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 15-18 per cent increase in hiring in markets like Indore, Coimbatore, Nagpur, and Guwahati, along with rising traction in Surat, Jaipur, Lucknow, and Bhubaneswar by 11-13 per cent, added the report.
“The hiring landscape in the BFSI sector is being redefined by two converging shifts: the rapid rise of digital-first investors and the pivot towards tier II and III cities. While hiring demand remains strong across the BFSI sector, mutual fund companies and wealth management firms are leading the surge by over 9 per cent, as market-linked investments gain traction beyond metros,” Adecco India Director and Head of Business – Permanent Recruitment, Karthikeyan Kesavan said.
Upskilling is gaining more traction with businesses evolving at a much faster pace, for example, in the insurance category, 78 per cent of insurers have prioritised upskilling and they have seen a 30 per cent boost in claim efficiency just by addressing the knowledge barrier, he added.
The insights and numbers presented in the report are derived from data collected across more than 100 Adecco clients, supplemented with credible market research sources.
The Adecco Group is a global talent solutions provider that supports over 100,000 companies and enables more than 3.5 million careers every single year, according to the company website.
The report further revealed that with financial literacy deepening and investment awareness spreading beyond metros, the demand for permanent, locally-based professionals is poised to accelerate.
Diversity also remains a key focus, with hiring of underrepresented groups in these regions projected to grow by more than 30 per cent, it added.
“We are also witnessing consistent momentum with a 30 per cent surge in mid-to-senior hiring across ESG strategy, AIF/PMS compliance, and digital wealth functions, areas that didn’t even exist at scale a few years ago. To support this evolution, we’ve strengthened our internal skilling stack using AI-led assessments, microlearning formats, and mobile onboarding, all geared towards faster, regionally attuned deployment,” Kesavan added.
