In India, there is an increase of 6% in HY1 of 2024 vs HY1 of 2023 (68% vs 62%) in freshers hiring. Additionally, the overall hiring intent for all categories of job seekers has risen marginally to 79.3%. Such sustained growth implies a positive job market in the coming months for freshers, as per latest Career Outlook Report HY1 (January – June 2024) by the TeamLease EdTech. 

The top three industries with the highest hiring intent for freshers are E-commerce and Technology Start-ups (55%), Engineering and Infrastructure (53%) and Telecommunications (50%). The IT industry sees an overall decrease in the intent to hire freshers compared to COR HY2 2023 (42% in HY1 2024 vs 49% in HY2 2023). Also, sectors like Media and Entertainment have seen a decrease of 3%, while travel and hospitality with a 4% increase (HY1 2024 vs HY2 2023).

Roles such as Graphic Designer, Legal Associate, Chemical Engineer and Digital Marketing Executive are in high demand across industries for freshers. Among cities, Bangalore leads the way with a hiring intent of 69%, followed by Mumbai at 58% and Chennai at 51%. Delhi is at 45%, an increase of 2% from HY2 2023. However, the demand for newer talent currently stands at 68%, a marginal increase of 3% for the current HY1 (Jan-Jun 2024) over HY2 (Jul-Dec 2023). 

“Employers played the conservative card for sometime now; hiring had slowed down amidst global turmoil. However, our recent survey reveals employer confidence in India’s growth story. Organisations are more confident about their future paths, which reflects in their high confidence to recruit fresh talent and strengthen their talent pool,” Shantanu Rooj, founder and CEO, TeamLease EdTech, said.

The report also deep-dives into the impact of GenAI on freshers’ job landscape. It highlights that rather than being replaced outright; jobs are evolving through human-AI collaboration. Crucially, continuous learning and adaptability will be vital as freshers enter an era of continuous technological advancement powered by Generative AI. Roles such as Software Developers, Technical Writers, Legal Assistants, Market Research Analysts, and Graphic Designers are expected to be transformed. Freshers need to proactively upgrade their skills and be open to working alongside Generative AI to remain relevant and harness its potential. The survey covers 526 small, medium, and large companies across 18 industries across India. The coverage is spread across 14 geographical areas [metros, tier-1, & tier-2], reflecting the hiring sentiment.

“It’s interesting to see industries like Manufacturing, Engineering & Infrastructure, and Construction & Real Estate prioritizing apprenticeships to locate the most suitable talents. By proactively hiring degree apprentices, companies can systematically address persistent skill gaps, nurture specialized talent, and strengthen their talent pipelines tailored to precise industry requirements. This bodes well for apprentices as they can ‘learn and earn’ simultaneously, gaining academic knowledge and practical work experience, making them highly employable,” Neeti Sharma, co-founder and president, TeamLease EdTech, said.