Trade analysts feel that in the next five years, the banking sector will change dramatically. Banks, especially in the public sector, will create more jobs as a bulk of their lower and middle level employees will retire in the next five years. It is expected that the banking sector will create more jobs than the IT industry. Nationalised banks will add 5-7 lakh people in the next five years, which means the sector needs to add about 1.25 lakh people every year. Going by the current trend, the IT sector will struggle to add one lakh employees per annum. In terms of salary too, the banking sector will soon match the IT industry.
Source: The Hindu Business Line