-level, with senior roles exceeding Rs. 50 lakh per annum.
Another noteworthy aspect would be the gender diversity, wherein, women currently make up only 18 percent of the BFSI workforce, and there is a noticeable gender pay gap. However, companies who are focused on gender diversity are offering 15-20 percent higher salaries to attract female talent, particularly in leadership and tech roles.
The BFSI sector in India is seeing significant growth in both salaries and demand for specialized talent, particularly in tech-driven and hybrid roles. To attract top-tier candidates, employers are offering competitive packages and focusing on flexibility, diversity, and upskilling opportunities. However, a catch lies here, i.e., the importance of BFSI recruitment consulting.
As the BFSI sector has always been a dynamic, fastpaced industry, it requires specialized talent with technical skills, regulatory knowledge, and adaptability. This is where recruitment consulting in BFSI plays a crucial role in bridging the talent gap, ensuring organizations have access to skilled professionals who can drive growth, manage risks, and stay compliant with evolving regulations. Understanding this, Finance Outlook India brings to you our yet another meticulously crafted monthly edition - ‘10 Most Promising BFSI Recruitment Consultants’. Through this edition, we will showcase some of the most sought-after recruitment consultants who have the proven track record in aiding players in the BFSI sector to procure best-in-class talent, while helping professionals in placing themselves in some of the most reputed companies in the field of BFSI.
