It's not just the weather, there are other compelling reasons to look at Bengaluru as India’s preferred job destination. Data from recent reports released by staffing firm Teamlease and talent platform foundit shows among Indian metros, the city fared much better in terms of giving hikes in most sectors, and also the bulk of the job openings for freshers is Bengaluru.
TeamLeases’s flagship ‘Jobs and Salary Primer Report’ for FY 2022-2023 showed the salary growth rates have decreased from 10% last fiscal to 9% this year, certain sectors like telecommunication, media and entertainment, information technology and knowledge services have seen better salary growth of over 9%.
Among these higher-paying industries, maximum hikes were seen for those jobs in Bengaluru. For instance, the telecom industry -- 10.19%, and information technology and knowledge services -- 9.21%.
In spite of the average salaries in the telecom industry seeing a dip, the role of relationship manager in the telecom sector in Bengaluru saw a 10.19% hike, closely followed by the game developer role in media and entertainment, 9.30%.
“Due to socio-economic factors like global layoffs and funding winter, median salary growth has been slightly lower than last year, yet as the Indian job market continues to evolve, we are seeing an influx of new job roles that have gained momentum from a salary perspective,” said Kartik Narayan, chief executive officer - staffing, TeamLease Services.
The latest report by foundit on fresher hiring trends shows demand for freshers has seen a 4% increase in the last six months, with Bengaluru emerging as the top destination offering the highest salary packages in the segment. As per the data, Benagluru’s share of fresher job postings stood at 12.4%, followed by Mumbai at 12.1%, followed by Delhi/NCR at 9%, Pune at 8%, and Chennai and Hyderabad at 7% each.
Among sectors, while the staffing/recruitment industry saw the highest demand for freshers -- software services, ITES, education, as well as healthcare, were the other industry actively recruiting freshers. However, the biggest concern still remains industry-ready skilled workforce .
“Improved initiatives for skill development in the educational system can close the employability gap in the Indian market. The L&D initiatives of India Inc. have also been crucial in bridging the skill gap among freshers “ said Sekhar Garisa, CEO, foundit (previously Monster APAC & ME).
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