software outsourcing

A blog related to software development company and offshore software outsourcing

Tuesday, August 29, 2006

Salary raises in Software Development Industry

There is good news for the developers that structure of salary raises in Software Development Industry. It is marked that in majority of the IT Countries, entry level salary packages are raised by some remarkable margins. The majority of the changes are found in the Bangalore city of India. India is considered to be an Offshore Software Outsourcing hub globally. India is globally demanded and has become the hot spot for the best quality and cost-effective software and other IT overseas services. Demands of the local Indian talents and professionals are increasing globally with increasing & rapid growth of Software Development Industry. India is on the top most position for its unique, top quality and cost effective offerings as a part of overseas IT services.

IT brand names of India such as TCS, Wipro, Infosys and many others have decided to raise the salaries of the new entrance-fresher by 10 to 15%. Most of the IT companies have decided to up wages for trainees to whom these companies are to hire through their campus recruitment program. Companies have also started to see some good growth by such announcement. Though, this increment structure will be implemented from the next financial year. Some of the industry analyst predicted that such increment is salary structure might create the threat of the increment of the wages and overall cost of the projects. But it doesn’t seem to be an issue and the popularity and demand of the country is still intact.

Good growth in India for Software Development Industry

The industry experts expect that such increment in the salary would definitely fetch some good growth in India for Software Development Industry. They also anticipate that the growth of the Offshore Software Outsourcing Industry as well as BPO and KPO because of the increment in the salary structure. Though, the increment in the salary structure is expected from the October-December quarter. It is also confirmed by Nasscom that hike in the salary is around 4% to 7% that is marginally ahead of inflation and seems to have positive step. It is announced that hike in the salary will be based on the hierarchy of the management and at different stages of the hierarchy the increment slabs will be different in Software Development Industry. Majority of the IT Development and Outsourcing Companies are hiring fresh graduates and engineers in big numbers.

The main reason behind the hike in the salary structure is, India is leading the Offshore Software Outsourcing Industry globally and demand of the IT professional from India is also on the boom. Along with Software Development services, demand of the country is also on the boom for BPO/call-center services because India possesses one of the biggest English speaking groups of highly educated people. India also has the best infrastructure and communication facilities and services in the country to meet the global challenges for the Software Development services. These are some of the factors that play key role in such salary hike issue.

One thing is sure that India will be able to attract more and more talents through the better salary structure towards the booming IT Industry to meet the global requirements for Software Development.