upGrad’s H1 report boasts 300% pay hikes, 16% more placements: Report

• ByStartupStory     |    November 27, 2023

upGrad’s H1 report unveiled staggering salary hikes of up to 300% and a remarkable 16% surge in placement counts in the first half of 2023. Notably, data analysts, digital marketers, data scientists, data engineers, and business analysts saw substantial growth in job opportunities, particularly in Bengaluru, Delhi, and Mumbai, identified as the top job hubs.

Highlighting the significant strides, Husain Tinwala, Co-Founder of upGrad Rekrut, emphasized, “As we navigate through a dynamic job market, it is imperative for us to enhance our placement services every six months and add newer elements to be in sync with India’s hiring pulse.”

upGrad’s acquisition of Rekrut India in 2020 proved pivotal, marking a significant move within the Indian edtech industry by integrating recruitment and solutions staffing services. Ronnie Screwvala, Co-founder and Chairman, UpGrad, underscored the rapid progression of technology-induced roles, advocating for top-notch pedagogy and comprehensive placement support to empower talent in a swiftly evolving landscape.

Mayank Kumar, Co-founder and MD, upGrad, emphasized the growing importance of upskilling, stating, “The amount of opportunities talent has today is in abundance, but the process is getting tougher. One needs to be a specialist and understand market-ready tools to be able to make the cut.”

Moreover, upGrad’s initiatives expanded globally, unveiling the upGrad Institute, a government-approved educational institution in Singapore, investing $5 million in its establishment and expansion. This move aimed to provide an industry-ready experiential curriculum, aligning with emerging trends in the education sector.

These developments align with broader industry trends. A survey by Emeritus revealed that over 75% of Indians are concerned about technology replacing their jobs if they do not upskill. Similarly, Scaler’s 2023 Hiring Survey indicated that nearly two-thirds of Indian tech companies are investing in upskilling programs to bridge talent gaps, reflecting the industry’s commitment to addressing evolving skill requirements.

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