The number of BFSI Jobs in all three sectors Banking, Finance and Insurance have shown a rapid growth since last decade. The BFSI Sector is booming with opportunities, especially for freshers. There are numerous opportunities for freshers as well as working professionals.Â
If you are a fresh graduate and want to make a career in the BFSI sector, then check the list of BFSI Jobs you can apply for this month.Â
Why Is Bfsi A Promising Career Option In 2024?
The BFSI Sector comprises the banking, financial Services, and Insurance Sectors which create thousands of entry level jobs especially for freshers hence creating numerous job opportunities for fresh graduates.Â
There has been a surge of demand for digital experts in all three sectors which has increased BFSI hiring by a significant amount these past few years. It is anticipated that there will be a 28% growth in BFSI hiring for younger talents and professionals.Â
The Fintech sectors are growing due to a rapid expansion in internet-based practices. Our government is also promoting digital India while focusing on young talents and tech professionals.
7 BFSI Jobs for Freshers in October
The BFSI Sector provides many job opportunities for freshers. Let us check some of the entry level positions to look out for in October this year.Â
1. Financial Analyst
Financial Analysts are responsible for helping banks and financial organisations make informative decisions. They analyze financial and economic trends. They take into account financial statements, and risk assessments, and apply financial modeling techniques to provide insights for informed decision making.
Also, Check What is Financial Data Analysis?
Qualifications
- Bachelor’s degree from a reputed institution in banking or related field.
- Understanding of banking and financial services, principles and practices
Roles and Responsibilities
- They help organisations make informative decisions after analysing various financial metrics.
- They analyse financial statements and financial reports
- Conduct risk assessments and risk management
- Create future forecast models and uncover financial trends, patterns, etc.
- Recommend effective investment strategies and cost effective measuresÂ
2. Tax ConsultantÂ
A tax consultant is a professional who has expertise in the tax system and can deliver financial related counseling. They advise clients on best practices for income tax returns, reduce tax liability, and more.
Qualifications
- Bachelor’s degree in accounting, finance, business or related field.
- Advanced degrees such as Master of Taxation, Master of Business Administration (MBA), etc. are preferred
- Professional certifications such as Certified Public Accountant (CPA), Chartered Accountant (CA), Certified Tax Consultant (CTC)
- Experience with financial analysis tools, and knowledge of tax laws, and amendments
- 0-5 years of experience in tax auditing, advisory, or compliance.
Roles and Responsibilities
- Tax Compliance
- Tax planning and advisory
- Auditing
- Manage and resolve tax disputes
- Analyse financial reports and prepare tax reports
- Client relationship management
3. Business CorrespondentÂ
A Business Correspondent is a professional who provides financial services to clients on behalf of a financial institution. They promote the financial services provided by the institution, especially in rural or remote areas.Â
Qualifications
- Bachelor’s degrees in Economics, journalism, communication, business, etc. Masters degrees in related fields are also preferred
- 1-5 years of experience working in a related field
- Strong understanding and knowledge of financial markets, business trends, Financial reporting, and economic condition of the country.
- Experience using content management systems, social media platforms, etc
- Excellent research analytical skills
Roles and Responsibilities
- Providing updates and conducting in-depth analysis on financial news, stock markets, economic trends, global events, etc.
- Interview leaders, investors, or policymakers in the same field to gather related information
- Writing and publishing engaging articles, reports, and scripts for business
- Analyse trends in stock markets, commodities, etc with the help of derived insights
4. Insurance AgentÂ
An insurance agent is a professional who sells policies, provides customer services, and acts as a salesperson for health, life, and property insurance as per the needs of clients.Â
Qualifications
- A high school diploma or equivalent degree is the minimum qualification.
- Specialized courses in insurance, finance or risk management can be beneficialÂ
- Licensing might be required for providing insurance advice to clients.
- 0-3 years of working experience in sales, finance, or customer service
- Experience working with insurance management and financial analysis tools
Roles and Responsibilities
- Strong Sales and Communication skills
- In-depth knowledge of insurance policies, terms and regulations
- Excellent customer relationship management skills
- Problem solving ability
- Familiar with CRM software, MS Office, and other insurance related tools
5. Microfinance ExecutiveÂ
These professionals are responsible for identifying potential areas of developing businesses, building awareness, and finding quality leads for the financial institution. They provide various financial services based on loans, savings, insurance, etc.
Qualifications
- Bachelor’s degree in Finance, Economics, or related fields
- Knowledge of financial services, banking, and community developmentÂ
- 1-5 years of experience working in the banking, finance or microfinance sector
- Understanding of microfinance operations such as credit analysis, risk management, lending, etc.Â
Roles and Responsibilities
- Oversee and manage the disbursement of small loans to individuals or groups.
