Likely In 2019: Double-Digit Salary Percentage Hikes For IT Professionals; Niche Skills Will Be Highly Rewarded
According to National Association of Software Services Companies (NASSCOM), professionals working in the information technology (IT) industry are expected to receive better annual salary increments this year. More opportunities will also be available in emerging segments like machine learning and robotics, reports Economic Times (ET).
The salary increment for last year (2018) stood at six to eight per cent. “This year would see increments of 8-10 per cent across the IT industry, but talent in niche technologies may get almost double the increments of an average performer,” said Sangeeta Gupta, senior vice-president, NASSCOM.
Also, according to human resources consulting firms like Aon and Mercer, employees with niche skills in areas such as artificial intelligence, cybersecurity and blockchain can expect a salary hike of up to 20 per cent.
Not only salary, but also overall recruitment in the IT industry is expected to witness an upswing. “There was pent-up demand in 2017-18, when most companies were holding on to their hiring plans, but this year, we see hiring picking up across the IT sector,” said Gupta.
Good In 2018, Not So Much In 2019
However, other industry experts take a more grim view of hiring in 2019. Though the Indian IT industry saw a fourfold increase in hiring in 2018 with the top 10 companies in the sector adding 114,390 engineers to their workforce, the highest in the last five years, a hiring spree is not expected to continue in 2019.
“I see the global economy slowing this year, and IT hiring will slow with it. Plus, the emerging IT services models will ultimately require fewer people to support it with smarter automation and the use of platforms," Phil Fersht, CEO of US-based HfS Research, an outsourcing research firm, told Mint.