The proliferation of technologies such as UPI is accelerating the adoption of digital instruments in financial services. This has also widened the scope of roles in this field, especially in the mid-career field.
Dhriti Prasanna Mahanta, vice president and business head at TeamLease Degree Apprenticeship, says these changes have led to an increase in demand for specialized roles. Currently, mid-senior level hiring includes positions such as credit analysts, investment bankers, and financial analysts focused on risk assessment, capital management, and financial planning. Asset managers oversee investment portfolios, and product managers develop innovative financial products. In fintech, roles such as cybersecurity managers, data scientists, research analysts, software developers, machine learning experts, and database architects are becoming important, leveraging advanced analytics and technology to grow businesses. and improve customer experience.
Aatash Shah, Senior Vice President and Business Head, Manipal Academy, BFSI, says 80% of transactions are done through digital platforms, operational roles are moving digital-first, and recruitment is now driven by digital channels. The company says it focuses on customer engagement through . This reflects an industry-wide trend toward more digitally savvy roles than traditional operations roles.
Increased flexibility in filtering candidates at mid-senior level, combined with a strong focus on diversity, will enable the BFSI sector to have a unique perspective and easily navigate a technology-driven environment in 2025 , suggests they are likely to prioritize diverse and experienced talent, he says.
What pay scale does the role fall under?
Salaries for mid-to-senior positions in banking and financial services in India typically range from Rs 1.5 million to Rs 25 million annually, depending on experience, specialized knowledge and complexity of the role, Mahanta said. Investment banking professionals often command higher remuneration of 30-40 million rupees per year, reflecting the high-stakes nature of the job.
Fintech professionals such as data scientists, machine learning experts, and cybersecurity managers also command high remuneration, with salaries ranging from Rs 2 million to Rs 35 million, considering their technical expertise and market demand. It is given.
Which skills are prioritized?
Mahanta said the key skills needed for mid-senior roles in Indian banking and financial services include financial modeling, data analysis and programming with Python and SQL. Proficiency in machine learning, cloud computing, and cybersecurity are becoming increasingly important in fintech roles. Soft skills such as problem-solving, leadership, and effective communication are also highly valued as they enable professionals to address complex challenges and drive strategic outcomes. Additionally, a deep understanding of the regulatory framework is essential, especially in roles in risk management and compliance, to ensure alignment with evolving industry standards. There is also a growing diversity of employment practices. In Shah’s view, salary expectations are increasing the dominance of tier-2 cities over tier-1 cities as a source of talent. This highlights a significant increase in regional recruitment. This is especially important for banks looking to expand into underpenetrated markets while controlling costs.
Diversity continues to be a priority in mid-level recruitment. However, the recruitment process allows more discretion in filtering candidates compared to entry-level programs, where the selection process is uniform and open to a wide range of applicants.
Shah estimates that hiring will continue to be concentrated in roles that require customer acquisition and engagement in 2025 due to continued branch expansion (400-500 additional stores per year) combined with the shift to digital customer service. It has been shown that this is highly possible. Emphasis will be placed on digital tools skills and communication skills, with banking knowledge being of secondary importance.
However, talent retention challenges are likely to continue into 2025, with competitive compensation, L&D focused on personal and corporate growth, and cultural focus to reduce turnover, especially in lateral recruitment channels. Adjustments are important.
