The Indian city of Mumbai, recorded a 41% increase in hiring activity in fiscal Q4 2022 when compared to fiscal Q4 2021, according to research from Naukri.

At the same time, the city also recorded an 18% increase in salary, which is higher than the rest of the metro cities in India which recorded an average salary increase of 11%.

The Naukri.com report said, "Recent data suggests that the city has bounced back after a pandemic induced slowdown as it not only recorded the highest average salary hike of 18% in comparison to its metro counterparts but also witnessed an astonishing 41% growth in hiring activity in Q4 2022 vs Q4 2021, giving job seekers double reasons to rejoice."

Pawan Goyal, Chief Business Officer, Naukri.com said, "With a strong rebound in overall hiring activity, the financial hub of India sees a significant jump in job openings to fulfil the talent demand across sectors led by BFSI and Education. In the last 3-4 months, Mumbai's employment market has shown sustained growth which is now also reflecting in salary hikes."

During the quarter ended March 2022, the BFSI and education/teaching sectors in Mumbai saw upticks in hiring of over 60% over the year. Real Estate (57%), Pharma (34%) and BPO (22%) also showed growth. IT recorded growth of 33% over the same period.

During the quarter there was an upsurge in the hiring for freshers (0-1 years’ experience) as it recorded the highest annual growth at 50% compared to Q4 2021. Similarly, mid-senior professionals (10-15 years’ experience) also witnessed 50% growth in hiring activity.