Freshers’ Salary On The Rise In IT Companies Amid Mid-Level Layoffs

Must Read

Apple Inc. (AAPL) And Samsung Group (005930) Combined Smartphone Market Share Shrunk To Below 50% In Q1 2014: Huawei and Lenovo Rising Fast!

Apple Inc. (NASDAQ:AAPL) and  Samsung Electronics Co. Ltd. (KRX:005930) are the undisputed heavyweights of the smartphone world. Together, both brands accounted for 50%...

Sales Of iPhone XS, XS Max In India: Buyers Giving The Cold Shoulder, But It’s Not Time For Apple To Panic Just Yet

Apple Inc. (NASDAQ:AAPL) recently launched their new flagship lineup of iPhone for 2018, and they were met with equal...

Uber India Layoffs 25% Workforce Citing Tough Market Conditions

After laying off thousands of employees in the US, Uber is scaling down its operations in India...

The Information Technology industry in India is recently going through some turmoil with massive mid-level layoffs taking place in some of the most reputed and leading Indian technology companies. It is an obvious cause for concern for those planning to join the industry as a newly minted fresher. However, these conditions shouldn’t scare them away as entry-level salaries are being said to rise with the onset of the recruitment of new graduates.

According to a survey conducted by a recruitment firm TeamLease, in December 2019, the number of IT jobs in India are said to grow by 10% in the year 2020 along with the salaries. The latest report that is focused more on salary trends of fresher and mid-level managers in India highlights the fact that the salaries of I.T. freshers grew almost 15% between 2017 and 2019, compared with the mid-level salary base that increased only 11% during the same period.

There was also quite an interesting observation about temporary workers hired by I.T. companies between 2017 and 2019. Their salaries (of freshers) grew 26% against that of the mid-level employees whose salaries only grew up to 19% in the same period.

Advertisements

On the other hand, there are more many challenges that mid-level managers and employees would face. It’s expected that due to the fast-changing technologies, and slow growth in the economy, companies would be soon forced to let go of a sizeable share of their mid-level employees. While many companies are actively investing in re-skilling their employees, falling in the mid-salary bracket, the challenge to upgrade every recruited one is an uphill battle.

All of that doesn’t apply to fresh graduates as they are expected to be equipped with knowledge in new and emerging technologies along with industry-standard practices.

Hence, the jobs for freshers in India would be blossoming in CY20/FY21, as IT companies find more value in hiring freshers loaded with the latest technologies and skills than re-skilling everyone.

Future of IT Companies in India

There is no doubt that Indian I.T. giants such as T.C.S, Infosys and Wipro have indicated they are all geared up to foster worker engagement and reward high performing and valuable employees who join as fresh graduates in the industry. This will also help them finally cut off their dependency on subcontractors.

While this surely looks like a step in the right direction, these tech giants must also come to the conclusion that they are ageing pretty quickly and with that so are their employees whom these companies are letting go of. They must not forget that they have contributed a significant chunk to the growth of these companies and therefore there must be some alternative measure that these companies can come up with to battle this issue of skill gap.

Advertisements

One can suggest re-skilling the mid-level employees so they can strengthen and retain their core skills while developing new ones and expanding their overall skill-set.

We can firmly say, whatever be the case, the I.T sector in India is showing no signs of slowing down but only gearing up to get bigger and freshers who wish to join this industry can certainly expect to be the part of a technological revolution with the coming age of Artificial Intelligence, Machine Learning, Automation and other futuristic technologies.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

Worldwide Smartphone Shipments 2020: Record Decline In The History of Smartphones

The revised projection of worldwide smartphone shipments in 2020 is definitely going to disappoint all smartphone manufacturers...

Uber India Layoffs 25% Workforce Citing Tough Market Conditions

After laying off thousands of employees in the US, Uber is scaling down its operations in India now. Uber is downsizing its...

Apple is Being Evil For 1.5 Billion iPhone, iPad Users Worldwide

Last year when Apple Inc. (NASDAQ:AAPL) was accused of recording everything that iPhone users were talking through Siri, the company was quick...

Is Bill Gates Developing Covid-19 Vaccine To Track Billions Of Users Worldwide?

Bill Gates is once again at the centre stage of controversy related to novel Coronavirus. Battling falsehood and paranoid...

Darkest Before Dawn: Can India Survive Its Worst Ever Recession?

Bolt your doors, batter down your hatches, brace yourselves. Recession is about to make landfall. According to Goldman Sachs, a...

Crisis Of Trust: The Glue Between Brands, Customers And Employees!

The COVID-19 crisis, which shows no sign of stopping any time soon, has left no life untouched in terms of impact. It...

In-Depth: Dprime

Fantastic 4: Four Day Work Week A Flashpoint Of Innovation?

It has been an idea that has been mooted by many, perhaps also somewhat sceptically. From being a dark horse to becoming...

TikTok Is Facing The Wrath Of People Who Love It The Most

Ever since the popular social media app TikTok entered India, it has been growing very aggressively in terms of users. Within a...

Facebook Shops: Looking Beyond Ad Dollars!

Amid this global pandemic, when companies are struggling to find new verticals to pivot towards in order to maintain their revenue and...

More Articles Like This