IT Freshers Top Salary Charts; Check Here Details Of Sector-Wise Earnings

The report showed a 45 per cent YoY increase in hiring within the Consumer Electronics sector. Advancements in technology, AI developments, and innovations in consumer electronics fueled this growth

Among India’s tier-2 cities, Coimbatore led with a 24 per cent increase in hiring, followed by Jaipur with a 23 per cent rise

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Entry-level professionals in the retail and telecommunications sectors have seen salary increases of 15 per cent and 14 per cent year-on-year (Y0Y), respectively. However, IT-Software & Services still offers the highest salary packages, according to the latest July 2024 hiring trends analysis by foundit (formerly Monster APAC & ME), a talent platform.

Retail freshers earn between Rs 3.3 lakh and Rs 5.2 lakh per annum, while IT freshers enjoy salaries ranging from Rs 4.1 lakh to Rs 7.5 lakh per annum. This shows the high demand and significant value placed on IT skills, even at the entry-level.

Several sectors, including Automotive, BFSI, and Travel & Tourism, have declined salary packages due to market challenges and industry adjustments.

Conversely, experienced professionals with over seven years of experience in the Advertising, Market Research, and PR industries enjoyed a 15 per cent salary increase from 2023 to 2024, reflecting the sector’s efforts to attract top talent. Salaries for these professionals range from Rs 11 lakh to Rs 33 lakh per annum.

The report showed a 45 per cent YoY increase in hiring within the Consumer Electronics sector. Advancements in technology, AI developments, and innovations in consumer electronics like smartphones, TVs, gadgets, and smartwatches fueled this growth. Similarly, the Manufacturing industry experienced a 43 per cent rise in hiring, reflecting the broader impact of this boom.

The Automotive industry also experienced an 18 per cent YoY increase in hiring. The Real Estate, construction, and Engineering sectors saw impressive growth, with hiring up by 32 per cent and 29 per cent, respectively, driven by budget reforms, sustainability initiatives, and green practices. Conversely, the Import/Export sector faced hiring challenges, with a 32 per cent drop in July 2024 compared to the previous year.

The Hospitality sector emerged as a key employment hub, with hiring in Hospitality and Travel roles seeing a 28 per cent surge from July 2023 to July 2024. Marketing and Communications roles also saw a 24 per cent increase, reflecting a greater emphasis on digital presence and audience engagement. Additionally, hiring in the healthcare sector spiked by 22 per cent YoY.

In contrast, some job roles experienced declines, as per the report. Customer service roles saw a sharp 25 per cent decline, likely due to increased automation and AI technologies. Sales and Business Development roles also faced an 8 per cent decrease. The engineering/production, and Finance and Accounting sectors saw smaller declines of 7 per cent and 6 per cent, respectively.

Among India’s tier-2 cities, Coimbatore led with a 24 per cent increase in hiring, followed by Jaipur with a 23 per cent rise. Other cities with strong growth include Delhi-NCR at 18 per cent, Chennai at 14 per cent, and Pune at 12 per cent. 

Chennai and Kochi maintained a stable hiring environment with a 5 per cent increase month-on-month. Bengaluru is also seeing growth, driven by the tech sector’s expansion and urban development. However, Mumbai, Chandigarh, and Baroda each experienced a slight 4 per cent decline in hiring.