Banks eye batch of ’24 in engg, biz schools

livemint.com:

NEW DELHI : India’s top banks are looking to hire aggressively from the batch of 2024 in engineering, business and graduate colleges to complement hiring from the market, augment digital initiatives and compensate for losses in front-line sales staff. According to bankers and executives at some of the large engineering and management colleges, compensation could range from ₹8 lakh to ₹40 lakh, depending on the roles on offer.

Axis Bank, Bank of Baroda, Standard Chartered Bank, HSBC India and Deutsche Bank India are among those who have approached for roles ranging from sales and marketing, to global banking, said a placement executive at a Bengaluru-based engineering college that has more than 1,000 students to place in the 2024 batch. “Last year, we had hired about 180-200 students from campuses, but this year, the target is higher.

If we hired 10 students from tier 1 B-schools—mostly the Indian Institute of Management—this year, it will double," a banker at one of the lenders mentioned above said on condition of anonymity. The banker said lenders are hiring aggressively because they need to build a talent pipeline that is young and can pick up digital skills faster.

“We do not have enough resources and will expand more into tier two and three colleges to get a wider talent pool," the executive added. “Hiring from top engineering and B-school campuses continues to be an integral part of our hiring strategy," said Shivshanker S.V., India and South Asia head, human resources (HR), Standard Chartered Bank.

He said as part of its graduate programmes, Standard Chartered hires mainly from B-schools for various roles under core banking and also across functions such as risk and conduct, financial crime and compliance. “In