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IT hiring remains muted while demand for talent with functional skills rises in Q2 of FY24: Report

  • IT sector hiring remained subdued in Q2 FY24, showing a decline in headcount for large IT services companies.
  • Despite the overall muted hiring, there was a notable surge in demand for functional skills such as Development, ERP, Automotive Design, Testing, and Administration.
  • Specific functional skills contributed to 65% of IT sector demand, with additional interest in Gen AI, Data Science, DevOps, Cloud, Automotive Engineering, Cyber Security, and Networking Specialists.
  • India's IT sector is transforming beyond Bengaluru, with emerging tech hubs like Pune, Hyderabad, Mumbai, Chennai, and Delhi NCR gaining prominence, accounting for over 79% of technology job postings.

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