Techies can start looking forward to 2011 with the salary increment season

Bangalore: The techies can start looking forward to 2011 with the salary increment season set to kick off in style for them. During the slowdown years this sector had experienced single digit pay increase and, sometimes, deductions in salaries. However, in this financial year they might receive double digit pay hikes.

In recent times the world has seen an increase in demand for IT services and levels of customer confidence have gone up as well. Media research has revealed that the hikes could fall in the 12 to 15% range. Professionals for specialized areas such as product space can expect 20% increment this time around.

Salaries and stipends being given to freshers has already gone up by 10-15% in comparison to 2010. In 2011 the number of campus interviews and recruitment exercises to be done in top colleges and universities would go up by 15 to 20%.

According to recruiters the leading tech companies such as TCS, HCL, Wipro, Cognizant and Infosys are expected to increase their pay packets by 10 to 15% on an average in 2011. Infosys is expected to increase their salaries in June and it is assumed to be in the 10 to 15% category.

The appraisal process in Wipro has started and as per e-mails sent to employees the whole procedure would get over by May. The company would announce the hikes during June-July and they would be implemented from the 1st of June. In 2010 the salaries were raised by 8 to 12% but in 2011 this would go up to 12 to 15%.

Senior professionals in the information technology industry have revealed that the sector has improved in a substantial manner. According to C Mahalingam the senior HR head and VP with Symphony Services, with improving markets customer rates have gone better as well. He has predicted better times ahead for the IT industry.

Roy Joseph, who heads the HR in Mahindra & Mahindra's technology product development and sourcing wing, has cited the unexpected recovery of Indian economy as one of the major reasons behind the growth of the IT sector.

He states that this situation means that companies now need to retain their best talent as the supply is a limited one. He mentioned that one way to keep the best employees in a company is the financial aspect.

Mahalingam states that IT professionals with experience of 3 to 8 years are highly sought after. The increased amount of business has left the companies with no time to train freshers. Increments are however, supposed to be lesser than in years before the global economic slowdown.

With the slow recoveries in markets across the West the companies are rather cautious. The situation in West Asia and Japan has also contributed to their mindset. It is expected that the salary hikes in 2011 would reflect their cautious outlook.
source:agency
Tags : India Business News, India IT Sector, IT Sector Salary Increment 2011, IT Sector Slowdown, IT Sector Salaries Deductions, IT Sector Pay Hikes 2011