Job portal Naukri.com’s survey has found Mumbai to be the city which has recorded the highest average salary hike of +18% in comparison to its metro counterparts.
The rest of the metros in India recorded an average salary hike of +11%.
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Other Major Metros, Popular Sectors
IT hub Bangalore followed Mumbai at a 15% average salary hike, while Delhi remained at +12% in JFM ’22 vs JFM’20.
Mumbai has also witnessed an astonishing +41% growth in hiring activity in Q4’22 vs Q4’21.
Most of the hiring activities in the city took place the most in the BFSI sector (+60%) & education/teaching (+60%).
Real estate (+57%), pharma (+34%) and bpo (+22%) follow close.
IT Hiring
The IT sector will inevitably lead the pack when it comes to maximum hiring momentum thanks to demand for tech-enabled skills.
Invariably Mumbai also recorded the maximum number of it-software and software services jobs in Jan-Mar’22.
Naukri.com also reported that the IT-software industry has seen the maximum QoQ growth in salary hikes at 33% (Jan-Mar’22 vs Jan-Mar’21).
Thanks to the positive hiring trend in Mumbai, fresh graduates and mid-senior professionals remained in great demand all year round.
Uptick In Fresher Demand
In Jan-Mar’22, a surge in fresher hiring was witnessed.
Similarly, mid-senior professionals (10-15 years) also witnessed a significant y-o-y growth of 50% in the hiring activity.
Mumbai saw an unprecedented race for undergraduate talent
75% of job listings in the city cited requirements for only undergraduate degrees in Jan-Mar’22 and Oct-Dec’21.
Remote Work Still Popular
Despite offices in the city getting ready to switch back to the work-from-office model, the city still recorded a total of 11% of job listings as remote opportunities in the last quarter of 2020-21.
So clearly remote working is not going anywhere, pandemic or not.
Pawan Goyal, Chief Business Officer, Naukri.com commented that Mumbai, the country’s financial hub, has witnessed a significant jump in job openings to fulfil the talent demand across sectors that are led by BFSI and Education.
In the past 3-4 months, Mumbai’s employment market has shown sustained growth which is now also reflected in salary hikes.