{"id":1278428,"date":"2024-02-01T11:07:09","date_gmt":"2024-02-01T05:37:09","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1278428"},"modified":"2024-02-01T11:11:00","modified_gmt":"2024-02-01T05:41:00","slug":"90-it-graduates-in-2024-can-be-jobless-as-it-recruitment-at-20-year-low-out-of-15-lakh-it-freshers-only-1-5-lakh-can-get-a-job","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/90-it-graduates-in-2024-can-be-jobless-as-it-recruitment-at-20-year-low-out-of-15-lakh-it-freshers-only-1-5-lakh-can-get-a-job\/","title":{"rendered":"90% IT Graduates In 2024 Can Be Jobless As IT Recruitment At 20-Year Low; Out Of 15 Lakh IT Freshers, Only 1.5 Lakh Can Get A Job"},"content":{"rendered":"\n

India’s over $240 billion IT services export sector will cap fresher recruitments to just 70-80K in fiscal year 2024 – the lowest intake in two decades, as post-pandemic demand struggles. Leading firms plan missing campus visits consecutive years amid conservative presence.<\/p>\n\n\n\n

\"90%<\/figure>\n\n\n\n

As per ET, With under 150K freshers onboarded till now<\/a> and marginal expectations ahead, total yearly intake could nosedive 60-65% versus the 2022 peak of 600K that marked the world’s largest campus recruitment drive ever then.<\/p>\n\n\n\n

Tier-2 Colleges to Be Worst Hit<\/strong><\/p>\n\n\n\n

Beyond IT majors already freezing hiring, the sharper plunge in entry-level roles now threatens tier-2 institutes solely dependent on the sector for placements as packages get slashed in half. Even top campuses witness a 20% drop in IT offers. Just 15% of yearly engineering graduates may find IT employment today versus over 70% previously.<\/p>\n\n\n\n

With remote working evolution and AI-led reskilling substituting fresher demand, economic uncertainties have exacerbated existential placement crisis for thousands barely months from graduation as industry recovers slowly.<\/p>\n\n\n\n

Encouraging Trends in Lateral Hiring<\/strong><\/p>\n\n\n\n

However, lateral recruitment of experienced IT professionals as replacement hires indicates early stabilization signs – hiring intent improved 10% by January-end versus late 2022 as per reports. But despite net employee decline of 60K+ across top 5 firms, robust fresher intake recovery remains unlikely before FY2025 amid cautious business strategies balancing growth and margins.<\/p>\n","protected":false},"excerpt":{"rendered":"

India’s over $240 billion IT services export sector will cap fresher recruitments to just 70-80K in fiscal year 2024 – the lowest intake in two decades, as post-pandemic demand struggles. Leading firms plan missing campus visits consecutive years amid conservative presence. 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