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Follow UsNEW DELHI: Salary levels in the Indian IT industry have gone up almost across the board in 2004. With the sole exception of entry-level recruits (0-2 years' experience), all other categories show a significant rise. According to the DQ-IDC India Salary Survey 2004, even with the drop in a fresher's pay, the average salary across the industry grew by 19 percent.
The average salaries of fresh recruits were down 12 percent to Rs 2.6 lakh per annum. The salary survey also revealed that IT companies extended perks and benefits to a larger base of employees in 2004 as opposed to 2003.
The salary survey measures the salary levels and related parameters such as employee satisfaction in the Indian IT industry. According to the survey, Hewlett-Packard India has emerged at the top of the salary scale-but not of satisfaction. There is often a disconnect between salary and satisfaction with salary. Cadence comes in second followed by Philips and the top paymasters in the IT industry in India.
Based on a comprehensive two-phased exercise, the survey captures the 'cost to company' -- employee pay packets including aspects like perks and benefits, reimbursements, and other allowances over and above the monthly salary.
While salaries went up, the satisfaction with salary levels and "salary as the top reason for joining a company" is declining. "Money is not the main motivator any more," said Dataquest group president, Prasanto K Roy. "Companies that are good paymasters have a large chunk of employees dissatisfied, and even dissatisfied with their salaries, and this is a rising trend that we have observed for a few years."
He added that following the market recovery, recruitment was exploding, attrition rising, and satisfaction plummeting.
The Salary Survey 2004 covered the entire spectrum of the Indian IT industry across hardware, software and services companies. Information about the gross emoluments was captured through face-to-face interviews with employees of participating companies.
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