BFSI sector to add 2,50,000 jobs by 2030, focus on tier-II, III cities: Report

India’s Banking, Financial Services, and Insurance (BFSI) sector is set for robust growth, with hiring projected to rise 8.7% in FY26 and reach 10% by 2030, generating nearly 2,50,000 permanent jobs, according to a report by Adecco India. The growth is being driven by tier-II and tier-III cities, which now account for 48% of new roles, signalling a shift from metro-centric recruitment. H1 FY25 saw a 27% increase in hiring across frontline, digital, and compliance functions. Candidates with local language skills and grassroots sales experience are now 2.5 times more likely to be shortlisted and command 10–15% higher compensation, reflecting rising demand for talent in mutual funds, insurance, and pension products.
The report highlights the surge in specialised roles, with banks increasing hiring for sales and relationship executives, digital product managers, and credit risk analysts, while wealth and insurance firms are seeking financial planners, investment advisors, digital underwriters, and claims automation specialists. Markets such as Indore, Coimbatore, Nagpur, and Guwahati have seen a 15–18% rise in recruitment, with Surat, Jaipur, Lucknow, and Bhubaneswar registering 11–13% growth. Upskilling initiatives have strengthened efficiency, particularly in insurance, where 78% of firms have prioritised training, improving claim handling by 30%. Diversity and digital-first investment trends are also shaping hiring, with mid-to-senior roles in Environmental, social, and governance (ESG) strategy, Alternative Investment Fund/Portfolio Management Services (AIF/PMS) compliance, and digital wealth functions experiencing a 30% surge, supported by artificial intelligence (AI)-led assessments and mobile-enabled onboarding.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.