India’s leading talent platform, published the foundit Insights Tracker (fit), presenting the latest findings on hiring trends for May 2024. According to the tracker, the overall hiring index shifted from 265 in May 2023 to 295 in May 2024. Compared to the previous year, there was an (11%) increase in hiring, indicating a substantial recovery in employment opportunities. The tracker indicated that hiring in tier-2 cities has shown consistent growth trends compared to the metropolitan areas, with cities such as Kochi, Coimbatore, and Jaipur emerging as key hiring locations.
Tier-2 talent hotspots: Kochi, Coimbatore, and Jaipur lead in annual hiring surge
With cities such as Kochi, Coimbatore, and Jaipur dedicating resources to infrastructure development initiatives, and enhancing connectivity, transportation, and other amenities, corporate firms are bound to be attracted here for their business expansions. These enhancements provide superior logistics, market accessibility, and an improved quality of life for employees, which makes tier-2 cities a key hiring location for recruiters.
According to the tracker, tier-2 cities are seeing stronger growth rates in sectors like Production and Manufacturing (29%), IT- Software & Services (17%), Real Estate (8%), and Education (8%), where recruiters are seeking diverse talent with specialised skill sets. Metro cities have shown an affinity for hiring from IT-Software & Services and Advertising, MR, PR industries, due to the uptick in the demand for IT service providers and digitalisation, signalling a recovery from the layoffs and reduced bench strength.
Tier-2 Vs. Metros (Annual Hiring Trends)
Top hiring Industries
Tier-2 CitiesYoY %
Metro CitiesYoY %
Production and Manufacturing
29%
5%
Real Estate
8%
1%
Engineering/ Construction
5%
4%
Education
8%
-4%
IT- Software & Services
17%
3%
Advertising, MR, PR
-4%
3%
Travel/ Tourism
-2%
10%
As far as the salary trends for metros and tier-2 cities are concerned, the average minimum salary in a metro city ranges from INR 4.83 LPA to INR 6.63 LPA, while the average maximum salary ranges between INR 8.09 LPA to INR 15.98 LPA. Meanwhile, the average minimum salary in a tier-2 city ranges from INR 4.01 LPA to INR 5.43 LPA and the average maximum salary ranges from INR 7.12 LPA . to INR 11.01 LPA.
Location
Avg-Min-Salary (LPA)
Avg-Max-Salary (LPA)
Mumbai
621,987
1,598,100
Bangalore
663,050
1,521,652
Delhi-NCR
557,694
1,307,303
Hyderabad
656,624
1,182,459
Chennai
616,702
1,103,050
Pune
543,214
1,101,484
Kolkata
494,173
982,828
Coimbatore
412,453
820,275
Ahmedabad
483,251
809,077
Kochi
406,221
716,938
Jaipur
401,008
788,972
Chandigarh
426,487
713,863
Vadodara
413,050
712,555
India’s Production, Manufacturing, and Telecom Sector Sees Hiring Revival Production and Manufacturing sector witnessed a remarkable (47%) YoY surge in hiring, fueled by various factors, including the growth of the large modern manufacturing in India, aided by government push in PLI, infrastructure development, and policy intervention on imports/exports. The increased demand is evident not only within the sector but also in related industries such as Home appliances and Electrical components, which witnessed a 35% growth in hiring.
Digitalisation and social media popularity uplift Arts/Creative job roles; while Customer Service job roles face headwinds:
With the growing popularity of digital and social media marketing, there has been a month-on-month surge in demand for Arts/Creative professionals (4%), particularly for positions such as Graphic Designers and Animators. Organisations today are seeking to increase website traffic and convert online leads with the help of skilled and knowledgable Marketing and Communication specialists, who have also recorded a (16%) YoY increase in hiring. The job roles showing a downward trend in hiring include Customer Service (-25%), due to the adoption of AI-based chatbots and virtual assistants.
Hiring of senior and mid-senior level professionals witnesses a growth :
According to the tracker, demand for mid-senior level professionals with 7 to 10 years of experience grew by 9% year-on-year. Senior-level professionals with more than 15 years of experience saw a 17% year-on-year increase in hiring. Additionally, hiring for Associate roles with 4-6 years of experience grew by 2% over the last month as well as annually.
