India's booming capital markets drive a 69% surge in institutional investor hiring, yet skill gaps and gender disparity persist in senior roles
Chennai: The upbeat capital markets have helped institutional investors increase their headcount by 69 per cent in the past two years.
As India’s market capitalization rose from $1.2 trillion to $5.2 trillion in a decade, the institutional investor sector has witnessed robust hiring.
The sector has seen a 69 per cent increase in headcount in the past two years, reflecting the sector's escalating influence within the Indian financial landscape. In the past year alone, institutional investors saw a 16 per cent rise in employment, with a notable 5 per cent increase in the last six months, as per CIEL HR Services’ latest report.
Some of the firms active in the hiring market include Nippon INDIA Mutual Funds, Birla Sun Life Mutual Fund, Motilal Oswal Asset Management, UTI Mutual Fund, Axis Mutual Fund and DSP Mutual Fund.
Employee retention too is lower in the sector. Approximately 25 per cent of the workforce in the sector has switched jobs in the past year. However, it is lower at 14 per cent at senior levels.
The average tenure of employees at a role is three years, reflecting high mobility and competition for talent. The average tenure of senior talent is seven years.
Gender disparity at senior levels remains a challenge with women’s participation dropping from 27 per cent overall to 14 per cent in senior roles.
Despite the significant demand, the skill gaps continue to persist. India generated 4.686 million jobs in the financial services sector, according to the National Career Services portal. However, only 2.75 million of these positions were filled, leaving approximately 1.8 million vacancies unoccupied.
