The banking and financial services (BFSI) sector is expected to grow by 8.7% in 2025-26 and 10% by 2030, adding 250,000 permanent jobs, a report by Adecco India said on Thursday.
This growth in the sector is being driven by rising demand in tier II and III cities, marking a clear shift from metro-centric recruitment.
The first half of FY25 saw a 27% increase in hiring activity, compared to the year-ago period, signalling a strong momentum across frontline, digital, and compliance functions, the report said.
The Rise of Technology and Compliance-Led Hiring
Said Karthikeyan Kesavan, director and head of business – permanent recruitment, Adecco India: “We are witnessing a consistent momentum with a 30% 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.”
In banking, technology and compliance-led hiring has increased by 9.75%, the report said.
“Public and private sector banks are strengthening digital teams with talent across core banking modernisation, cloud-based infrastructure, interactive chatbots and seamless digital app experience. There is also 7%-8.25% growth in hiring for credit underwriting, collections and regulatory compliance as credit penetration rises across MSMEs and rural segments,” it said.
Surging Demand Across Financial Services and Insurance
With mutual funds and brokerages expanding advisor networks and fintechs ramping up technology and product teams for personalised finance, hiring in financial services is surging. Regulatory and cyber risks have also increased the demand for roles in compliance and fraud detection.
In the insurance space, too, hiring has seen a 6-9% uptick for roles like digital underwriters, AI-based claims specialists, fraud detection analysts and digital appraisers, the report said. “With Irdai pushing for insurance inclusion and tech-first processes, the sector is seeing a sustained 5-7% year-on-year hiring growth across both tech and traditional functions.”