What the First Half of the Year Tells Us: 2025 Tech Hiring in BFSI

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The hiring landscape across technology, data and cyber in BFSI has shifted again. Hiring is more deliberate, more strategic and more company-driven than ever before.

While salaries have largely held steady this first half, the expectations placed on both sides of the hiring equation have intensified. Employers want broader skillsets, proven impact and the right “fit” for the business. Candidates want quicker decisions and a transparent view of what they’re signing up for.

Let’s unpack what’s happening:

Salaries Are Holding… But the Ask Is Rising

Across cloud, cyber, software engineering and project delivery, salaries remain relatively stable – but that doesn’t mean the bar hasn’t been raised.

Roles like:

Azure Platform Engineers: $170k – $200k base

Project Managers (Data & Integration): $170k – $190k base

Cyber Security Engineers (IAM / PAM / Cloud Security): $160k – $190k base

Software Engineering Manager (Java): $210k – $230k base

Data Engineer (Quant): $200k + base

Clients are asking for more: not just someone who can code or configure, but professionals who can lead change, manage risk and translate technical outcomes into business wins, along with the right personality and fit for the business. Showing you’re empathetic, a leader in what you do and your personality in interviews, is more important than ever.

Speed Is the New Differentiator

The biggest complaint from candidates in the first half of 2025? Lagging processes.

We’ve seen top-tier technology talent pull out of processes after 2 – 3 rounds – especially when final interviews drag on with no clear follow-up. One candidate we placed recently had four offers on the table within 10 days. The client who moved fast and was the most transparent got the hire. The others? Ghosted.

This is becoming a theme for candidates applying directly to companies, we’ve heard of multiple cases where these solid candidates have had a couple interviews, then received no update, no communication or anything, ghosted by the company (and these are top tier BFSI firms!).

If you’re keen, move. Waiting a week after a final interview is no longer the norm – it’s a dealbreaker.

EVP: Not Just for Grad Programs Anymore

Once a buzzword for campus brochures, Employee Value Proposition (EVP) is now front and centre for technology professionals in BFSI. They want to know:

  • What’s the mission?
  • What problems are we solving?
  • Who will I work with and learn from?
  • Will I be adding to legacy tech… or helping uplift and retire it?

Companies with a clear purpose, modern stacks and strong leadership are winning top talent – even when they don’t offer the highest salary, because of the clear direction and drive candidates can see from interviewers.

Roles Are Sharpening across BFSI

Hiring has slowed slightly in core infra functions especially BAU support, but has risen in high-impact areas:

  • Cloud platform uplift (Azure, GCP, hybrid multi-cloud)
  • Zero Trust architecture implementations
  • Cloud-native and container security
  • Data Warehousing implementations (SnowFlake)
  • Finance Uplifts (GL, AR, AP etc)
  • Real-time monitoring and observability tools (e.g. Datadog, Prometheus)
  • M&A activity

Cyber roles, especially in IAM, PAM and regulatory-aligned security uplift, are in demand as APRA’s CPS230 deadline looms. Delivery talent with experience implementing these controls will be increasing in H2.

Also companies are wanting the mix of technical and business knowledge for roles in Finance uplifts, being able to extract and implement as well as work with the Finance team to improve and automate processes.

 

Data and Projects: More Governance, Less “Growth at All Costs”

While there’s no shortage of demand in data, the lens has shifted. Clients are now more focused on governance, lineage and architecture than dashboards and ML.

Project Services roles are also tightening. There’s been a pullback on generic PMs and BAs – but demand remains strong for:

  • Project professionals with experience in separation, integration or regulatory uplift
  • Project professionals who are specialised in the industry and not generalists (Trading, Investment Banking, Funds/Investment within Front/Middle/Back office specific roles)
  • Those who can speak both agile and enterprise
  • Hybrid BA/PMs who can own delivery with minimal hand-holding, with technical capability

Michael – Software Engineering

While it might seem that layoffs could create a surplus of talent across the Software Engineering market, we are in the quiet period prior to the new financial year when new projects are on hold, pending budget approvals and strategic planning for the upcoming financial year.

Many companies are doubling down on innovation to recover from economic downturns. This focus often leads to new projects and initiatives that require skilled software engineers across niche areas within financial services who understand the ins and outs of the industry, to innovate and adapt to the current market and emerging trends and technologies.

