From: Baroni Limited [Baroni-Limited@tiscali.it]
Sent: 18 September 2007 19:43
Subject: Baroni Limited - Offshoring Newsletter' - 27/07
Sensitivity: Confidential
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Best paymasters in Indian IT sector are R&D firms According to a recent study conducted by technology research firm IDC India Ltd for Dataquest magazine, multinational firms in the R&D business pay the highest salaries in the Indian IT industry. Cadence Design Systems (India) Pvt. Ltd, Sun Microsystems India Pvt. Ltd, and Honeywell Technology Solutions Lab Pvt. Ltd. are the top three paymaster which hire people largely for R&D work in India. The study also found that foreign IT firms such as IBM India Pvt. Ltd, Capgemini Consulting India Pvt. Ltd and Computer Sciences Corporation India Pvt. Ltd pay higher salaries than their Indian counterparts. According to the study, the average salary hike received by software professionals in 2007 was 18.7% compared with 18.3% in 2006; the survey polled 2,806 professionals in 31 software companies. The industry wide average salary grew by 11% to touch 620,000 rupees per year--notwithstanding the steady entry of recent university graduates at the low end of the scale--compared to a drop of 3% in 2006. This average salary increase is considered significant because large IT firms have been hiring a large number of people at the entry-level. 'It is generally expected that, with the on-campus recruitment of thousands of fresher’s, the average salaries should go down,' says Shailendra Gupta, senior manager, research, IDC India. What comes as good news for Indian companies battling against the appreciating Indian currency against the dollar, eating into revenues from the all-important North American market, is that there's a disconnect between salary levels and employees’ satisfaction with them. Cadence, that ranks No.1 in terms of salary, comes in at No.10 in terms of satisfaction of employees with salaries. And HCL Infosystems Ltd, that ranks No.1 in terms of satisfaction of employees with salaries, ranks No.23 in terms of salaries. 'We knew that high salary didn’t always mean high satisfaction, but the sheer extent of disconnect is amazing. There was less than 8% correlation between salary and satisfaction with salary,' says Prasanto Kumar Roy, chief editor, Dataquest. Employees at Tata Consultancy Services rank the company fourth in terms of satisfaction with salary, while the company comes out at 13th in the salary rankings. It’s a different story at Infosys, which is ranked 12th in terms of salary but is at No. 28 in terms of employee satisfaction. In an industry where attrition rates are very high because there are so many options for software professionals, Infosys loosens the purse strings more for senior employees. It is one of the leading paymasters for professionals with between 10 and 15 or more years of experience. The report says increasing employee satisfaction is important to ensure that workers don’t jump ship. But with companies like Wipro are looking at formalizing six-day workweeks instead of the present five-day routine, that is going to be a tough goal to attain. Professionals with less than five years’ work experience account for 70% of the 1.6 million-strong software workforce, the study says. Only one out of five professionals has between five and 10 years of experience and less than one in 10 professionals has more than 10 years of experience. The average age of tech employees is 28.1 years, and lack of experience is a key challenge at middle management levels. |
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Top Stories |
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Lincs
Council signs £175m IT services contract with Capita Aviva
defers taking back BOT contracts USDA picks Accenture to
modernize financial systems Nationwide
outsources credit card processing and customer services Siemens
wins Turkey’s biggest-ever public sector IT contract Brocade
and Ness Form Strategic Alliance in File Management Business |
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Service Provider News |
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Accenture inks Microsoft as BPO
customer Capgemini
to Provide IT Services for Google Apps TeleTech
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Increase Wipro
Tech. to set up global development centre in MexicoWipro Tech. to set up
global development centre in MexicoWipro Tech. to set up development centre
in Mexico Fiserv
announces global delivery centre in Costa Rica |
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