Internshala, the leading career-tech platform, has unveiled its annual report on internship and fresher job hiring in India, providing valuable insights into the evolving landscape of entry-level recruitment for the year 2023. The data-rich analysis showcases a substantial surge in hiring, with over 4.3 lakh students securing internships and fresher jobs, marking a remarkable 16.4% increase from the previous year’s 3.7 lakh hires in 2022. This report delves into seasonal patterns, industry preferences, geographical distribution, and educational backgrounds, offering a comprehensive overview of the dynamic job market.
One of the key revelations from the report is the identification of a seasonal hiring pattern, with the peak period observed during the summer months from March to July. This period witnessed over 40,000 hires each month, with March recording 44,000+ hirings and July at an impressive 45,000+ hirings. The trend suggests a strategic alignment of recruitment practices with the academic calendar, allowing organizations to tap into a fresh pool of talent entering the workforce.
In terms of industry preferences, the report categorizes the top fields in which students were hired, with management leading at 66%, followed by media at 21%, engineering at 10%, and design at 1%. This breakdown provides valuable insights into sectors actively engaging with young talent, guiding students and educational institutions to understand and adapt to industry demands. The dominance of management roles signifies a continued emphasis on leadership and business acumen in the professional world.
Financial aspects of internship and fresher job opportunities take center stage in the report, revealing that the highest stipend for an intern reached an impressive Rs. 60,000 per month. The average stipend, however, stood at Rs. 4,000 per month. For fresher job hires, the average annual salary was Rs. 4.42 lakhs, with the highest annual salary reaching an outstanding Rs. 55 lakhs. These figures highlight the competitive nature of internship compensation and underscore the potential financial rewards awaiting young professionals entering the job market.
Educational backgrounds play a pivotal role in shaping the hiring scenario, and the report provides a detailed breakdown of degrees pursued by hired candidates. B.Tech leads at 26%, followed by B.B.A. at 9%, MBA at 8%, B.Com at 8%, B.Sc at 5%, B.A. at 4%, BCA at 3%, B.Com (Hons.) at 3%, B.A. (Hons.) at 2%, M.A. at 2%, and the remaining 100+ degrees at 32%. This information serves as a compass for educational institutions to align their curricula with industry demands, guiding students to make informed choices about their academic pursuits.
The experiential aspect of hiring is another critical dimension explored in the report, revealing that 37% of hired students had at least one previous internship experience. This underscores the growing significance of hands-on experience in the competitive job market, indicating that employers increasingly value candidates with a proven track record of practical skills. On the flip side, 60% of the hires secured their first internship, suggesting a continuous influx of fresh talent into the professional world.
Geographical distribution emerges as a critical factor, with tier-1 cities dominating the recruitment scene. Delhi-NCR leads at 26%, followed by Mumbai at 12%, Bangalore and Pune at 8% each, Hyderabad at 5%, Chennai at 4%, and Kolkata at 4%. This breakdown provides valuable insights for both employers seeking diverse talent pools and job seekers exploring internship and fresher job opportunities, reflecting the concentration of opportunities in metropolitan areas.
Sarvesh Agrawal, the founder and CEO of Internshala, commented on the hiring trends, stating, “Over the past decade, internships have been well recognized by students, educational institutions, the professional world, government, and parents as a key aspect in a student’s professional journey. The culture of internships has been normalized owing to the fact that internships offer the much necessary skill polishing, skill building, and practical-based learning to the aspiring students. Internshala’s annual hiring report highlights the increased awareness and thus increased competition among the students to grab the best of internship opportunities. The report is also highly optimistic, reflecting that the number of students being hired is only going to increase in the upcoming years.” As the report sheds light on the trends shaping the internship and fresher job landscape, it stands as a valuable resource for students, educational institutions, and employers navigating the evolving dynamics of entry-level recruitment in India.