BFSI sector is growing tremendously in India and the scope of banking has widened drastically. The job roles are not just restricted to lending and depositing money, there has been a development of adequate professional management and modern practices in banking. Due to many more reasons, the BFSI sector allures the young graduates of our nation the most. BFSI is the sector that offers a wide variety of opportunities as well as the possibility of rapid career progression, good pay, and other benefits. Here are few points which say why BFSI is the best sector to work in.
It offers a fast-paced and challenging career- Globally, there is some or other advancement in business, finance, and economics every day. This development is fast-paced making every employee work on their toes. The deals and buzz on the trading floor result in a highly stimulating career.
Personal development opportunities- Working in reputed banks such as Morgan Stanley, JP Morgan, and Deutsche Bank gives you an opportunity to benefit from structured training and development opportunities that have been tried and tested throughout banking history. Also, depending on your job role, you will be able to obtain a professional qualification as you advance in your career.
Salary and other benefits-The average salary for a graduate working in a BFSI sector are around 4-5 lakhs per annum. Established banks often give you other benefits including private health care, insurance, subsidized travel, and food. They also provide substantial and lucrative bonuses to their employees. On the one hand, a bonus is a political hot potato, but they are ultimately a major draw for many candidates and a major reason for employees working post office hours.
International travel and working abroad- Working abroad is a career wishlist for many graduates and hence, BFSI is a popular career choice amongst youths. In the BFSI sector, you can see people working in the financial center of another continent from Tokyo, Singapore, New York to London.
Long term career benefits- Having a well-reputed financial institution on your CV is looked up favorably by employers. If you have managed to go through a tough application process and have worked in an established company for years, then future employers will want you in their company. Even if you feel like switching to a different industry, or set up a business of your own, your experience will be worth using.
