The average salary in the Indian software industry grew by 11 per cent in 2007, compared to a three per cent dip last year, an annual survey conducted by a leading industry analyst said today.
The average Rs 6.2 lakh per annum salary was significant, considering the 30-40 per cent annual incrase in the talent pool of the top 50 companies, a nation wide survey by IDC India for Cybermedia's flagship publication Dataquest said.
Software R&D firms Cadence, Sun Microsystems and Honeywell Tech were rated the highest paymasters, while seven multinational companies, including IBM, Capgemini and CSC found place among the top 10 firms.
A typical Indian software professional got an average salary increase of 18.7 per cent increase in 2007, an improvement over the 18.3 increase recorded last year.
The survey, which covered 2,806 IT professionals in 31 companies, did not find big disparities in salary levels in IT services players, R & D centres of software vendors, MNCs, hardware players and systems integrators and resellers.
It found that there is virtually no correlation between ‘salary levels’ and ‘satisfaction with salary’.
HCL infosystems was way down at No 23 in salary rank, but it has topped the charts on employee satisfaction with salary.
While TCS employees ranked their company at No.4 in terms of ‘satisfaction with salary, it was ranked at No.13 in terms of salary. Infosys was ranked at no 12 in terms of salary but No.28 in terms of 'satisfaction with salary’.
According to Dataquest Chief Editor Prasanto Kumar Roy, the sheer ‘extent of disconnect’ in salary and ‘satisfaction with
Salary’ was amazing. There has been less than 8 per cent correlation between both, he said.
The survey found that professionals with less than five years of work experience form 70 per cent of the 1.6 million strong Indian software work force.
Just one out of five professionals has between five to 10 years of experience and less than one in 10 professionals has over 10 years experience.
While Cadence and Sun are the top paymasters for all employees with up to 10 years of experience, industry bellwether Infosys is more generous towards its senior and experienced employees. Infosys is one of the best paymasters for professionals between 10-15 years and more that 15 years of experience.
Forty per cent of the professionals who were polled for this survey had obtained their qualifying degrees from the South Indian states of Tamil Nadu. Andhra Pradesh, Karnataka, Kerala and Pondicherry.
Those qualified from western Indian States of Maharashtra, Gujarat and Goa made up about 20 per cent of the professionals. Educational Institutes from New Delhi contribute 6.5 per cent of the professionals.
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