Indian IT Companies will Hire 360,000 Freshers in 2022

Indian IT Companies will Hire 360,000 Freshers in 2022

Indian IT Companies will Hire 360,000 Freshers in 2022

A report from the cognitive intelligence platform UnearthInsight projects that Indian IT companies will hire approximately 360,000 freshers in 2022.

IT Industry Q3 insights and FY22 Forecast released Thursday showed that the attrition rate will rise to 22-24%, up from 22.3 percent and 19.5 percent respectively last quarter. It is expected that it will fall to 16-18% by 2023.

According to the report, small and mid-tier Indian IT companies offered salaries. Increases and advancement bonuses range from 8-12 percent. Indian IT service organizations are expected to increase revenues by 19-12% in fiscal 2022.

Gaurav Vasu founder and CEO, UnearthInsight stated that the IT industry’s growth expectations remain unchanged despite the widespread pandemic in the past few weeks.

“This year, the industry will post its highest-ever revenue growth.” This growth momentum will continue due to cost, skill, and teamwork in fiscal 2023-2024.

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Indian IT Companies will Hire 360,000 Freshers in 2022

The Indian IT services market is expected to grow from $230 billion to $240 million by fiscal 2022 due to strong growth among the top 15-20 Indian IT service providers, and significant growth within GCC and captive sectors.

Vasu stated that cloud and platform businesses in key IT organizations are experiencing great growth and low-code and zero-code platform penetration is increasing at a significant pace.

The study shows that Tier-1 and Tier-2 players’ wage bills or staff expenses (excluding contractors) will rise by 0.5-2 percent in FY23. Margins declined as more people were hired, retained, and subcontracted during the third quarter of fiscal 2022.

TCV is expected to remain strong because of the significant platform implementation, digital transformation, and product and cloud implementation transactions in the BFSI and retail sectors. Indian IT Companies To Hire.

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