As a wave of fresh job cuts sweeps across the edtech sector, laid-off professionals and worried employees at troubled firms are reaching out for placements. Recruitment firms as well as startups that are hiring are seeing a big influx of calls and resumes from edtech professionals looking for new jobs, as trouble in the sector looks likely to escalate.
Job consultants say many are willing to take pay cuts of even 20-40%. At the senior level, it could go up, even more, factoring in the value of ESOPs.
“The edtech sector didn’t factor in the possibility that things might move back to a physical model after the pandemic. Now they are suffering the consequences,” says Anshuman Das, managing partner of executive search firm Longhouse Consulting.
He cites the case of a former top honcho at an affected edtech firm who was getting Rs 3 crore plus in cash plus nearly three times the amount in ESOPs. Initially unwilling to compromise on his salary, he is now willing to settle for a cut.
Tech, sales and marketing, content, product developers, teachers and contractual staff like testers, have all been affected. While the first two categories have comparatively more opportunities, teachers are among the worst hit.
Many came in at 40-50% hikes when the sector was booming and have now been left high and dry, adds Das.
Please note that Careernet does not practice charging a placement fee from any job seeker across profiles. Word of caution to the fraudulent news and information, if anyone demands any kind of charges from you, in the name of Careernet Consulting.