Hiring Trends In Banking

Posted by: Rahul

The banking sector holds a potential opportunity for youth particularly from semi urban and rural areas as employment.This sector may create up to 20 lakh new jobs in the next 5-10 years, helped by issuance of new licences and efforts being made by the RBI and the Government to expand financial services into rural areas, according to experts. A bulk of the total hiring of the private banks which started expanding their physical presence few years ago , hiring from tier-3 to tier- 6 cities now forms 60-70% of the total recruitment. Hiring trend may get a further boost from the public sector banks, as many of them would need to hire fresh talent in the wake of nearly half of their workforce scheduled to retire in the next few years. With the new banking licences, the banking sector is poised to create big career opportunities in the near future. With new banks being set up in Tier 2, 3 and 4 cities, there will be growing demand for business correspondents, sales executives and other banking professionals to reach out to the rural population. In the months to come, we expect to see higher hiring momentum in tier 2 and 3 cities to begin with. The hires in tier-4 to tier-5 cities are done locally because banks prefer locals to gain from their demographic experience for better services. Clearly, Tier 2,3 and 4 cities would be the biggest beneficiaries as most of the existing banks are looking to expand into these cities.


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