Compensation of IT companies

Monday, October 02, 2006

IT salaries highest in Bangalore: survey

Bangalore, followed by the twin cities of Hyderabad and Secunderabad, lead the way in attracting IT professionals with good pay packets. Gurgaon and Delhi, interestingly trail behind Mumbai and Pune, according to a survey.

The survey studied the average salaries of IT professionals across regions and sectors and also looked at trends in job opportunities and sentiments about impact due to the anti-outsourcing backlash.

The average cost to company (CTC) for Bangalore stood at Rs 6 lakh per annum — the highest in the country, followed by Rs 4.7 lakh in the twin cities of Hyderabad & Secunderabad, along with Pune.

These were some of the findings of the Cyber Media Dice ‘Salary Survey’ conducted by market research agency TNS India. The survey was conducted online among more than three thousand IT professionals who are registered with www.CyberMediaDice.com across 15 cities in India.

The study also noted that for IT professionals, a management background may not hold good against post-graduation with technical background when it comes to earning the big bucks. An engineer armed with a technical masters degree garners annual average CTC of Rs 8.62 lakh per annum while an MBA candidate’s CTC stands at Rs 6.33 lakh per year.

For the Indian IT professional, the booming Indian telecom industry seems like a more attractive option compared to the Indian IT industry, with the average CTC being 6.2 lakh and 5.0 lakh, respectively. Highest compensation for IT professionals can be found in the telecommunications sector, followed by IT and then banking, finance and insurance.

Uncertainty still looms at large when asked about the number of years they wish to spend with their current company, as more than half of the respondents were not sure about their stint with current employer in the future. Less than 10 per cent want to continue for more than three years.

On an average the tech professionals worked for three companies; professionals with more than 6 years of experience worked for on an average 4 different companies. Key motivators for leaving current employer or switching employers were better growth prospects and remuneration.

In spite of India buzzing with opportunities and most IT professionals seem to believe so, two thirds of the respondents ‘would consider’ or were ‘actively exploring’ overseas job opportunities. Those with more than 11 years of experience were among the highest number of professionals who were currently not exploring overseas jobs.

Another fact that has emerged from this survey is that when women tech professionals were quizzed about exploring job opportunities aboard, 44 per cent of the respondents said that they prefer to work here in India as compared to only 28 per cent of their male counterparts.

1 Comments:

Blogger Tejas said...

Any idea where Pune stands in terms of CTC? I hope its third...

10:48 AM  

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