Justifying its tagline of IT hub, Bengaluru snags the 'top startup hiring location in India' tag, a study by Foundit (formerly Monster APAC & ME), a talent platform, revealed.
Foundit Insights Tracker (FIT) timeframe is a year – from April 2023 to April 2024. According to the report, Bengaluru records a 31 per cent share of startup jobs, followed by Delhi (23 percent) and Mumbai (18 percent).
Hyderabad and Chennai have clocked the least share of startup jobs, 5 per cent. Incidentally, when compared year-on-year, Bengaluru has registered a 2 per cent drop in its startup hiring – last year’s report released in April 2023, saw the city clocking a 33 per cent share in hiring.
Remote working hiring share too has dropped significantly, from 8 percent in 2023 to 3 percent in 2024. The report has also stated that startups are looking to hire freshers (with 0 to 3 years of experience), for 53% of all the jobs available.
In the accompanying press note, Sekhar Garisa, CEO of Foundit, said, “Startups are increasingly leaning towards recruiting fresh talent, with over half of their job postings targeted at newcomers. In this market, young professionals should differentiate themselves by picking up relevant skills and not solely rely on their professional degrees.”
As per the report, India’s startup ecosystem is rapidly expanding beyond the metros, with non-metro locations increasingly emerging as entrepreneurial hubs. It also states that the production and manufacturing sector witnessed a 31 per cent year-on-year surge in hiring.
“This growth will go a long way in contributing to realizing India's vision to emerge as a global manufacturing powerhouse,” added Garisa.
Thanks to the heat wave, there is a surge in demand for home appliances, with 27 per cent year-on-year growth, stated the report. In response, the sector swiftly adjusted its inventory, distribution, and hiring strategies to meet the rising consumer demand. Jobs in the tourism industry also saw a 23 per cent year-on-year growth, it added.
According to the report, while startups are looking to hire freshers (0 to 3 years), the overall job market has only shown a slight yearly uptick of 1per cent in demand for freshers.
In other sectors, demand for professionals with more than 15 years of experience saw an 11 per cent year-on-year increase in hiring and the requirement for mid-senior-level professionals with 7 to 10 years of experience witnessed a monthly growth of 7 per cent.
