Mumbai sees 41 percent growth in hiring activity

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Mumbai sees 41 percent growth in hiring activity

According to the job portal Naukri.com, Mumbai is one of the most lucrative cities for job seekers when it comes to chasing their dream jobs, and has recorded a 41 percent growth in Q 4 FY 22 compared to Q 4 FY 21 in hiring activity.

In the post-pandemic era, the Maharashtra capital city saw an increase of over 18 per cent in salary hikes, according to a report by Naukri.com. This is significantly higher than the rest of the metros in the country, which had an average salary hike of more than 11 per cent.

With a rebound in overall hiring activity, the financial hub of India sees a jump in job openings to meet the demand for talent, according to Pawan Goyal, Chief Business Officer, Naukri.com. In the last 3 -- 4 months, Mumbai's employment market has shown sustained growth which is now reflected in salary hikes. India's IT hub Bangalore was second in the country with an average salary hike of 15 per cent, followed by the national capital Delhi remained at around 12 per cent in Q 4 FY 22 as opposed to Q 4 FY 20. The employment sector returned to normalcy after the epidemic, according to the report.

Over 60 per cent growth in the hiring activity in Mumbai had been witnessed by the BFSI, education and teaching sector. In Q 4 FY 22 the real estate, pharma and BPO reported 57 per cent, 34 per cent and 22 per cent growth compared to Q 4 FY 21.

Since the pandemic, the IT sector has had maximum hiring momentum, as demand for tech-enabled skills dominated the employment market. Mumbai recorded a maximum number of IT-Software and Software Services jobs in January-March 2022 and saw its IT-software industry's salary hikes grow 33 per cent in Q 4 FY 22 compared to Q 4 FY 21.

Freshers and mid-senior professionals are in great demand at the end of the year due to the positive hiring trend in Mumbai. In Q 4 FY 22 the city saw an increase in the hiring of freshers with up to 1 year of experience and recorded 50 per cent y-o-y growth compared to Q 4 FY 21. Similarly, mid-senior professionals, with 10 -- 15 years of experience, saw a y-o-y growth of 50 per cent in the hiring activity.

Mumbai saw undergraduate talent fill 75 per cent of job listings in the city in Q 4 FY 22 and Q 4 FY 21.

Even though offices in other cities in India are switching back to the work-from- office model, interestingly offices in Mumbai are still offering remote opportunities. In Q 4 of FY 21 the city recorded 11 per cent of job listings as remote opportunities.