The Banking, financial services and insurance (BFSI) sector is one of the fast-growing sectors, not only in India but globally. Despite a major global pandemic, this sector has not stopped short but continues to grow at a decent rate. With newer innovations in finance and banking technologies, there has been a significant rise in innovative products and services, paving the way for this sector’s promising future. This has pushed the demand-supply curve upward, creating more job opportunities for those with desired skills. Professionals or students vying for a career in the BFSI sector now have better prospects than ever. If you are a fresh graduate or a finance enthusiast, a job in the BFSI sector is what you need to catapult your career ahead.
Here are the top 5 reasons you will love to work in the BFSI sector.
- Career growth and job security: The entire ecosystem of business, finance, and technology is so dynamic that collectively, they impact the global economy every day. This industry’s fast-paced nature makes it so challenging, keeping every professional on their edge. When you become a part of such an environment, it pushes your boundaries and lets you always keep yourself abreast of the latest developments. This makes you more competitive and helps you grow as a professional. If a challenging job is not enough to intrigue you, there’s also job security that the BFSI sector offers its workforce. With the industry showing steady growth, employees can find a firm ground with banking and finance jobs for the coming years.
- Financial perks: It’s no news that people in the BFSI sector earn more than several other industries. The competitive and high-pressure environment gets compensated with a lucrative remuneration. Depending on the job role, size of the organization, and your skills and qualifications, you can expect a decent starting salary. The higher your qualification and professional skills, the better the salary growth. To sweeten the deal, bigger corporations and financial institutions also offer more benefits beyond the salary. Even if you work long hours, private health care, insurance, travel allowance, and other similar lifestyle perks make for quite an incentive.
- Being future-driven: As we mentioned earlier, the current growth of the BFSI sector shows excellent prospects. One of the primary reasons behind this could be attributed to the technology that has shaped every industry in the last decade. With more innovative products and processes, banks and financial institutions ensure a better customer experience, making them future-ready. This also means that the way banking and finance works is changing, and people who join now will become a part of this future.
- Contributing to the economy: Banks and financial institutions are the significant cogs that drive the economy’s wheels. People who are a part of this sector are directly or indirectly also helping drive those wheels. We all want to make a difference in this world, but not all of our know-how and in what way. Being a part of this major industry is a chance to contribute to the national and global economy, even if it’s most subtly.
- Global networking opportunities: If you want to reach beyond the borders and step into the finance and banking world’s larger horizons, this industry gives you that option. When you work with major institutions, you get a chance to network with professionals, peers, and industry experts from all over the country and internationally too. Depending on your career path, you can also gain experience in foreign companies, international markets and become an international banking professional.
How to get yourself ready for this industry?
Every great career path starts with preparation and a firm foundation. And like most other fields, the best foundation for a promising career in the BFSI sector is to get trained with the right program/course. Join a professional institute and enroll in a program that shapes you into the professional you want to become. Always look for an accredited institute that provides ample exposure to most relevant subjects, real-life learning, and industry exposure. You need a mix of industry experts, experienced and international faculty and innovative training methods to make the best out of the program/course.