Landing that first job just got tougher for fresh graduates entering the workforce today.

A recent report by Indeed, paints a sobering picture, revealing a&nbsp;downward spiral in entry-level hiring since 2021.

The data indicates several new troubles&nbsp;for fresh graduates.

Shrinking opportunities

Fresher job postings have&nbsp;dropped 8.5 per cent since December 2021,&nbsp;and applications (job clicks) have&nbsp;plummeted by 34.3 per cent.&nbsp;This translates to fewer opportunities available in the job market.

Waning enthusiasm

Graduates themselves seem less eager,&nbsp;with demand for entry-level roles&nbsp;dipping 37.4 per cent year-on-year.&nbsp;

This decline in interest could be due to several factors,&nbsp;including hesitation to enter a volatile job market,&nbsp;skill mismatch with evolving tech landscapes,&nbsp;or differing salary expectations.

Economic instability

Global economic uncertainties and market fluctuations in the main culprit behind this double whammy.

With high economic instability, companies are&nbsp;adopting a cautious approach, holding off on large-scale fresher hiring until the outlook clears.

This is particularly evident in the tech sector, where companies are re-evaluating their recruitment strategies amidst dynamic market shifts, leading to a noticeable reduction in campus hiring initiatives.

Hope on the horizon

While the report sounds concerning, there are silver linings.

Sashi Kumar, Head of Sales at Indeed India, clarifies, "This doesn't mean fresher hiring is at a standstill. Other areas like admin, sales, marketing, etc., continue to have opportunities for new graduates."

He attributes the current cautiousness to companies waiting to see how the next few quarters pan out before committing to large-scale hiring.

Where are the jobs?

The report identifies specific sectors still actively seeking fresh talent:

Admin:&nbsp;Taking the lead with an 11.5 per cent share of fresher job postings.

Tech and Software:&nbsp;Despite the slowdown,&nbsp;still the second-largest recruiter.

Sales:&nbsp;Offering 6.39 per cent of entry-level opportunities.

Marketing:&nbsp;Accounting for 5.47 per cent of fresher job postings.

Management:&nbsp;With a 4.87 per cent share.

Sharpen your skills to stay ahead

While the job market might be cooling down, Kumar emphasises the importance of equipping oneself with relevant skills to stay competitive.

"As we observe the hiring landscape, it will be crucial for freshers to arm themselves with new-age digital skills that can be a competitive advantage as companies begin to hire again," he advises.

Landing that first job just got tougher for fresh graduates entering the workforce today. A recent report by Indeed, paints a sobering picture, revealing a downward spiral in entry-level hiring since 2021.

Landing that first job just got tougher for fresh graduates entering the workforce today. A recent report by Indeed, paints a sobering picture, revealing a downward spiral in entry-level hiring since 2021. The data indicates several new troubles for fresh graduates. Shrinking opportunities Fresher job postings have dropped 8.5 per cent since December 2021, and applications (job clicks) have plummeted by 34.3 per cent. This translates to fewer opportunities available in the job market. Waning enthusiasm Graduates themselves seem less eager, with demand for entry-level roles dipping 37.4 per cent year-on-year. This decline in interest could be due to several factors, including hesitation to enter a volatile job market, skill mismatch with evolving tech landscapes, or differing salary expectations. Economic instability Global economic uncertainties and market fluctuations in the main culprit behind this double whammy. With high economic instability, companies are adopting a cautious approach, holding off on large-scale fresher hiring until the outlook clears. This is particularly evident in the tech sector, where companies are re-evaluating their recruitment strategies amidst dynamic market shifts, leading to a noticeable reduction in campus hiring initiatives. Hope on the horizon While the report sounds concerning, there are silver linings. Sashi Kumar, Head of Sales at Indeed India, clarifies, "This doesn't mean fresher hiring is at a standstill. Other areas like admin, sales, marketing, etc., continue to have opportunities for new graduates." He attributes the current cautiousness to companies waiting to see how the next few quarters pan out before committing to large-scale hiring. Where are the jobs? The report identifies specific sectors still actively seeking fresh talent: Admin: Taking the lead with an 11.5 per cent share of fresher job postings. Tech and Software: Despite the slowdown, still the second-largest recruiter. Sales: Offering 6.39 per cent of entry-level opportunities. Marketing: Accounting for 5.47 per cent of fresher job postings. Management: With a 4.87 per cent share. Sharpen your skills to stay ahead While the job market might be cooling down, Kumar emphasises the importance of equipping oneself with relevant skills to stay competitive. "As we observe the hiring landscape, it will be crucial for freshers to arm themselves with new-age digital skills that can be a competitive advantage as companies begin to hire again," he advises.

