7 minsWhy are there so many graduates who, despite holding a degree, fail to secure a job in the banking sector? The reason is plain – skills in banking.
The Banking, Financial Services and Insurance (BFSI) sector is one of the most rapidly developing industries in India, opening up thousands of job opportunities annually. However, the industry is still plagued by a huge skill gap.
Employers are looking for graduates who can contribute from day one, but graduates come with little practical experience in customer management and digital capability. These are, however, vital skills in the modern world of banking. Thus, such a disparity between academics and real-life skills compels organisations to invest a lot of money in training, leading to increased costs and delayed productivity.
As the BFSI sector advances into the digital world, with financial inclusion and fintech-led innovations, the need for competent, job-ready professionals will grow further. Filling this skill gap becomes a non-negotiable necessity for the employer; it also becomes a prospect for students to enter fulfilling careers.
Why Should One Pursue a BFSI Career?
The BFSI industry promises long-term career advancement with stability, expansion and a wide variety of career opportunities. From insurance and retail banking to fintech and digital banking — the BFSI sector offers employment options for various career aspirations.
As India advances into digital banking and expands its financial services into new markets, the sector will further require expert professionals, according to industry reports. For students, this translates into a plethora of opportunities in frontline sales, branch operations, compliance and evolving spaces such as risk management and wealth.
With proper training and industry exposure, BFSI can not only offer job security but also a rewarding career graph.
Understanding the Skill Gap within the Financial Services Sector
The BFSI sector is growing at a fast pace, but is experiencing a serious talent deficit. The majority of graduates lack the practical know-how, digital competency and customer skills that are essential to thrive in the sector. Regular education tends to ignore actual banking situations and doesn’t deal with emerging disciplines such as fintech, risk management and compliance.
This means additional onboarding and training expenses for employers and time lost in productivity. The answer is obvious – students require special skills for a bank job – something more than academic qualifications and theoretical knowledge.
That’s where UNext Manipal Academy of BFSI (MABFSI) comes in — filling the gap between education and employability with specialised, job-assured and future-ready courses.
What Students Need to Excel in BFSI Careers
Academic knowledge alone is not enough for success in BFSI; professional knowledge in banking is equally important, if not more. Students require strong foundations in banking operations, compliance and digital skills.
They need hands-on exposure through case studies, simulations and problem-solving exercises. Equally important are communication and customer management skills to build lasting relationships. Awareness of new-age areas such as digital banking, fintech and wealth management is essential to remain relevant and competitive in the job market.
Finally, certifications and specialised training recognised within the industry provide students with an added advantage. This requires structured programs, mentoring from experienced experts and robust industry connections. These are exactly where MABFSI stands out in moulding students for BFSI-related career paths.
How UNext Manipal Academy of BFSI Helps Students
For more than 17 years, UNext Manipal Academy of BFSI has been India’s premier training institution for workforce development, where more than 2,00,000 learners have been trained. Currently, 1 out of every 5 bankers in India is a MABFSI alumnus, validating its unparalleled contribution to the BFSI industry.
Listed below are the ways in which the academy trains students for success –
1. Industry-Specific Programs
MABFSI partners with top banks and financial institutions to co-create courses based on the changing and evolving industry requirements. Some professional programs are certified by the prestigious Manipal Academy of Higher Education (MAHE), an institute of eminence, to ensure authenticity and acceptability.
2. Immersive, Hands-on Learning
Learning takes place through real-world simulations and case studies. Such experiential learning provides practical exposure, filling the gap between theoretical learning in classrooms and the real-world environment.
MABFSI offers a 4+2+6 program which entails –
- 4 months of classroom training
- 2 months of internship
- 6 months of on-the-job training
Through such a model, learners gain hands-on banking experience, develop sales and client management skills, and receive a job offer before the fee payment. Consequently, a clear pathway to employment is generated for learners, making them job-ready.
3. Job-Assured Training
MABFSI’s innovative job-assured model equips students with offer letters even prior to fee payment, giving them confidence and faith. Programs follow a “earn while you learn” model that is co-created directly with banks, providing students with industry exposure early on.
4. New-Gen Career Focus
The academy trains students in core banking roles such as sales, Relationship Management, and Probationary Officer positions, along with entry-level branch operations. This equips the graduates with practical skills that make them employable in the changing industry and gain relevant corporate banking skills.
5. Experienced Faculty with Industry Background
UNext Manipal Academy of BFSI (MABFSI) programs are designed and delivered by seasoned banking professionals. They ensure that learners receive authentic, experience-driven learning directly from people who have walked the path themselves.
With 220+ faculty from the BFSI sector, these industry professionals introduce real-world perspectives into the classroom. Faculty persons include people from job roles such as:
- Senior Bankers
- Branch Managers/Branch Heads
- General Managers
- Vice Presidents
6. Industry Connect
MABFSI boasts of connections with 50+ leading banks, insurance companies as well as non-banking financial organisations, which provide learners access to jobs in prominent companies such as Axis Bank, HDFC Bank and Tata AIG. This guarantees great job prospects.
7. Skill Development for Specific Purposes
The academy also creates tailored skilling modules for corporations, such that freshers as well as professionals remain in sync with the industry needs. For instance, MABFSI has partnered with HDFC Bank to introduce the HDFC Bank Future Bankers 2.0 Program, which is a 12-month program crafted specifically to groom young graduates for banking careers.
Programs Made for Success
- Post Graduate Diplomas (PGD) – MAHE certified, developed in partnership with BFSI partners. For e.g., the Axis Bank Young Bankers (ABYB) Program.
- Certification Programs – For freshers and professionals looking to shift to BFSI. For e.g., the Tata AIG Young Achievers Program.
- Customised Skilling Modules – For organisations upskilling employees.
Thought Leadership & Industry Impact
MABFSI has set itself apart as a thought leader by –
- Launching women-exclusive banking cohorts with Axis Bank & Mahindra Finance
- Publishing insights on BFSI skilling trends and the future of Banking 4.0.
- Collaborating with banks to bridge the gap between academics and employability in India’s financial sector.
MABFSI can proudly boast of the following –
- 17+ years of BFSI workforce development.
- 2,00,000+ learners trained since 2008.
- 1 in 5 bankers in India is an MABFSI alumnus.
- 50+ BFSI client partnerships.
- 220+ expert faculty members.
The Bottom Line
The BFSI industry provides ample opportunities to learners wanting to begin in banking. Yet, only a few with the appropriate bank job skills can really succeed.
This is where UNext Manipal Academy of BFSI has established itself as the connection between aspiration and success. By providing industry-specific, job-assured and future-oriented programs, MABFSI equips learners with all that they require to achieve success in the sector.
If you want to create a secure and fulfilling career in BFSI, the process starts with proper and professional training, directly with the recruiters, which is what Manipal provides.
Opt for MABFSI — and walk into the future of banking.
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