Bengaluru, April 2023: Data from Indeed, the world’s no. 1 job site, shows that the highest paying job roles in the BFSI sector were Portfolio Manager, Risk Manager, and Investment Banking Analyst earning a yearly median salary of INR 11,50,000, INR 9,00,000 and INR 7,00,000 respectively. During the period February 2020 to 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 data further reveals that the top five job roles with the highest percentage of job postings are Bank Officer (11.29%), Loan Officer (5.27%), Financial Analyst (4.46%), Finance Manager (3.93%), and Risk Manager (3.92%). 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 (INR 2,50,000 per annum) along with roles such as Investment Consultant and Financial Consultant. The Loan Officer was the least paid at INR 2,25,000. Additionally, the jobseeker interest (clicks) on the platform also increased by 29% during the same period.
Sashi Kumar, Head of Sales, Indeed India said “We saw jobs in the BFSI sector growing at 25.2% 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. 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 the BFSI sector
The data showcases a 53% growth in BFSI job postings in India, indicating a positive trend in the sector.
Additionally, the job postings grew by 9.7% during February 2022 to February 2023 and 11.5% in 2021. The period from February 2021 to February 2022 saw the highest growth in job postings (25.2%).
