Demand for IT Security Professionals Soars in BFSI Sector’s Digital Transformation, India

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Demand for IT Security Professionals Surges in the BFSI Sector’s Digital Transformation

The banking, financial services, and insurance (BFSI) sector in India has witnessed a rapid transformation in recent years, revolutionizing the way institutions provide their services. With the integration of advanced technologies such as AI, Blockchain, and IoT, organizations are reshaping their traditional approaches and experiencing a surge in demand for tech talent with specialized skills.

Instahyre, an AI-driven HRTech platform, recently released a report highlighting the most popular skills in tech roles across different experience levels in the BFSI sector. The report also reveals the average salaries for four distinct levels of tech talent, ranging from freshers to leadership positions.

Data Science and Machine Learning have gained significant traction in today’s digitally-driven era. Python stands out as the most preferred programming language among tech talent involved in data science roles. On the other hand, R (for Data Analytics) and Machine Learning are considered the least popular skills required for these roles, particularly among freshers and mid-level professionals.

In addition to Data Science, organizations are capitalizing on the power of Big Data to gather market intelligence and adopt agile practices. The demand for tech talent proficient in Data Collection skills is witnessing remarkable growth across all experience levels, surpassing Data Extraction and Data Warehousing skills.

As DevOps continues to gain popularity, the report reveals that AWS skills are highly sought after by freshers with 0-1 years of experience due to the higher salaries they can command. However, candidates with over two years of experience prefer to master Jenkins, while CI-CD and Virtualization rank as the least popular DevOps skills.

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The BFSI sector’s digital transformation has also led to an unprecedented demand for IT security professionals. With the exponential rise in sophisticated cyber-attacks, freshers and professionals with over 10 years of experience are more inclined towards acquiring cybersecurity skills. Mid-level executives, on the other hand, show a preference for job roles in security testing functions.

The Instahyre report highlights Endpoint Security and Application Security as slightly less popular skills in the IT security segment across all experience levels.

Sarbojit Mallick, co-founder of Instahyre, explains that there is an evident trend in which new skills are more popular among freshers, as leaders started their careers with legacy skills. This trend affects the availability of candidates as well as the negotiation of salary and benefits packages.

A positive aspect revealed in the report is that the gender diversity scenario in tech roles within the BFSI sector is slightly less skewed towards males compared to the overall Indian tech talent pool. The report identifies CCNA as the skill with the widest gender gap and Quality Assurance as the skill with the narrowest gender gap.

In conclusion, the BFSI sector’s digital transformation is driving a significant demand for IT security professionals and tech talent with specialized skills. As organizations strive to remain competitively proactive, they are focusing on high-demand skills to meet their evolving needs. This transformation is not only reshaping traditional work approaches but also paving the way for increased gender diversity in tech roles within the BFSI sector.

Source: [Instahyre]

Frequently Asked Questions (FAQs) Related to the Above News

What is the BFSI sector?

The BFSI sector refers to the banking, financial services, and insurance industry.

What technologies are driving the digital transformation in the BFSI sector?

Technologies such as AI (Artificial Intelligence), Blockchain, and IoT (Internet of Things) are driving the digital transformation in the BFSI sector.

What are the most popular skills in tech roles within the BFSI sector?

The most popular skills in tech roles within the BFSI sector include Data Science, Machine Learning, Python programming language, and AWS (Amazon Web Services).

Which skills are in high demand for IT security professionals in the BFSI sector?

IT security professionals in the BFSI sector are in high demand for cybersecurity skills, specifically skills related to dealing with sophisticated cyber-attacks.

Are there any gender diversity trends in tech roles within the BFSI sector?

In tech roles within the BFSI sector, there is a slightly less skewed gender ratio compared to the overall Indian tech talent pool. The report highlights CCNA as the skill with the widest gender gap and Quality Assurance as the skill with the narrowest gender gap.

What is the impact of the BFSI sector's digital transformation on job availability and salary negotiations?

The digital transformation in the BFSI sector has resulted in new skills becoming more popular among freshers, leading to potentially limited availability of candidates with these skills. This trend also affects salary and benefits negotiations as demand for specific skills increases.

Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.

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