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IT sector consultants said that the conversation for FY25 is still heavily focused on more dilution of the bench, increasing automation, improving efficiency and targeted hiring mostly in niche areas such as AI and GenAI amid continued macroeconomic uncertainty and hardly any signals of demand recovery yet.
India Business News: The once notable average salary growth has come down from the range of 50-100% to a more modest 35-40% for “hot skill” sets.
Salary increases for tech recruits have decreased by more than half in the past year due to a hiring slowdown across the tech industry. Companies are no longer desperate to hire candidates with high-end niche tech skills at any cost. Average salary increases have fallen to 35-40% from 50-100% for roles such as full-stack engineers, data engineers, front-end engineers, SRE/DevOps, data scientists, and back-end engineers. This marks a significant slowdown from a year ago when candidates had multiple competing job offers.
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