The IT sector is seeing an upsurge in job opportunities due to the increasing demand for automation and High Order Thinking Skills. According to the Teamlease Employment Outlook Report for quarter 3 (October- December 2022), 74% of employers are looking to recruit new talent and 69% to fill junior roles. An elevated rate of hiring in multiple sectors has been observed compared to the past two quarters, with the IT and Sales verticals showing the most eagerness at 94% and 87%, respectively. Additionally, the engineering sector is also set to provide specialized and technology-based positions with a hiring intent of 76%.
Demand in job trends
The IT sector is going through a period of change, which has led to an increased demand for roles like cloud administrators, information security analysts, blockchain developers, big data engineers, cyber security specialists, and more. Companies are looking for software engineers with the ability to comprehend consumer behaviour. With the sales vertical on the upswing, there is a need for sales specialists, account development executives, client communication experts, sales data analysts, and performance management experts, with salaries starting at Rs 5-7 lakh, according to Shantanu Rooj, CEO and founder of TeamLease Edtech. While the engineering vertical is progressing at a slower rate, recruitment is still taking place. This includes positions such as biomedical engineers, aeronautical specialists, nuclear engineers, wind/turbine servicing engineers, electrical-electronics engineers, and environmental engineers, with a starting salary of Rs 4-6 lakh per annum, according to Rooj.
Competitive salary structure
Recruiters are offering competitive salaries from Rs 7 to 10 lakhs pa for roles such as consultants, team leads, training, and sales leadership. Akshay Munjal, CEO of Hero Vired, states that technology roles like IT infra, software developers, architects, and backend, frontend and full stack roles offer salaries from Rs 10 to 70 lakhs. Post-pandemic, salary structures in several sectors have risen with candidates asking for salary hikes between 15% to 30%. For an ideal salesperson, the salary hike demand is greater, ranging from 30% to 70%, as per R P Yadav, managing director of Genius Consultants.
Steady campus recruitments
Trends in campus recruitment show that students have been receiving more advantageous job offers, due to the increasing job market. Several Engineering schools reported an increase of 30-40% in salary packages for this year.
G Lakshminarayana, director (Training and Placements) at CMR University in Bangalore, reported that the number of students being hired by top recruiters on campus was 30% higher than the previous two years. He further mentioned that various companies have different salary packages for different roles for recent graduates; some applicants had the benefit of receiving higher pay due to their excellent academic records in specific courses. On the whole, the wages are 30%-40% greater than what was given last year. He explained that this was mostly because the students have been provided with upskilling programmes as part of the curriculum.
Rashmil Mishra, the General Manager of Placement, Corporate Relations and IOP at Indraprastha Institute of Information Technology Delhi (IIIT-Delhi) reveals that the year has seen a successful rate of job placements. He states that the institute’s overall job placement for the current year stands at 98.10%. The BTech students from CSE/CSSS/CSB/CSAM have achieved 100% job placement, ECE students have achieved 98.41% job placement, and CSD students have achieved 93.62% job placement. The average salary package offered for BTech students was 20.86 LPA and for MTech was 17.41 LPA.
