Kochi, Coimbatore, Jaipur lead hiring trends
The Indian Job market is thriving, up 11% year-on-year, with cities like Kochi and Coimbatore at the forefront, with strong hiring in these cities' Production & Manufacturing, IT, and Telecom sectors.
Hiring Thrives in India’s Smaller Cities
India’s job market is doing well, especially in smaller cities. A recent report by “foundit” shows an 11% increase in online hiring from May 2023 to May 2024, indicating a positive change in India’s job scene.
The rise of cities like Kochi, Coimbatore, and Jaipur as major hiring centers is surpassing big cities like Kolkata and Delhi/NCR due to some key reasons. These cities are becoming attractive for businesses because of better infrastructure, government support like the PLI scheme, a skilled workforce, and a better lifestyle with lower costs.
In these tier-2 cities, the production and manufacturing sector is booming with a 47% yearly growth, thanks to government support and infrastructure projects, while metro cities only saw a 5% growth in this sector.
Other sectors like IT, software, and services are hiring more in tier-2 cities (17% increase compared to 3% in metros), and real estate and education sectors are also growing by 8% in tier-2 cities. The telecom/ISP sector is also seeing significant growth due to investments in technologies like IoT, cloud computing, and 5G. This shift highlights the emerging opportunities and growth in tier-2 cities across various industries.
Not all sectors are doing equally well. For example, the education sector grew in tier-2 cities but declined in metros. On the other hand, travel and tourism declined in tier-2 areas but saw a revival in metropolitan regions. The job market in India is changing rapidly, especially in tier-2 cities. There is a growing demand for digital and social media marketing professionals, like graphic designers and animators. On the flip side, customer service roles are decreasing due to the use of AI chatbots.
Hiring for mid-senior and senior-level professionals is increasing, indicating a need for experienced talent. Regarding salaries, in metro cities, the average minimum salary ranges from Rs 4.83 LPA to Rs 6.63 LPA, while the maximum salary ranges from Rs 8.09 LPA to Rs 15.98 LPA. In tier-2 cities, the average minimum salary ranges from Rs 4.01 LPA to Rs 5.43 LPA, and the maximum salary ranges from Rs 7.12 LPA to Rs 11.01 LPA.
Contractual employment is on the rise post-pandemic, especially in the tech sector, and is expanding to other areas like consumer durables, e-commerce, and retail.
These roles offer flexibility to both employees and companies. India’s job market is evolving, with tier-2 cities leading the way in hiring growth. Sectors such as production, IT, and telecom are thriving, and competitive salaries are seen in both metro and tier-2 cities. As companies adapt to market changes, the demand for skilled professionals, particularly in digital and tech fields, is expected to increase.
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