The IT professionals in India have a lot to cheer about in 2019 with a likely two-digit salary hike apart from the increased hiring across the sector, according to NASSCOM.
The overall salary hike in the Indian IT sector will be 8-10 per cent, compared to 6-8 per cent last year, the Vice-President of NASSCOM, Sangeeta Gupta, said.
The top performers would be in for more pleasant surprises as there salary increments would be in the range of 20 per cent, various India-based human resource and talent acquisition firms said, according to Economic Times.
The emerging segments in the IT sector such as automation, artificial/robotic intelligence, cloud computing, cybersecurity and blockchain have upped the chances of those IT professionals specialising in these skills to get even more hikes.
Irrespective of the inflation, the overall scenario in India's IT industry is looking positive with an average 6-8 per cent salary increase across IT products and IT services sectors, according to NASSCOM.
Global consulting firm Mercer said that the professionals in IT products sector are likely to see a 10 per cent hike whereas those in IT services companies will see a 9-9.5 per cent salary increment.
Another advisory firm, Wills Towers Watson, predicts that the best performers across the IT industry will be rewarded graciously by their bosses as the companies have set aside 40 per cent of their budget for their efficient staffers.
There is also good news on the incentives part. Those who have upgraded their skills across the emerging segments will be granted incentives and other incentives, whereas there will no major spending on employees with traditional skills.
More hirings and a positive growth signals a happy 2019 for Indian IT sector
The talent acquisition teams in IT companies are also upbeat about new hirings especially when they have been keeping busy in 2018. The Indian IT sector hired four times more engineers in 2018 compared to 2017 with the top-notch companies hiring about 95 per cent of the new workforce.
The projection of more hiring in 2019 is also a positive trend and the companies are no more holding up on their hiring plans, NASSCOM suggested. As a result, job aspirants and young engineering students are also honing their skills in automation intelligence and machine learning to increase their recruitment chances.
The companies are also not letting inflation and sluggish growth affect the recruitment and pay scales of employees, which is a healthy trend overall, the experts say.
