Financial services sector to add 47,800 new jobs — Delhi, Mumbai top locations

• The financial services sector will ramp up hiring in the first half of this fiscal — adding 47,800 job roles.
  
• Of this, 10,800 jobs will be located in Delhi and Mumbai.
  
• The top roles for the hiring will be engineering, marketing, office services and blue collar jobs.

The financial services sector is likely to ramp up hiring across the country, bringing in good tidings to scores of job seekers.

According to a recent survey by TeamLease Services, the financial services sector will add nearly 47,800 new jobs in the first half of 2019-20.

The ‘Employee Outlook for April to September’ noted that opportunities will be open across functionalities like engineering (accounting for over 5% of total jobs), marketing, office services and blue collar jobs. However, sales and IT segments will not see a positive hiring curve.

Nearly 10,800 of these job opportunities will be located in Delhi and Mumbai, the survey said. The increase in hiring may be due to growing digitization in banks, thereby creating new roles. Financial services companies and banks will hire freshers and also fill up mid-level roles.

While mid-level recruitment is expected to grow by 4%, the industry will also witness a 3% increase in entry-level employees. The number of jobs at mid-sized companies will grow at 5%, while large enterprises will remain steady at 2%. The survey was conducted across 19 verticals and 960 enterprises and businesses.

Hiring in the services sector is expected to be higher as compared to others like FMCG, IT and real estate. Hiring in the Southern region might be higher than the country average, as 14% of companies in the region are expected to hire, according to Manpower Group.

On the flipside however, one in five finance jobs are expected to be replaced by robots globally, owing to rapid automation, as per consulting firm KPMG.

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