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Additional Posts in Salary slab IT industry(India)
Hi fishes, I am working as a Product owner at 11 years of experience and have 24 lpa of CTC. Is it competitive with the market figures of Product owner role in other Product based companies. Netcracker Technology Corp. Hansen Technologies NICE Actimize Siemens Netcracker Technology Corp.
It will increase in coming time. Don’t worry but be ready for upskilling also to get this much salary
Yes same observation. Till few days back YOE * 2 was considered as good salary. Now I see almost everyone posting here as YOE * 4 as salary
Cause it was work from office most of the interviews happened on weekends now people are giving 2 to 3 interviews daily , more time to search for both companies and associates. They get a normal package in the first month of theirs notice period obviously they will look for more and cause companies don't hire on market standard they hire on basis of last offer you have it keep going up. And when everyone does that suddenly it is the norm
Great analysis
Bro I legit read your name as Sperm Verma. Sorry😂
Sperm?
But the fact is that businesses have not grown drastically except for healthcare during covid times. So splurging money on resource hiring must be putting stress on companies revenue. So is this bubble sustainable at all or are we going to see massive job cuts specially for underperforming associates or those who aren't able to justify their big pay cheque? Earlier companies used to retain and upskill underperforming associates
I think people are overpayed
or maybe things have got lot more expensive 🤡🤡🤡🤡
It's all USD to INR
In US/European markets at lot of people have left their tech jobs in COVID and haven't taken any new jobs in tech. So most of the projects are being taken by the Asia-Pacific region company/employees. The salary is low in relatable terms as compared to the US/Europe peers but this paradigm shift was long overdue.
Keep on upskilling yourself and take benefit of opportunity while it lasts.
Rising Star
Remember thwre are always cheap labour in other countries.
I have seen companies trying to build ODC in other 3rd world countries too.
Inflation! Also, why was this question asked?
Well, i joined ibm in may, and i am not those IT dept people.. my client and environment is not very good .. will see if i will stick around
@Sepam Verma, product companies started to poach the candidates from several service based companies, the reason for that was because people in US started to resign and do freelance work, this movement was also called 'the great resignation'. Work from home also contributed greatly for this change in people, they started to realise how good the flexibility is. So product organisations decided to move some projects to India and get the people here from India because of the low costs involved and they also realized that the real reason why we were not working hard was not because we are not talented but because we were just lazy and under paid and we knew the existing salary structures in the US. So the product companies were hiring left and right here in India with some pay increases to fill those roles. So a lot of experienced folks from service based companies were hired into these roles.
Now since the service companies were losing their experienced and star employees they started to give lofty salaries to new hires and get such star employees back.
This is the reason why the pay today reached the levels it has. Current recession is not the primary reason for this because the wages started to increase couple of years ago.
Rising Star
@mothersumi have you seenthier record profits every year like tcs, Infosys..they are not paying fair share and posting record profits every quarter
Hope this is true since I am also trying to sail in this tide :D
Look at the inflation. How the prices of all things have increased in last few years. I think the salary hike is justified.
Demand and supply issue.More demand less supply.Takes time to stabilize
Rising Star
Inflation and people are finally asking their fair share from company's profits
I think irrespective of which country we are in people started self evaluating based on global standards not as per Indian standards, and i believe itshould be done like that only.
India is the country with the highest demographic divident and the fastest growing economy in the world right now..hence the companies trying to make hay while the sun shines.
Spoke with one of senior manager.. his exp says this is due to COVID ... Client is very well aware now that things can be done from home so very less requirement on client side .. and hence they pay well in india to get the same job done from onsite