Banking and finance firms on recruitment spree in colleges

Banking and finance firms on recruitment spree in colleges

Top banking and financial services firms are on hiring overdrive due to the growth of businesses at the nation’s leading graduate and engineering colleges and business schools and increasing pressure to digitize in a post-pandemic world.
Apart from jobs in finance, operations, treasury, risk, analysis, research, investment banking and corporate banking, the big focus this year is on technology roles, a post-Covid event where organizations in the BFS space have started to push heavily . There is a need to enhance our digital offerings.

Axis Bank plans to bring in 50% more campus hires than last year; Goldman Sachs’ India campus will see a 27% increase in hiring for 2022, with over 1,900 hires including interns; For JPMorgan, campus intake will increase by 23% for full-time analysts and 38% for interns. Others, including Citi, Deutsche Bank and Mastercard, are also recruiting aggressively, especially for digital skills.

“For 2022, our campus hiring to graduate colleges, engineering colleges and business schools will increase by 43%, 24% and 6%, respectively. This reflects our growth in businesses and the availability of world-class talent in India.” Deepika Banerjee, Co-Head of Goldman Sachs Services. Engagement of talent through internships is a key element of the firm’s campus hiring strategy in India.

For JPMorgan, campus recruitment contributes significantly to meeting the increased hiring numbers by bringing in entry-level talent. Gaurav Ahluwalia, HR Head, India Corporate Centers, JP Morgan, said, “The increase this year has been driven by increased recruitment requirement for all types of businesses and primarily technology and techno-functional roles.”

Aditya Mittal, interim CHRO, Citi India, says, “Citi is committed to staying ahead of the digital transformation across geographies and across our institutional and corporate banking businesses in India. Talent from India is key to supporting these focus areas.”

Madhavi Lal, Head HR, Deutsche Bank India, said that India has consolidated its position as a global technology hub, an additional factor driving the demand for talent from global corporations to their global service centers in India. There is a continuous flow of work. They expect to include a few hundred graduates and trainees from the target institutions for the Class of 2022. “We are actively hiring for digital skills, which constitute the majority of our intake, and we are seeing a fair level of competition for talent in this area,” says Lal.

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