Wider use of technologies such as UPI has led to accelerated adoption of digital means in financial services. This has also broadened the scope of roles in the sector, especially in the mid-career space.
Dhriti Prasanna Mahanta, VP and Business Head, TeamLease Degree Apprenticeship, says these changes have led to increased demand for specialised roles. Mid-senior level hiring now includes positions like credit analysts, investment bankers and financial analysts who focus on risk evaluation, capital management and financial planning. Asset managers oversee investment portfolios, while product managers develop innovative financial products. In fintech, roles such as cybersecurity managers, data scientists, research analysts, software developers, machine learning experts and database architects have become crucial, leveraging advanced analytics and technology to drive business growth and enhance customer experiences.
Aatash Shah, SVP and Head-Business, Manipal Academy of BFSI, says with 80% of transactions happening through digital platforms, operations roles are transitioning to digital-first, and recruitment now focuses on customer engagement via digital channels. This reflects the broader industry trend of moving towards digitally savvy roles over traditional operational positions.
Increased flexibility in filtering candidates at the mid-senior level, combined with a strong diversity focus, suggests that the BFSI sector will in 2025 likely prioritise diverse, experienced hires who can bring unique perspectives and navigate a tech-driven environment with ease, he says.
What salary brackets do the roles fall in?
Mahanta says salaries for mid-senior roles in Indian banking and financial services typically range between Rs 15 lakh and Rs 25 lakh per annum depending on experience, domain knowledge and role complexity. Investment banking professionals often command higher packages of Rs 30-40 lakh annually, reflecting the high-stakes nature of their work.
Specialised roles in fintech, such as data scientists, machine learning experts, and cybersecurity managers, are also well-compensated, with salaries in the range of Rs 20-35 lakh, given their technical expertise and market demand.
Which skills are being prioritised?
Mahanta says that the key skills for mid-senior roles in Indian banking and financial services include financial modelling, data analytics, and programming in Python and SQL. Proficiency in machine learning, cloud computing and cybersecurity is increasingly becoming crucial for fintech roles. Soft skills like problem-solving, leadership, and effective communication are also highly valued, as they enable professionals to navigate complex challenges and drive strategic outcomes. Additionally, a deep understanding of regulatory frameworks is vital, especially for roles in risk management and compliance, ensuring alignment with evolving industry standards.There is also increasing diversity in hiring practices. In Shah’s view, there is an increasing dominance of tier 2 cities as a talent source over tier 1 locations due to salary expectations. This highlights a significant rise in regional recruitment. It is particularly relevant for banks aiming to expand into underpenetrated markets while managing costs.
In mid-senior hiring, diversity remains a priority. However, the recruitment process allows for more discretion in filtering candidates, compared to entry-level programmes, where the selection process is uniform and open to a wider pool of applicants.
In Shah’s estimates, the ongoing expansion of branches (adding 400-500 yearly), paired with the shift to digital customer service, indicates that in 2025, recruitment will likely continue to focus on roles requiring customer acquisition and engagement. It will emphasise on skills in digital tools and communication skills giving second-tier importance to banking knowledge.
However, the challenge of retaining talent is likely to continue into 2025, making competitive compensation, L&D focused on individual and company growth, and cultural alignment critical for reducing attrition, especially in lateral hiring channels.
