60 lakhs for 10 years of experience 😱😱 - YP Buzz

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                     At a time when most employees are fighting for wage cuts and job losses, those in the software industry are facing a completely different problem. Rising technology wages in India have made recruitment difficult even for international players in the country.

                                     
IT Industry

Many players around the world who are looking for high-quality talent at a low salary in India find it difficult to do so due to rising wages. According to a report in the Economic Times, many companies are renewing their budgets to accommodate changes in the IT market.


In some cases, salaries as high as Rs 50-60 lakh or $ 70,000- $ 80,000 for a person with 10 years of experience. This makes the global corporations (GICs) of companies in India less competitive with a scary perspective, said Vinu Nair, head of Antal India's partner, who works with international companies in their recruitment programs in India.


Vikram Ahuja, founder of Talent500 told ET that companies are offering a 50% -100% increase in top talent. This sudden explosion of pay will make India less attractive to international players who are drawn here to cheaper workers. India continues to remain a hotbed of global employer's employment but the recent rise in wage packages has caused many to reevaluate their growing regional dependence, Ahuja added.


International companies seem to be limiting their location for talent in India and other regions. Poland, Vietnam, the Philippines and Ukraine are rising rapidly as other hiring IT companies around the world.


Experts say that there is a shortage of talented people globally, leading to higher wages. This is happening all over the world and is not true in India, said Prasad Mandava, managing director and vice-president - engineering speaker for Akamai India cloud delivery.


Although Eastern Europe comes as an attractive destination for employers, India has the first largest foreign exchange earnings in the sector. Also, local talent's English language skills make them more selective than other hiring positions.


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