IT companies offering up to 120% salary hikes to these professionals: Report

Covid-19 brought with it calamity on health and economic front, as well as troubles for the corporate sector. Companies had to cut down their workforce substantially during the pandemic. But things are changing for the better as companies get ready to go on a hiring spree, specially information technology companies.

When the pandemic broke out, recruiters adopted a wait and watch approach in the face of uncertain conditions. Right before the peak of the first wave of Covid-19 infections, hiring had decline 50 per cent. With the rise in technical transformation of every sector, necessitated by the work-from-home model during the lockdowns, pre-Covid trends in hiring are returning.

The demand for IT professionals has grown 400 per cent, said job search portal Indeed India in a report analysing the impact of Covid-19 pandemic on India's job market. The demand for skilled technical professionals including Application Developer, Lead Consultant, Salesforce Developer and Site Reliability Engineer grew 150-300 per cent between January 2020 and February 2021, becoming the top sought after roles.

Apart from adding new talent to their workforce, companies are also offering higher salaries to in comparison to the previous year. As per the Indeed India report, IT companies are offering salary hike in the range of 70-120 per cent to full-stack engineers. In earlier years, salary hike ranged between 20-30 per cent.

Apart from salary hikes, Indian IT majors Tata Consultancy Services (TCS), Wipro and Infosys are planning to hire aggressively across India. TCS recently announced its biggest recruitment drive for women professionals looking for job opportunities after a gap.

“Talent and potential will always remain, and rebegin is an opportunity for talented experienced women professionals to inspire, reinvent and challenge themselves to make a mark,” TCS had said.

The wage bill of the entire IT sector is expected to go up by $1.6-1.7 billion in FY22.