The job market for fresh graduates has always been unpredictable, but the latter half of 2024 brings a wave of optimism. The latest ‘Career Outlook Report HY2 (July-December 2024)’ from TeamLease EdTech reveals that 72% of employers in India are planning to hire fresh graduates in the upcoming months. This comprehensive survey, conducted across 603 companies nationwide, highlights a positive hiring trend poised to significantly impact the career prospects of new graduates.
This surge in hiring intent, a 4% increase from the previous half-year and a 7% rise from the same period in 2023, indicates a gradually improving employment landscape. Shantanu Rooj, the founder and CEO of TeamLease EdTech, noted, “The increase in hiring intent for freshers is an encouraging sign. It reflects growing confidence among employers and presents valuable opportunities for fresh talent entering the workforce.”
Among the industries leading this hiring charge, E-commerce and Technology Start-ups, Engineering & Infrastructure, and Retail stand out. Specifically, 61% of employers in E-commerce & Technology Start-ups, 59% in Engineering & Infrastructure, and 54% in Retail are planning to recruit new graduates. This trend is especially significant given the rapid digital transformation and infrastructure development occurring across India. These industries are setting the pace for a robust job market, offering numerous opportunities for fresh talent.
For freshers seeking their first job, certain roles are in particularly high demand. The report identifies Full Stack Developer, SEO Executive, Digital Sales Associate, and UI/UX Designer as the most sought-after positions. These roles provide not only a foot in the door but also a platform for freshers to develop and showcase their skills in dynamic and fast-paced environments. Employers are particularly seeking candidates proficient in Cybersecurity, Cloud Computing, Data Analytics, and Search Engine Optimization. These skills are becoming increasingly crucial as companies navigate the complexities of the digital age. Freshers who invest time in acquiring these competencies will likely find themselves at a significant advantage in the job market.
Geographically, Bangalore leads the pack with 74% of employers intending to hire freshers, followed by Mumbai at 60% and Chennai at 54%. These cities, known for their vibrant job markets and thriving industries, offer a plethora of opportunities for new graduates. The report also emphasizes the growing importance of industry-academia collaboration. A significant 70% of employers suggest enhancing the curriculum with experiential learning, while 62% advocate for stronger industry-academia partnerships. This alignment between academic training and industry needs is crucial for preparing graduates for the real world.
Degree apprenticeships continue to depict stable demand, with Manufacturing leading at 25% of employers planning to hire degree apprentices, followed by Engineering & Infrastructure at 19%, and Construction & Real Estate at 11%. Among cities, Bangalore again shows the highest intent to hire apprentices at 25%, followed by Chennai at 21% and Mumbai at 16%. This trend underscores the value of practical, hands-on learning experiences in bridging the gap between education and industry requirements.
Shantanu Rooj emphasizes the evolving job market, stating, “Aligning educational programs with industry requirements is crucial. The job market is evolving rapidly, with technology and digital skills taking center stage. We’re seeing a clear demand for roles that blend technical expertise with creative problem-solving.” Jaideep Kewalramani, Head of Employability Business and COO at TeamLease EdTech, adds, “The 7% rise compared to the Jul-Dec, 2023 in fresher hiring intent, coupled with growing demand across diverse sectors, signals a robust job market recovery. For graduates, this means focusing on in-demand digital skills and embracing varied learning experiences can significantly boost their career prospects in this evolving landscape.”
The second half of 2024 presents a promising horizon for fresh graduates in India. With a significant percentage of employers eager to hire fresh talent, the job market is ripe with opportunities. Freshers equipped with the right skills and a proactive approach can look forward to a bright and fulfilling career ahead. The demand for technical skills, the importance of industry-academia collaboration, and the regional hiring trends all point towards a dynamic and evolving job market. Freshers who embrace these trends and invest in their skill development will find themselves well-positioned to take advantage of the opportunities that lie ahead.
