Foreign and domestic banks are on a hiring spree

Banking and financial services firms are on a hiring overdrive and recruitment is not limited to finance or corporate banking but the focus is on tech roles as they embrace digitisation on a larger scale.

The firms are tapping leading undergraduate and engineering colleges and business schools for fresh talents, the Economic Times has reported.

Increasing campus placements

Private lender Axis Bank aims to hire 50% more through campus placements than last year, the report said, adding that Goldman Sachs’ India will recruit about over 1,900 for 2022, up by 27%;

JP Morgan’s campus placements will increase by 23% for full-time analysts and 38% for interns. Citi, Deutsche Bank and Mastercard too have aggressive hiring plans, especially for digital skills.

Jobs are open in finance, operations, treasury, risk, analytics, research, investment banking and corporate banking.

Deepika Banerjee, co-head of Goldman Sachs Services, is quoted as saying in the Economic Times that campus recruits for 2022 will go up by 43%, 24% and 6% across graduate colleges, engineering colleges and business schools, respectively. Onboard talent through internship is a key feature of Goldman Sachs strategy in India.

Gaurav Ahluwalia, head of HR, India Corporate Centers, JP Morgan, is quoted as saying that there is a growth in hiring across business lines but primarily for technology and techno-functional roles.

Aditya Mittal, interim CHRO for Citi India, said, talent from India is key to supporting digital transformation.

Madhavi Lall, head HR, Deutsche Bank India said India one factor driving the demand for talent is the continued flow of work from global corporations into their global service centres in India. Deutsche Bank plans to onboard a few hundred graduates and interns from the class of 2022. Most hires for digital roles and there is fair level of competition for talent in this space, she added.