According to recent research, IT professionals are asking for a 50-70 per cent compensation increase despite the epidemic situation while transferring jobs. The reason for this is that since the beginning of the epidemic, businesses have begun to move digital, which has raised the demand for software services. IT jobs offer a 70% hike.
Skills that are in demand for higher hikes to switch IT jobs in Software and IT Industry
Executives with experience in artificial intelligence, automation, blockchain, cybersecurity, edtech, digital transformation, gaming, health-tech, machine learning, and SaaS are in high demand (Software as a Service). Due to a lack of options, IT workers are not only rejecting many job offers and cherry-picking proposals, but they are also seeking a significant pay increase for changing jobs.
Sangeeta Gupta, Senior Vice-President of NASSCOM, commented on this, saying, “As organisations of all sizes shift to become digital, there is a war for digital talent. The epidemic has hastened this process. “ET Now Digital broke the story.
Hiring In The First Quarter: IT Jobs
According to Tata Consultancy Services (TCS), India’s largest IT firm, the fiscal first-quarter report confirms this. Between April and June of this year, 20,409 new employees joined the company, the most significant overall headcount gained in a quarter ever.
Several other IT services firms, including Capgemini, Genpact, and Publicis Sapient, have announced plans to hire more people in the coming months. Professionals knowledgeable in cloud programming, for example, are in high demand, according to Akhilesh Nair, Genpact’s worldwide hiring leader.
Capgemini, which employs over 125,000 people in India, is hiring in areas such as artificial intelligence, cloud, cybersecurity, data management, edge computing, 5G engineering skills, Java, Microsoft, and Internet of Things solutions, SAP, and Testing and Oracle.
“What began as a hunt for a better career turned into seven employment offers in less than two months. As a result of changing jobs, I obtained a pay raise of more than 90%. I even had to decline the number of job interviews. For individuals seeking a change, the IT job market is currently brimming with opportunities. I believe that now is the best time for IT workers to change careers. “Krishna Mohan is an IT specialist.
Growth In Other Sectors During Pandemic
According to The Economic Times, a joint assessment on the Media and Entertainment (M&E) sector by global consultancy firm EY and industry association FICCI predicted a decline of about 24% to 1.38 lakh crore in the pandemic-stricken 2020. However, a study of the gap found that the digital and online gaming sectors expanded in 2020, contributing Rs 2,600 crore. As a result, they increased their contribution to the M&E industry to 23% in 2020, up from 16% in 2019.
The export sector is another industry that has expanded throughout the pandemic. According to the data, merchandise shipments surged to $34.5 billion in March 2021, increasing more than 60% above March 2020 exports.