In the upcoming fiscal year, there will be a strong need for niche IT talents, according to a survey. These technologicalp abilities include blockchain development, cloud computing, robotic process automation (RPA), artificial intelligence, machine learning, and predictive modeling.
According to the India Technology Industry Compensation Benchmarking Survey 2024, which was carried out by NASSCOM and Deloitte India, technological improvements have created new job opportunities and raised demand for developing talents, especially those related to artificial intelligence.
“Organisations are now willing to pay higher premiums for niche skills compared to previous years. Premium for AI/ML increased to 30-35% this year,” said the survey, adding that core skills such as visualisation, risk modelling, data science, and SEO continue to command a premium.
According to the report, which also discusses attrition rates, the average percentage of employees quitting a firm dropped from 19% in 2023 to 14.9% in 2024.
The average pay increases for FY2025 are predicted to be 8.5% for the IT sector and 8.1% for the business process management (BPM) sector, despite the fact that they fell this year to an industry average of 8.6% and 8.1%, respectively.
Additionally, it stated that bonuses are expected to decrease in FY2025, averaging between 14 and 16 percent, with variances depending on management levels. With compensation ranging from 1.6x to 1.8x those of typical performance, high-performing employees continue to get excessive rewards, the report continued.
The survey also discusses the ongoing decline in women’s representation at all levels and in all roles.
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