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Indian Startup Hiring for Senior Roles Drops 80% in Q1 2023

A new report by LONGHOUSE Consulting shows an 80% drop in senior hiring at Indian startups with salaries over 50 lakh per annum in the first quarter of 2023, due to the ongoing funding winter.

Kashish Haswani
New Update
startup hiring drop

Startup Hiring Drop | Image Credits - iStock Images

Senior hiring at Indian startups with salaries over R50 lakh per annum has decreased by 80% in the first quarter of 2023, continuing a trend of declining hiring amid a funding winter, according to a report by executive search and talent advisory firm LONGHOUSE Consulting.

The e-commerce and tech sectors were hit particularly hard, with hiring dropping by 93% and 84%, respectively. CEO and Founder of LONGHOUSE Consulting, Anshuman Das, predicted ongoing losses in senior positions and high-paying jobs, particularly in growth-stage and late-stage startups. However, early-stage and Pre-Series A startups are projected to hire, particularly in the EV, healthcare, AI/ML, fintech, and manufacturing sectors.

Das also suggested that the current startup slowdown would fuel more entrepreneurship than negatively impact it, with a surge in seasoned entrepreneurs launching their second or third ventures, as well as seasoned executives switching to entrepreneurship.

The funding winter appears to be deepening, with Indian startups raising a total of $2.8 billion in Q1 2023, a 75% decrease from the same period in the previous year when $11.9 billion was raised. Additionally, there were no new unicorns created in the January-March period, compared with 14 unicorns in Q1 2022, according to a recent report by global market intelligence platform Tracxn.


The decline in hiring and funding may have a significant impact on the Indian startup ecosystem. However, early-stage startups in specific sectors are projected to weather the storm, and seasoned entrepreneurs and executives may fill the gaps left by the decline in senior hires.

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