This overall creates a Demand for Specialized Skills such as AI, machine learning, Automation and cybersecurity. The integration of AI and ML into software engineering is only going to accelerate as there’s a continued interest across Engineers desire to keep up to date with emerging technologies, with a large portion of candidates expressing not only interest in the matter but side project and personal development/learning on the subject.

However, what are the challenges and considerations for Financial Services Organizations to undertake before leaning too heavily towards AI?

  • The regulatory landscape around AI in finance can create uncertainty, as institutions must remain compliant while innovating.
  • Dependence on AI systems can create vulnerabilities; if these systems fail or produce errors, it can disrupt financial operations and lead to significant losses.
  • Poor quality or inaccurate data can lead to flawed AI models, resulting in incorrect predictions and decisions.
  • AI systems can amplify biases present in the training data

 

Amaleen – Project Services

The first half of 2025 has been a challenging but strategically important period for project services within the financial services sector. While budgets remain tight and many large-scale transformation programs have been scaled back or deferred, organisations have continued to invest in targeted initiatives aimed at making their operations more efficient, scalable and resilient. This includes the implementation of core systems, cloud-based data platforms and enterprise data warehouses all designed to streamline processes, reduce long-term cost and prepare for regulatory and AI-led change.

Much of the project activity has been driven by regulatory pressure, particularly around APRA’s CPS 230, alongside ongoing mergers, divestments and business model realignment across banking, superannuation and insurance. These forces have created strong demand for specialist Business Analysts and Project Managers with experience in regulatory compliance, niche systems, vendor management, and data governance.

At the same time, there’s been a clear shift away from hiring generalists, with companies prioritising domain-specific expertise and a proven ability to deliver outcomes in complex, highly regulated environments. While AI is a growing focus, most projects remain in foundational stages, with a heavy emphasis on data quality, lineage and governance. In this environment, professionals who can demonstrate specialisation, adaptability and strong business alignment have remained in high demand.

 

Shannon – Executive Search

The first half of 2025 in the BFSI sector has seen a cautious but strategic demand for senior leadership talent, particularly Program Directors, Heads of PMO and Transformation Leads, on a contract and advisory basis. With major financial institutions focused on cost optimisation, regulatory uplift and tech stack simplification, many have opted for experienced leaders who can hit the ground running to stabilise delivery, reset governance or execute short-term remediation. While permanent hiring at the senior end has been subdued, there’s been consistent interest in outcome-based engagements, especially across banking, investment management, and insurance, where firms are navigating complex change with leaner teams. For senior professionals, short-term contracts and advisory gigs have become a pragmatic bridge in a market where executive roles are still rebalancing post restructuring cycles.

Looking ahead to the second half of 2025, we anticipate a wave of large-scale investment system transformation programs gaining momentum, particularly across investment managers, superannuation funds and custodians. Programs involving platforms like Charles River, BlackRock Aladdin and SimCorp Dimension are expected to move from planning to execution, creating demand for Program Directors and Heads of Transformation with direct experience navigating vendor selection, data migration and integration into complex multi-asset environments. C-suite stakeholders are prioritising these initiatives as critical enablers for front-to-back alignment, improved risk transparency and scalable growth. As a result, leadership hires with proven success in delivering enterprise-wide investment platforms, especially across multi-manager or multi-entity structures, are increasingly viewed as key strategic appointments, even amidst tighter budgets and board-level scrutiny.

Alongside these system rollouts, data is becoming a central pillar of transformation across the BFSI sector. Organisations are moving from fragmented, reactive reporting toward integrated data strategies that support predictive insights, performance analytics and operational efficiency. There’s a strong push to build enterprise-wide data governance frameworks and embed data-as-a-service models that allow front office, risk and compliance functions to operate from a single source of truth. As such, senior leaders with a track record in aligning investment platforms with scalable, cloud-native data architecture will be increasing, not just for delivery, but to steer long-term data maturity and digital investment capability.


Shannon Stobbs – Manager – LinkedIn

Kapital Consulting is a niche Fintech Recruitment Business specialising in Technology, Project Services and Data Recruitment across Australia. For more information connect with us on www.kapitalconsulting.com.au and follow us on www.linkedin.com/company/kapital-consulting