Information Technology and Startups set for big hiring in 2019
The Information Technology services sector along with the upcoming startups in India, is set to hire nearly five lakh persons in 2019.
Huge demand for professionals
Presently, there is a huge demand for fresh professionals. For the past seven years, there was stagnation in salaries. In 2018 Entry level packages, went up by 20 percent. Also there is growth in the IT services industry. In 2018, the H1B visa situation became tough. India started to focus on Japan, Europe and Southeast Asia.
Additionally, there was an enormous expansion of captives and buy-backs. Hyderabad became warm for many modern companies. It was the result of good infrastructure, and fine marketing by the IT Minister in Telangana. India now intends to expand in Asian markets vigorously.
Stress on Re-skilling
Furthermore, there is a stress on Re-skilling of IT services employees. 50% the professionals were re-skilled in the Indian IT companies. Digital income is also on the growth path and Hiring has also increased in a big way. Moreover, the compensation for fresh persons is growing, after a big gap. The annual package at Entry level is 4.5 lakh to 5 lakh.
Presently, there are many features in the success story. These are great use of AI and machine learning, thrust on digitization, big spending by Banking, Insurance and Financial Services, in USA, which serve as growth opportunities for IT companies in India.
Indian IT Companies
The challenge for Indian IT Companies is localization in USA. In many local areas, the cost does not increase, owing to being in small towns. Presently, there are 39,000 Indian Start-ups which totally have 600,000 employees. In 2019, the startups will hire around 200,000 professionals. Their hiring involves all type of people.
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