31.1 C
Delhi
Tuesday, October 8, 2024
Home > Salary + CompensationThe IT Salary Trends: What’s Driving Growth in 2024? 

The IT Salary Trends: What’s Driving Growth in 2024? 

The IT industry continues to be one of the most dynamic sectors in India for August showing a remarkable 23% year-on-year growth in hiring. With increasing digitisation, the demand for skilled professionals is soaring, particularly in software development, data science, and DevOps roles.  

In this short blog, we’ll dive deep into the salary trends for key IT roles, highlight the impact of Global Capability Centres (GCCs), and explore how this landscape offers lucrative opportunities for both freshers and seasoned professionals. 

Why is IT Hiring Growing? 

The demand for IT professionals in India is driven by multiple factors: 

  • Digital transformation: Businesses across industries are adopting new technologies, automating processes, and moving to the cloud, which creates a massive need for skilled IT workers. 
  • AI and data-driven innovations: Companies are leveraging artificial intelligence and big data to stay competitive, further boosting the demand for data science and analytics professionals. 
  • Expansion of Global Capability Centres (GCCs): GCCs, which are hubs set up by multinational companies for various functions including IT, account for 62% of the IT sector’s hiring. Cities like Bengaluru, Chennai, and Chandigarh lead this charge, making them hotbeds for career opportunities. 

With this backdrop, let’s take a closer look at salary trends for major IT roles across experience levels. 

IT Salary Trends for Key Roles in 2024 

Whether you’re just starting out or have over 15 years of experience, the IT sector offers attractive salary packages. Below is a comprehensive breakdown of average salaries for key IT roles, illustrating both the starting and top-end salary brackets depending on experience. 

Role Experience (Years) Average Min Salary (₹) Average Max Salary (₹) 
Software Development 0-3 5,44,005 9,83,544 
 4-6 11,64,164 19,20,823 
 7-9 16,40,852 25,44,484 
 10-15 22,02,393 34,64,073 
 Above 15 25,42,857 54,64,286 
Data Science & Analytics 0-3 6,56,459 11,39,090 
 4-6 12,95,177 20,92,882 
 7-9 18,53,005 28,71,130 
 10-15 24,89,935 33,28,734 
 Above 15 34,80,000 50,50,000 
IT Consulting 0-3 6,06,656 11,19,288 
 4-6 10,74,608 18,33,059 
 7-9 14,93,858 23,97,779 
 10-15 19,82,932 30,10,617 
 Above 15 28,33,333 35,00,000 
DevOps 0-3 6,16,614 10,92,293 
 4-6 12,22,088 19,71,653 
 7-9 17,20,820 26,82,143 
 10-15 22,65,850 33,10,621 
 Above 15 39,00,000 51,00,000 
Data Warehousing 0-3 6,18,182 10,86,364 
 4-6 12,84,286 20,83,143 
 7-9 17,00,000 27,57,143 
 10-15 22,50,000 32,25,000 

Freshers vs. Experienced Professionals: What’s the Difference? 

While freshers with 0-3 years of experience can expect competitive starting salaries ranging from ₹5.4 lakh to ₹6.6 lakh annually in software development and data science roles, experienced professionals are being offered significantly higher pay.  

Professionals with over 15 years of experience in software development, for instance, command annual salaries as high as ₹54.6 lakh, illustrating how lucrative the sector is for those who build a strong career in IT. 

In DevOps, a role crucial to managing and automating IT operations, salaries for those with over 10 years of experience can range between ₹22.6 lakh to ₹51 lakh per annum, showcasing a clear progression for those who master these skills over time. 

IT Consulting and Data Warehousing: High-Growth Areas 

IT consulting and data warehousing are also seeing strong salary growth. IT consultants with 7-9 years of experience earn between ₹14.9 lakh and ₹23.9 lakh, while those with over 15 years can earn up to ₹35 lakh annually.  

Similarly, data warehousing professionals, who ensure seamless data management and accessibility for organisations, enjoy top-end salaries of ₹32.2 lakh for experienced individuals with over 10 years in the field. 

Why Should You Care? 

The numbers show that the IT sector not only offers excellent growth potential but also provides highly competitive salaries that increase sharply with experience. The expansion of GCCs in major cities is set to fuel even more job creation, making this a prime time for IT professionals to explore new career opportunities. 

Whether you’re a fresher eager to start your career or a seasoned professional looking to elevate your role, the IT sector’s robust growth trajectory and generous salary packages make it a highly attractive space to be in. 

- Advertisement -spot_img

More articles

spot_img

Latest article

Build resume using templates

Explore urgently hiring jobs

Personalized jobs for you