15% increase in job opps in BFSI; 50,000 temp jobs expected

With demand for festive finance on the rise, a report says that activity in the BFSI space has increased, pushing the demand for workers in the areas of back-end operations, tele operations and sales


Increased activity in the banking, financial services and insurance (BFSI) space has been observed. This is because, the festival season is coming up and there is already more consumer spending, a greater demand for personal finance, credit cards, loans and retail insurance. That means, companies in the sector are looking at expanding their workforces to be able to fulfil the demand for finance products. As per a report, there is already a 15 per cent increase in terms of job opportunities as compared to the last five years.

The demand for temporary workers in the BFSI space has been on the rise consistently over the past couple of years. This rise is seen in tier 1, 2 and 3 cities across India and not just the metros as was the trend in the past. The demand for tele operators and on-the-feet sales personnel has been rising in cities such as Lucknow, Bhopal, Raipur, Pune, Kolkata, Madurai, Kochi and Vizag.

There is more good news. The earnings for temporary workers in these roles have grown by at least seven to about 10 per cent compared to last year. On-the-feet sales personnel in Delhi can hope to earn anywhere between Rs 20,000 to Rs 22,000, while in Kolkata they can earn in the range of Rs 16,000 to Rs 18,000. In Mumbai, their earnings range between Rs 20,000 to Rs 22,000, while in Chennai it is in the range of Rs 18,000 to Rs 20,000. The earnings range in Bangalore is Rs 20,000 to Rs 22,000.

When it comes to tele operators, in Delhi, their earnings fall in the range of Rs 16,000 to Rs 18,000, while in Kolkata the fall in the Rs 13,000 to Rs 15,000 range. In Mumbai, the income lies in the Rs 16,000 to Rs 18,000 range. Chennai offers tele operators salaries in the range of Rs 15,000 to Rs 17,000 and Bangalore offers salaries in the range of Rs 16,000 to Rs 18,000.

The last couple of months have already seen almost 25,000 temporary jobs being generated, and the number is expected to increase further in the next few months, with more credit card transactions and digital payments taking place. This will only go up further with the upcoming string of festivals.

These opportunities are not restricted to just the metros now, because thanks to e-commerce and availability of insurance services across the country, even cities such as Kanpur, Surat and Nashik have shown an increased demand for economic activities.

With the demand expected to go up in the e-commerce, retail, consumer electronics, automobiles, and smartphones sector, the demand for credit cards, personal loans and insurance products is set to rise. Therefore, the second half of 2023 is going to bring a deluge of job opportunities for temporary workers.

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