The hiring game in the startup ecosystem “is on” with 90% of those taking a survey by Monet Work currently hiring, Alok Soni, the company’s head of business and founding team member, revealed at TechSparks 2023.
Monet Work, which helps companies hire mid and senior-level talent, launched its report on the startup hiring landscape at YourStory’s flagship startup-tech event in Bengaluru. According to Soni, Monet has so far taken into account almost 400 companies and over 1,000 candidates as part of the survey, which is still live.
“In case you have been thinking about applying for a job in a startup, this is your cue,” said Soni, who also disclosed that among the startups recruiting, 20% of the companies are hiring for more than 20 open positions.
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There is no winter for mid and senior-level hiring, which probably would have been the case around a year ago, he said, adding that 75% of the companies mentioned they are hiring for mid-level (someone with three to eight years of work experience) and 35% are hiring for senior level roles (those with more than eight years of work experience).
The findings come at a time when overall hiring landscape has seen a dip over the past few months with Foundit Insights Tracker for August 2023 saying that employers are emphasising taking in people who are aligning with both their immediate needs and skill requirements.
According to Soni, the situation looks promising on the compensation front as well. 60% plus companies accepted that they are paying at par with the market salary, while 20% said that they pay more than market salary.
Soni also said only 23% of the companies mentioned that they prefer candidates from premier institutes, noting that they are instead looking for people with startup experience. “If you want to work in a startup, work in a startup. It’s as simple as that,” he added.
Edited by Affirunisa Kankudti
