IT Industry is Recruiting Again after Months of Suspensions

The job market in India is improving, with the IT industry leading the way. According to a study released on Wednesday by Naukri JobSpeak, hiring in India increased by 9% sequentially in February, with the IT industry experiencing a 10% increase in new employment compared to the previous month. This expansion is an encouraging indication for the business, which has seen unfavourable trends in recent months due to the worldwide catastrophe and layoffs.

A need for specialised professions in IT Industry

According to the survey, the need for specialised professions like analytics managers, prominent data engineers, Cloud system administrators, and augmented reality QA testers surged by 29%, 25%, 21%, and 20%, respectively. DevOps and DevSec engineer demand climbed by 19% and 18%, respectively. This outperformed growth in demand for data scientists and software engineers by 17% and 11%, respectively. In February over January, the number of new positions in the real estate, hotel, and healthcare industries increased by 13%, 10%, and 10%, respectively.

Also read: Top IT Careers in Demand in India for Engineers

Furthermore, the survey found that industries such as finance, BPO, and retail had similar patterns, with the number of new positions growing by 9%, 7%, and 7%, respectively, over the previous month. "The IT industry, suffering negative trends in the prior three months, saw a sequential gain of 10%. "This rise is a sign of shifting recruiting sentiments in the IT field," said Pawan Goyal, Naukri.com's chief business officer.

Among the significant metros, Chennai, Hyderabad, Bengaluru, and Pune showed a double-digit rise in recruiting activity. The number of new employment in Coimbatore and Chandigarh has grown dramatically among growing cities.

Pay increases have returned to pre-pandemic levels: Mercer

According to a Mercer report, India Inc has recovered to pre-pandemic levels of wage growth across industries. Salaries climbed by 9-9.5% in 2022, compared to 8% on average in 2021. According to the survey, the most significant salary gains in 2023 are projected in the high-tech business, followed by the Software Service Outsourcing industry. Salary increases in technology, healthcare, services, and global capability centres were higher than expected. Owing to tailwinds such as accelerated digitalization, increased demand for healthcare products and services, and the subsequent emergence of medical tourism, India's large talent pool, and relative cost advantages as a result of global geopolitical shifts.