The banking sector and labor market continue to undergo significant transformation driven by economic factors, digitalization, and evolving business models. In 2026, several key trends are shaping the market and influencing the current agenda.
Shift in the balance of power toward employers
The labor market is seeing a sustained shift away from a candidate-driven environment toward an employer-driven market. Companies are taking a more cautious approach to hiring, gradually moving the market from a “candidate-driven” to an “employer-driven” model. This is intensifying competition among job seekers and extending time-to-hire and job search periods.
Growing competition in the labor market
Job seekers are finding it increasingly difficult to secure employment as the number of candidates continues to grow. This is driven by business optimization, as well as bank closures and consolidation. As a result, more professionals are entering the market than there is demand for, putting downward pressure on salary expectations and raising the bar for candidate qualifications.
Banking sector optimization and digital transformation
Banks continue to reduce their branch networks serving retail customers, driven by cost optimization and the accelerated shift toward digital channels. Major players such as Sber and VTB are prioritizing online services and remote customer engagement.
Declining hiring activity
Employer hiring activity is declining despite the growing number of candidates available in the market. This is creating an imbalance between labor supply and demand. Additional market insights can be found in HeadHunter's employment statistics.
Salary increases to retain key talent
Despite the overall slowdown in hiring, banks continue to increase compensation to retain critical talent. In some cases, compensation levels exceed the approved salary bands for specific job grades.
Role broadening and demand for “player-coaches”
The trend toward broader job scopes continues, with individual professionals increasingly expected to combine multiple responsibilities — from client acquisition and business development to ongoing account management. There is particularly strong demand for “player-coach” leaders: managers who not only lead teams but also remain deeply engaged with the market, understand clients, candidates, and competitors, and are capable of taking on hands-on responsibilities themselves.
Strong demand for high-performing sales professionals
Demand remains high for highly motivated and engaged sales professionals. Companies continue to seek individuals who can proactively acquire new clients, drive business development, and consistently deliver strong commercial results.
Deals and product innovation
T-Bank continues to expand its ecosystem and has acquired the Avto.ru platform. The bank has also launched a range of debit cards featuring different scents, including coconut, chocolate, pine, mint, and strawberry. This reflects the broader trend toward creating more emotional customer experiences and differentiating financial products.
Changes in the structure of the banking sector
UniCredit Bank continues the gradual downsizing of its business in Russia, including reducing its regional footprint and headcount. The integration of VTB and Pochta Bank was completed by May 2026. In May 2026, VTB announced a strategic partnership with Wildberries & Russ. As part of the first stage, the bank is acquiring a 5% stake in WB Bank, with the option to increase its ownership at a later stage. The transaction was announced with closing planned by the end of summer 2026.
Transformation of microfinance institutions
Microfinance institutions (MFIs) continue to move toward a more bank-like operating model. Customer due diligence requirements are becoming more stringent, with biometric identification and additional income verification documents being increasingly adopted. This points to the growing maturity of the sector and a stronger regulatory environment.