- Monitor the performance of loan portfolios, and ensure timely repaymentsÂ
- Build strong relationships with potential clients, especially low-income individuals, entrepreneurs, and small business owners.
- Evaluate the creditworthiness of applicantsÂ
- Financial education and support
- Risk management and credit monitoring
- Team management and leadership
6. Accounts Executive/ AssistantÂ
These professionals manage accounts, and financial records, and ensure that account statements follow the standards and regulations. They maintain and build strong client relationships.Â
Qualifications
- Bachelor’s degree in accounting, business administration, communications, or related fields.Â
- 0-5 years of experience in sales, customer service, marketing, etc
- Experience in managing clients, sales, and working with cross-functional teams
- Strong sales and communication skills
- Familiar with CRM software
Roles and Responsibilities
- Identify the target and acquire quality leads through networking, cold emails, and attending events
- Sale pitches based on industries and present products or services to the potential clients
- Account management and client retentionÂ
- Sales growth and revenue generation
- Client relationship building
7. Sales associatesÂ
Sales associates are professionals who focus on building strong client satisfaction in the organisation. They greet customers and tell them about the products and services available. They address queries, settle disputes, and handle transactions.
Qualifications
- Minimum qualification to start as a Sales associate is high school diploma or equivalent degree
- Bachelor’s degree in accounting, finance, business or related field.
- 0-2 years of experience working in customer service, retail, or sales.
- Strong communication, negotiation, and interpersonal skills to ensure customer satisfaction
- Familiar with effective sales practice and can work under pressure.
Roles and Responsibilities
- Greet and engage customers providing them with assistance with finding products and services
- Promote and recommend products based on the customer needs and preferences
- Stay informed about the latest products, promotions or policies
- Provide information on sales discounts, offers or other programs.
- Handle sales transactions, cash, credit/debit payments, etc
- Customer relationship managementÂ
- Handle disputes, escalate unsolved issues, etc
Recommended Course
BFSI Jobs SalariesÂ
The demand for skilled professionals in various entry-level roles in the bfsi industries is significantly increasing. BFSI hiring has scaled in the last few years. Let us check the expected pay scale for various roles in the bfsi sector.
| BFSI Jobs Role | Salary Range |
| Financial Analyst | ₹3,00,000 – ₹12,00,000 |
| Tax Consultant | ₹2,50,000 – ₹10,00,000 |
| Business Correspondent | ₹2,00,000 – ₹8,00,000 |
| Insurance Agent | ₹1,80,000 – ₹9,00,000 |
| Microfinance Executive | ₹2,50,000 – ₹8,00,000 |
| Account Executive | ₹1,50,000 – ₹5,00,000 |
| Sales Associate | ₹2,00,000 – ₹6,00,000 |
How to keep yourself prepared for a role in the BFSI Sector?
Are you applying for a role in three major sectors of the market i,e. Banking, insurance, and financial services? Then let us help you with your preparation. Join our BFSI Course and get in-depth learning of principles and working of banking, insurance, and financial sectors in India.Â
Learn from the industry-experienced mentors and prepare yourself for the job. Ace your preparation with PW Skills and get many perks after enrolling in this course.
- 3 Months Job Assistance Program
- Live Classes based on industry-ready curriculum
- Experienced mentors from the bfsi industry
- Soft skills trainingÂ
- Interview Preparation
- Certification
Disclaimer: PW Skills is not responsible for any job placements or any outcomes or any other employment opportunities.
FAQs
Q1. Which BFSI jobs are the best for freshers?
Ans: There are many entry level roles available in the bfsi sector, some of the best ones are mentioned below for you.
Sales associate
Financial analyst
Microfinance executive
Accounts Executive
Insurance agent
Tax consultant
Q2. What is the BFSI Salary?
Ans: The BFSI Salary depends on the roles offered to the candidates. However, the average salary for entry level bfsi jobs is in the range of 3 to 7 lakhs per annum. However, this range depends on various factors such as location, budget, and experience of the candidate.
Q3. What is the minimum qualification for bfsi jobs in India?
Ans: The minimum qualification is a high school diploma or bachelor’s degree in finance, banking, communication, or related fields. However, the qualification criteria are based on the roles offered to the candidate.
Q4. Is BFSI a sector or industry?
Ans: The BFSI (Banking, Financial Services, and Insurance) industries provide financial products and services to clients. This comprises various financial services, stock exchanges, mutual funds, insurance companies, etc.
