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It is not a bubble definitely.
With the emerging startup and product based culture, the monopoly of mncs has been surely hurt.
Providing low salaries with fake promises of work life balance to the employees while selling those services to foreign clients at much higher price was the msp of these organisations.
Globalization and standardization has made it possible for the employees to draw more and more competitive salaries.
Pro
💯
It was definitely long overdue...but I see this as a big bubble, which will soon burst and take away many jobs from the market
I respectfully disagree and do not agree with the bubble story. Higher salaries are here to stay.
With the advent of mass wfh, location is no longer a constraint. Someone sitting in Guwahati can seamlessly join for a Bangalore based role. The talent pool has so much widened.
With onshore opportunities reduced to minimal due to COVID, Indian IT has finally seen through the facade of "onsite". Better salaries and life's luxuries can be enjoyed while staying in India. There is no reason for someone sitting in Europe drawing fatter paychecks than their Indian counterparts while doing the exact same work.
Its a bubble. Demand will decrease and salaries too.
Why do you see the demand decreasing? Could you kindly elaborate.