Fresher hiring up by 5% in last 6 months, says Foundit report
Jun 14, 2024, 10:57 IST
The demand for freshers has gone up 5% over the past six months, aided by gradual improvement in the IT sector, according to a report released on Thursday. The highest share of job postings for freshers was witnessed by the IT and staffing industry with over 32% and 12% share of jobs, respectively, dedicated to entry-level professionals, Foundit (formerly Monster APAC & ME) report on fresher hiring trends noted.
Additionally, it revealed that the demand for freshers has increased by 5% over the last six months. The report is based on an analysis of data on the Foundit platform from May 2023 to May 2024.
It further stated that IT companies -- particularly in the hardware and software sectors -- are showing intent to hire freshers, signalling a shift in hiring strategies in India. This trend is largely driven by ongoing restructuring efforts within the industry, focusing on adopting new technologies, optimising costs, enhancing innovation, and ensuring scalability, the report added.
Startups in the IT services and internet industry led in fresher hiring, with 23% and 22% of jobs directed to new graduates, respectively, it stated. While jobs in the IT industry did decline in the last quarter, engineering graduates are in demand for 28 per cent of jobs in startups alone, the report said.
Additionally, other roles being hired across startups are consultants (10%), sales/exec manager (4%), and operations exec/manager (4%), it added.
"We're seeing a clear trend where startups and other companies are increasingly valuing skills over just academic credentials. This shift means that young professionals need to focus on acquiring relevant skills to stand out in the competitive job market," Foundit (previously Monster APAC & ME) CEO Sekhar Garisa said.
The report added that Delhi-NCR (21%) hosts the highest share of job postings for freshers, followed by Bengaluru (14%). Notably, fresher hiring was the highest in metropolitan cities in India, Mumbai (8%), Chennai (8%), Pune (8%), and Hyderabad (8%) were recorded as the next top locations for hiring freshers, it added.
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Additionally, it revealed that the demand for freshers has increased by 5% over the last six months. The report is based on an analysis of data on the Foundit platform from May 2023 to May 2024.
It further stated that IT companies -- particularly in the hardware and software sectors -- are showing intent to hire freshers, signalling a shift in hiring strategies in India. This trend is largely driven by ongoing restructuring efforts within the industry, focusing on adopting new technologies, optimising costs, enhancing innovation, and ensuring scalability, the report added.
Startups in the IT services and internet industry led in fresher hiring, with 23% and 22% of jobs directed to new graduates, respectively, it stated. While jobs in the IT industry did decline in the last quarter, engineering graduates are in demand for 28 per cent of jobs in startups alone, the report said.
Additionally, other roles being hired across startups are consultants (10%), sales/exec manager (4%), and operations exec/manager (4%), it added.
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The report added that Delhi-NCR (21%) hosts the highest share of job postings for freshers, followed by Bengaluru (14%). Notably, fresher hiring was the highest in metropolitan cities in India, Mumbai (8%), Chennai (8%), Pune (8%), and Hyderabad (8%) were recorded as the next top locations for hiring freshers, it added.