Chennai: The average salary in the Indian software industry grew by 11% in 2007 compared to a 3% dip last year, an annual survey conducted by a leading industry analyst said on 11 September.
The average Rs6.2 lakh per annum salary was significant, considering the 30-40% annual increase in the talent pool of the top 50 companies, a nation-wide survey by IDC India for Cybermedia’s flagship publication Dataquest said.
Software R&D firms Cadence, Sun Microsystems and Honeywell Tech were rated as the best paymasters, while seven multinational companies, including IBM, Capgemini and CSC, found place among the top 10 firms.
A typical Indian software professional got an average salary increase of 18.7% increase in 2007, an improvement over the 18.3 increase last year.
The survey, which covered 2,806 IT professionals in 31 companies, did not find big disparities in salary levels in IT services players, R&D centres of software vendors, MNCs, hardware players and systems integrators and resellers.
It found that there is virtually no correlation between ‘salary levels´ and ‘satisfaction with salary´.
HCL infosystems was way down at No. 23 in salary rank, but it has topped the charts on employee satisfaction with salary.
While TCS employees ranked their company at No. 4 in terms of ‘satisfaction with salary´, it was ranked at No. 13 in terms of salary. Infosys was ranked at No. 12 in terms of salary but No. 28 in terms of ‘satisfaction with salary´.
Dataquest Chief Editor Prasanto Kumar Roy said, the sheer ‘extent of disconnect´ in salary and ‘satisfaction with salary´ was amazing. There has been less than 8% correlation between both, he said.
The survey found that professionals with less than five years of work experience form 70% of the 1.6 million strong Indian software work force. Just one out of five professionals has between five to 10 years of experience and less than one in 10 professionals has over 10 years of experience.
While Cadence and Sun are the top paymasters for all employees with up to 10 years of experience, industry bellwether Infosys is more generous towards its senior and experienced employees. Infosys is one of the best paymasters for professionals between 10-15 years and more that 15 years of experience.
As much as 40% of the professionals who were polled for this survey had obtained their qualifying degrees from the South Indian states of Tamil Nadu. Andhra Pradesh, Karnataka, Kerala and Pondicherry.
Those qualified from western Indian States of Maharashtra Gujarat and Goa made up about 20 per cent of the professionals Educational Institutes from New Delhi contribute 6.5% of the professionals.