Less pay, increased scrutiny, limited job offers: Rough ride for senior talent in start-ups

Senior talent looking to switch jobs in the start-up ecosystem are finding it tough to land in a shaky business environment compared to the pre-funding winter period. Companies are now implementing increased scrutiny across job roles, rolling out only a few offers and offering salary cuts in some cases as barter to job stability.

Senior talent is taking a salary cut of at least 10-15 percent to secure a job role in start-ups, according to data shared with Moneycontrol by executive search firm LONGHOUSE Consulting which analysed more than 135 talent movements in start-ups in India from January 2024 to June 2024.

Data showed that organisations such as Zoomcar, 5Paisa, Swiggy, Zepto, Porter, and upGrad, among others, are offering a maximum hike of 20 percent, down from 50 percent during 2022-23. Further, at least 29 senior talent remain “free agents” – those who have ended their previous stints with any organisation and are currently between opportunities.Data showed that organisations such as Zoomcar, 5Paisa, Swiggy, Zepto, Porter, and upGrad, among others, are offering a maximum hike of 20 percent, down from 50 percent during 2022-23. Further, at least 29 senior talent remain “free agents” – those who have ended their previous stints with any organisation and are currently between opportunities.

“There’s been a notable increase in free agents at the leadership level compared to the pre-funding winter period. We’re seeing a jump of about 18-25 percent, which is significant. Functions which have seen the highest rise in free agents include technology roles like engineering/product management and business/operations management roles,” Rohit Srivastava, Senior Partner LONGHOUSE Consulting, told Moneycontrol.

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