What is the Growth of the BFSI Sector in 2022
July 12, 2022
BFSI Sector is the booming Sector!!!
In times of pandemic, too, the sector was thriving unstoppably.
However, the growth has not standstill.
It is booming & booming years after years!!
Let us have a look at what is the growth of the banking, financial services, and Insurance (BFSI) sector in 2022.
BFSI Sector Growth 2022:
We all are well-versed in how badly the Covid-19 affected everyone’s lives, not only in terms of health but also financially and professionally.
The hiring community in the BFSI Sector witnessed a great dip from April 2020 – May 2021.
The biggest and most well-known Global Employment website— Monster.com, said, “The industry bounced back and has exhibited a consistent growth pattern since June 2021, which saw a promising 7 percent improvement in the intent to hire.
This demand continued to grow with July 2021 noting a spike in demand for professionals at 22 percent year-on-year,”
Monster.com added, “With the increased adoption of digitization and new-age tech, which essentially paved the way for recovery in the industry, recruiters in banking and finance industry are on the lookout for professionals adept in technical and analytical skills.”
As we can understand from these above statements given by one of the popular employment companies that there is an enormous spike in the BFSI Sector and ample opportunities awaiting the banking aspirants.
Cities With Highest Opportunities in BFSI Sector:
The opportunities in the BFSI sector have increased tremendously; there is a high demand for BFSI Professionals in metropolitan areas and Tier 1 and Tier 2 cities.
As per the data, the top 10 cities with the highest annual growth for BFSI Jobs (Feb 2022 vs Feb 2021)
Jaipur ranks first in the data with the highest growth of 56%, Pune with 41%, and Mumbai with 37%. Bangalore, Delhi – NCR, Chennai, and Kolkata with 23%, 23%, 22%, and 22%, respectively. Additionally, Hyderabad, Coimbatore, and Baroda with 16%, 14%, and 11%, accordingly.
Future enabled skills Requirements:
Looking at the current growth of the BFSI Sector, the candidates need to acquire job skills to sustain themselves in this competitive market.
- Agility and Digital awareness
- Entrepreneurial thinking skills
- Analytical skills
- Customer Dealing skills
- Communication skills
- Numerical skills
- Managerial Skills
- Technical skills
You can too increase your chance of getting job opportunities in the BFSI Sector. You need ample knowledge about the BFSI Sector and essential fundamental skills that will help the wheels move endlessly.
You can acquire comprehensive knowledge about the BFSI Sector from Thadomal Shahani Centre for Management.
It offers a 4-in-1 Professional Diploma in Banking, Financial Services, and Insurance (PDBFSI). It uses an innovative teaching methodology with professional experts for the guidance of students!!