News from the IT sector: the salary does not increase! First-year students are worried about the IT sector! – Freshmen are paid less in this sector, as reported by a popular media
News from the IT sector: the salary does not increase! First-year students are worried about the IT sector! – Freshmen are paid less in this sector, as reported by a popular media
The growth of IT companies in the country has been enormous over the past five years. While most sectors in the country were reeling during the Covid pandemic, the IT sector saw massive growth. The point can be illustrated with an example. The country’s largest IT company, Tata Consultancy Service (TCS), has been recognized as the second largest resource company in the world during the Covid pandemic. Infosys is in second place.
Read more: Resignations are increasing, TCS-Infosys is worried about employees!
As a result of this massive IT business boom, employee salaries have also increased. However, according to the media, the increase is insignificant. In fact, the TCS salary increase this year is 6-8%. The annual salary increase is not much. Apart from this, for fear of financial recession, many organizations have put a rage on Total Variable Pay or performance based bonus for employees. Workers are under some pressure.
But it’s not just an image from a particular year. According to the media, this is the image of the IT sector over the past 10 years. With an example, according to the media, a company in 2012 paid a salary of 2.45 lakhs to a student. In contrast, after 10 years in 2022, the salary of the same organization stands at 3.36 lakhs. That is 40% growth in 10 years. The annual growth rate is 4%. We raise our fingers on this slow growth of the IT sector. With the way inflation is rising in the country, doubts have already surfaced as to the extent to which this increase can meet workers’ demands.
Read more:More than one job grows in the IT organization? What TCS says to Tech Mahindra
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