I am seeing lot of people getting offers from service companies like 25+lpa with just 5 years of experience.

How are service companies able to offer huge salaries nowadays? Earlier companies like infosys, tcs,wipro etc never offered this kind of salaries. Even if you were hardcore developer , Just for 50% hike HR of some service companies used to cry and reject candidates saying 30% hike is standard.

Is it because of high attrition or is the salary in service companies will be changed forever.

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When I got an offer probably 12+ with 3.4 yrs exp..my mom said..itna to milna hi chahiye...petrol ka bhav 114 hogya hai..sabjiya ka bhav kitna bad gaya...sab cheezo ka dam itna bad ra hai to pet chalane k liye itna to company ko dena hi chaiye😂

likefunnysmart

Top service based companies formed a cartel to keep salaries of engineers low. USD is touching record high (1USD - 75₹), service based companies continued to pay low. Post covid, things changed, international product based companies are hiring locally in India instead of outsourcing their work to service based companies, they are not even setting up their offices here. Indian startups too are receiving crazy amount of funding. All these things have forced service based companies to cut down their profit margins.

likesmartuplifting

This is not a possibility this is the truth. Now every company wants an it wings so demand increase and many of the Indians now holding very high position in many foreign companies so they know if they can open an office here they will save much money. WITCH companies are now forced to increase salary

likeuplifting

Not everyone is getting 25 LPA.

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🥺

Because nowdays resources are less and vacancy are lot. And startup and freelancing is creating a dent on their cartel

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Brother they are not paying this crazy salary for everyone. I am 11 years exp and offered 28 LPA and they are telling so many stories to go beyond this. It's all bcoz of my current compensation at so called Top Bank. So in short you have to have a good current CTC

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You don’t have to have a good CTC. Only companies who try to lowball a candidate offer less CTC. The market is at an all time high and demand is through the roof. I’ve been getting at least 150% hike because of the tech I’m in and companies are competing against each other ti give the best offers possible. If you have a counter offer, they will reveal the true budget for the role on hand. If you don’t have another offer, you’ll hear usual ‘according to market standards’ bullshit from them.

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Another point that I see missing here is that the revenue and profit growth that all IT companies have seen in the last one year. Moreover listen to the management commmentary and guidance given by the companies for the next year or so. Thier is still lot of topline and bottomline growth left. And this is true for companies of all sizes.
Infosys, TCS, Accenture, Wipro all are earning good and hence have bigger pockets now. This makes them capable of giving better compensation. Demand for IT has increased a lot during COVID times. This is probably one of the times where the demand to supply ratio is highest in a decade. This in turn is leading to high attrition and a blind hoard to consistently trying to retain talent, the companies have automatically moved to being better in term of compensation.

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Not in a decade I believe this is the first time we are seeing this kind of demand. Byas kisi ki nazar na lageh

funnylike

Maybe

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I guess now they are getting lots of projects on digital technologies. Even small companies are also getting it but there is a huge resource crunch and many peoples are not joining as they have multiple offers so they are offering more. If you can join immediately then they will give you this much hike

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I have 9 YOE and was offered Max 30% increase after clearing an interview of a service based company... Was offered 15 lakhs including variable in the end...

24+ is not for everyone

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ek offer pe dusra offer lo.. I’m on the same boat, and after a bit struggle, I was able to get through this.. Be very confident in asking for more salary, let them know they need you more than you need them, which is of course the truth... Don’t just keep studying, studying and studying, watch videos and read more about salary negotiations with the HR
It worked for me and I hope it’ll work for you as well..
All the best!!

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