According to the banking experts, in the next 5-10 years there will be more than 20 lac jobs offered in banks in India, helped by issuance of new license and efforts being made by the RBI and the Government to expand financial services into rural areas. Moreover, the hiring trend in banking may boost even more and will be looking for fresh talents. This is just the gist of Indian baking sector, worldwide there the scenario is more positive.
Besides direct hiring, there will be expansion in banking sector, eventually helping job boost. According to Randstad, public sector banks could account for bulk of hiring and could see 5-7 lac new jobs being created in the coming years.
However, the other side of coin has negative scenario that mentions the job cuts in banks worldwide. Though banks are earning great but these earnings are coming from cost cutting. Banks like J.P Morgan, Citigroup and Bank of America have been cutting jobs. Going by third-quarter numbers, these banks have cut job combining 40,000 plus a year ago. According to the Federal Deposit Insurance Corp., there were about 2.1 million workers at U.S. banks in the third quarter, down 1% from the year before, or a loss of more than 25,000 jobs.