VARINDIA IT MAGAZINE

Hiring in the Indian IT sector witness a strong momentum:  Hiring into technology companies touches all-time high in July and August and it will continue up to end of 2021. Witnessing a 20 per cent sequential increase, indicating a strong revival of economic growth and a recovery of business from the impact of   Covid-19 , Jefferies sees a strong hiring boom on account of the post-pandemic rush for the outsourcing of   IT jobs to India .   According to the report, as businesses continued to ride the wave of digitisation, the IT-software and software services sector maintained its growth momentum with an 18 per cent increase .   The top five IT companies, representing about 30% of the 44 lakh employed in Indian IT and  BPO industry , hired 55,000 in the first quarter of the ongoing fiscal. They could end the year with 1.3-1.5 lakh net hires, nearly 50% higher than the best year in the last decade.... Read More

Monster has launched the ‘Monster Salary Index’ aimed at successfully empowering jobseekers with a benchmarking to compare their salaries with other anonymous profiles across a broad spectrum of industry domains, experience, functional groups both in India and other global markets. For employers, MSI is an online salary survey that aims to provide employers with practical information and helps them make informed decisions by analyzing the salary market and optimizing employee remuneration.  Analysing the trends of the Indian market, the report shows that with a median gross salary of Rs 291.0, finance is the second most lucrative sector. Employees in this field are highly educated, and for these it reflects in their salaries with an average of Rs 300 per hour. Overall the Monster Salary Index shows the following median salary trend across sectors in India. Focussing on other sectors, the report reflects that the median salary gap between the highest paying industry and th...

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE   The India Ratings and Research firm (Ind-Ra)  has released a report on the Indian IT services industry revealing that the outlook of  IT companies is expected to remain stable in H213 . The research firm expects revenue growth of select IT companies to exceed 10% YoY in H213 on 6%-7% rupee deterioration in Q213 as against 8% YoY revenue growth in the last four quarters. Ind-Ra also believes the US dollar appreciation will ease the expected pressure on EBITDA margins due to wage inflation for companies with a higher proportion of (India-based) offshore revenue. The weak rupee will help revenue growth, as the effect of translation increases the ability of IT companies to price better than global rivals. It will also make  India-based IT service companies  competitive and increase their chances of winning new and renewal contracts. While the current forex rate trend is positive for the IT sector, managing for...