Despite the pandemic situation, IT professionals are demanding a 50-70% salary hike while changing jobs as per a recent report. The reason for this can be found in the increased demand for software services as businesses have started going digital since the beginning of the pandemic.
There is a huge demand for IT services executives who have worked in artificial intelligence, automation, blockchain, cybersecurity, edtech, digital transformation, gaming, health-tech, machine learning, and SaaS (Software as a Service). Spoilt for choice, IT professionals are not only rejecting several jobs and cherry-picking offers but also demanding a major hike for switching jobs.
Commenting on this, NASSCOM Senior Vice-President Sangeeta Gupta said, "It is a war for digital talent as corporates of all sizes are transforming businesses to go digital. This has got accelerated by the pandemic," reported ET Now Digital.
Hiring In The First Quarter
The fiscal first-quarter report of India's largest IT firm Tata Consultancy Services (TCS), indicates the same. This year, 20,409 employees joined the organisation between April-June: this was the highest ever total headcount added in a quarter.
Several other IT services companies like Capgemini, Genpact, and Publicis Sapient are also planning to increase hiring in the months to come. For instance, Genpact global hiring leader Akhilesh Nair claimed that professionals skilled in cloud programming are in high demand now.
Similarly, with over 1,25,000 employees in India, Capgemini is hiring people in areas like Artificial Intelligence, cloud, cybersecurity, data management, edge computing and 5G engineering skills, Java, Microsoft, Internet of Things solutions, SAP, and Testing and Oracle.
"What started as a search for a better role ended me with receiving seven job offers within two months. I received a hike of more than 90% as I changed my organisation. I even had to say no to many job interviews. The IT job market is full of options now for those who are looking for a change. I would say that it's the right time for IT professionals to switch their jobs," Krishna Mohan, an IT professional shared his experience in a conversation with The Logical Indian.
Growth In Other Sectors During Pandemic
Earlier, a joint report on the Media and Entertainment (M&E) sector by global consultancy firm EY and industry body FICCI had revealed a contraction of almost 24% at ₹ 1.38 lakh crore in the pandemic-struck 2020, reported The Economic Times. However, an analysis of the shortfall revealed that digital and online gaming sectors grew in 2020, adding an aggregate of Rs 2,600 crore. Consequently, they contributed 23% to the M&E sector in 2020, increasing from 16% in 2019.
Another industry that has grown during the pandemic has been the export industry. A report also mentioned that merchandise export increased to $34.5 billion in March 2021, showing a rise of above 60% over exports in March 2020, with 28 of the 30 sectors revealing significant growth.