Fresh Grad Blues: Entry-level hiring slumps as economic woes bite, says report

A Business Today analysis has revealed&nbsp;that in the past 10&nbsp;years, salary increases for new hires in the IT sector have been more muted than those for their CEOs. While the pay for CEOs has skyrocketed by around 1500 per cent, that of new hires has climbed by just a little over 45 per cent.&nbsp;In contrast to the CEO compensation, which has increased by a staggering 1,492.27 per cent over the last ten years, freshers' incomes have increased by just 46.94 per cent, according to a review of the average remuneration packages of CEOs of IT companies and freshers.

Additionally, according to the Business Today analysis, the median compensation for CEOs has increased by 1,449.02 per cent&nbsp;while the typical salary for freshmen has only increased by 40&nbsp;per cent.

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This discrepancy in the salaries between the CEOs and those at the bottom of the pyramid is not lost on industry veterans. T.V. Mohandas Pai, former CFO and Board Member at Infosys, told Business Today, “There has been no increase in compensation for freshers. They are being paid the same `3.5-4 lakh that the companies were paying 10-12 years ago. During this time, the salary for managers and seniors has gone up 4x, 5x, 7x.”

Also watch |&nbsp;Ukrainian President Volodymyr Zelenskyy holds talks with Indian PM Narendra Modi

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Vineet Nayar, former CEO of HCL Tech shared&nbsp;similar views. He told Business Today&nbsp;"This is an unfortunate depreciation and understanding of the roles that employees play in an organisation's growth. &nbsp;We have not understood the fundamentals of management. The fundamentals of management is that if companies were to spend even part of their marketing budget on enthusing, encouraging, and enabling your employees, you would see 10x returns."

Data from TeamLease Digital research shows how out of proportion the wages are at both levels when comparing the CEO's compensation to that of a new hire in the same organisation. This ratio is 1,973 at Infosys, 2,111 at Wipro, 1,020 at HCL Technologies, 644 at Tech Mahindra, and 619 at TCS.

Former NASSCOM president Kiran Karnik observed that this discrepancy may be caused by the fact that current graduates and new hires lack the necessary abilities.

Karnik told Business Today, “I now speak across the board in aggregate terms, they(freshers) don't have the skills that the company needs. Very often they don't have the domain skills, they have to be trained in that. And most often they don't have what we call soft skills, working in teams, communicating in any language."

WATCH WION LIVE HERE:

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A Business Today analysis has revealed that in the past 10 years, salary increases for new hires in the IT sector have been more muted than those for their CEOs.

A Business Today analysis has revealed that in the past 10 years, salary increases for new hires in the IT sector have been more muted than those for their CEOs. While the pay for CEOs has skyrocketed by around 1500 per cent, that of new hires has climbed by just a little over 45 per cent. In contrast to the CEO compensation, which has increased by a staggering 1,492.27 per cent over the last ten years, freshers' incomes have increased by just 46.94 per cent, according to a review of the average remuneration packages of CEOs of IT companies and freshers. Additionally, according to the Business Today analysis, the median compensation for CEOs has increased by 1,449.02 per cent while the typical salary for freshmen has only increased by 40 per cent. Also read | Explained: India’s financial capital Mumbai battles measles outbreak, over 500 infected This discrepancy in the salaries between the CEOs and those at the bottom of the pyramid is not lost on industry veterans. T.V. Mohandas Pai, former CFO and Board Member at Infosys, told Business Today, “There has been no increase in compensation for freshers. They are being paid the same `3.5-4 lakh that the companies were paying 10-12 years ago. During this time, the salary for managers and seniors has gone up 4x, 5x, 7x.” Also watch | Ukrainian President Volodymyr Zelenskyy holds talks with Indian PM Narendra Modi Vineet Nayar, former CEO of HCL Tech shared similar views. He told Business Today "This is an unfortunate depreciation and understanding of the roles that employees play in an organisation's growth. We have not understood the fundamentals of management. The fundamentals of management is that if companies were to spend even part of their marketing budget on enthusing, encouraging, and enabling your employees, you would see 10x returns." Data from TeamLease Digital research shows how out of proportion the wages are at both levels when comparing the CEO's compensation to that of a new hire in the same organisation. This ratio is 1,973 at Infosys, 2,111 at Wipro, 1,020 at HCL Technologies, 644 at Tech Mahindra, and 619 at TCS. Former NASSCOM president Kiran Karnik observed that this discrepancy may be caused by the fact that current graduates and new hires lack the necessary abilities. Karnik told Business Today, “I now speak across the board in aggregate terms, they(freshers) don't have the skills that the company needs. Very often they don't have the domain skills, they have to be trained in that. And most often they don't have what we call soft skills, working in teams, communicating in any language." WATCH WION LIVE HERE:

India: Salaries of IT CEOs climbed by 1,500% compared to only 50% for new hires, says report

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