India: The white-collar job market is poised for a significant upswing. With 96% of employers expressing confidence in increased hiring, this year promises to be a transformative period for professionals across various sectors. Let's dive into the key trends and sectors driving this growth.
TBC's Insider:
Strong Hiring Outlook: The optimism among employers is backed by substantial salary hikes and a renewed focus on both new job creation and replacement hiring. Over half of employers plan to offer double-digit salary hikes, while 39% expect increments in the 5-10% range.
Demand for Mid-Level Professionals: Professionals with 3-8 years of experience are expected to be the most sought-after talent pool, accounting for 58% of hiring activity. This demand reflects companies' need for employees who bring both fresh perspectives and hands-on expertise.
Campus Hiring on the Rise: Fresh graduates have reason to be optimistic, with 34% of employers confirming that campus hiring will continue as planned, up from 30% last year.
MARKET BOOM ANALYSIS:
FMCG, Insurance, and Pharma: These sectors have been leading the hiring growth, with FMCG seeing a 16% increase, Insurance 15%, and Pharma 11%. This growth has helped offset slower hiring in IT.
Aviation and Aerospace: This sector recorded one of the highest surges, with a 33% year-on-year growth, led by Delhi NCR with a staggering 77% increase.
Travel and Retail: The travel and tourism sector saw a 17% increase in hiring, while retail rose by 14% month-on-month and 24% year-on-year
Emerging Job Hubs:
Pune: These cities have emerged as new tech hubs, with Jaipur leading the way with a 38% surge in technology jobs.
Bengaluru and Hyderabad: These cities remain key hiring hotspots, with Bengaluru experiencing 42% year-on-year growth.
