IT Employees Demanding 70% Salary Hike For Switching Jobs! These Skills In High Demand
Indian IT workers are demanding a hike in salary of 70% as they take advantage of increased demand for certain skills.
They are also turning down several offers and because of that are demanding a steep hike if they are to commit themselves to any employer.
The salary hike demand figures of the pre-Covid era was just 15-30%.
Due to the pandemic, which has rapidly seen the increase in adoption of digital and tech, several IT roles pertaining to those have been enjoying consistently high demand.
Roles In Popular Demand: TCS
Those roles include SaaS (software as a service), edtech, health-tech, gaming, artificial intelligence, machine learning, automation, digital transformation, blockchain and cybersecurity.
This trend is exemplified by Tata Consultancy Services, India’s largest IT company, which has reportedly hired 20,409 new recruits in the period of April-June.
This is a record for the company in terms of net headcount addition in a quarter.
Other IT services companies like Capgemini, Genpact and Publicis Sapient also have plans to ramp up hiring in the coming months.
Roles In Popular Demand: Capgemini And Others
Capgemini, with more than 125,000 employees in India, is actively recruiting talent in areas such as cloud, digital, cybersecurity, AI, Internet of Things solutions, edge computing and 5G engineering skills, data management, SAP, Java, Microsoft, Testing and Oracle.
Genpact has higher demand for people with cloud programming skills.
Publicis Sapient is filling roles in strategy, product managers experience, big data engineers and full-stack developers.
Randstad Loses Candidate Due To Counteroffer
Randstad India is seeking applicants with over four years of experience in software development and drawing an annual salary of Rs 15 lakh.
It is also offering a 47% hike to entice potential employees.
In one such case, a person who was offered the hike received a counteroffer from their existing employer of Rs 27 LPA, which they accepted.
So, this is a steep incline from Rs 15 LPA to Rs 27 LPA (80% hike).
Several other such stories have transpired in the last 2 months with candidates receiving multiple offers and counteroffers.
Other recruitment and staffing firms like TeamLease Services, ABC Consultants, Quess and Taggd (PeopleStrong recruitment brand) have also witnessed the same.
IT employees are taking full and due advantage of the new dynamics as they wait it out for over 50% hikes.
Rituparna Chakraborty, cofounder of TeamLease puts it, “Hiring in the IT sector is at its peak and candidates are getting exorbitant offers and better roles across the industry.”