According to a survey conducted by tech hiring firm TeamLease Digital, global capacity centers (GCCs) have emerged as key employers of new talent, paying entry-level candidates up to 30% more than the industry standard for in-demand abilities. The trend is expected to continue, with GCCs increasing recruits by 40% year on year. While cautiously optimistic, the IT services sector anticipates a 20-25% rise in new employment, emphasizing the need for competence in software development, data engineering, and cloud technologies.
Meanwhile, mid-level positions remain consistent, with project managers, data scientists, and cybersecurity specialists in great demand. Salaries in these professions have risen by 7.89% to 10.2% during FY 2024, indicating a market demand for individuals with hands-on experience who can effectively manage and optimize business operations.
Senior management positions have seen a stunning 21% growth in demand since last year, owing to the strategic importance of competence in data engineering, product management, and DevOps, with wage increases ranging from 6.54% to 10.8%. The report also discovered that organizations continue to prioritize platform-specific certifications, particularly for AWS and Microsoft Azure. By FY25, India is estimated to require over two million cloud experts to support the rapid adoption of cloud technology across a variety of industries.
However, 63% of tech employees did not upskill last year, emphasizing the critical need to close this skills gap. 73% claimed a lack of time, while 42% identified a lack of managerial assistance as a hurdle to their advancement.
Neeti Sharma, CEO of TeamLease Digital, commented on the findings, saying, “The tech industry is transforming at a rapid pace.” To remain competitive, businesses must match their talent strategy with technological advances, particularly in AI and cloud computing. Investing in upskilling initiatives