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Fresher workforce may get boost with competitive salaries in FY 2024-25: Report

The increasing demand for AI/ML skills in software development to enhance productivity, accuracy, and innovation is further driving this trend, claimed the report.

Its latest analysis highlights the demand for fresh talent but also outlines the salaries expected to be offered, providing a glimpse into how the financial year will shape up for the burgeoning workforce in India.

Demand for fresh talent and expected salaries to grow in key functional areas in GCCs (Global Capability Centers), IT Products and Services, and Non-Tech sectors for financial year 2024-25, an analysis by TeamLease Digital, an employment agency, claims.

A recent report by TeamLease Digital highlights the demand for fresh talent but also outlines the salaries expected to be offered, providing a glimpse into how the financial year will shape up for the burgeoning workforce in India. The report reveals that software development and engineering domain jobs that focus on coding, designing, and maintaining software applications, are poised to offer lucrative opportunities.

The increasing demand for AI/ML skills in software development to enhance productivity, accuracy, and innovation is further driving this trend, claimed the report, adding that this trend may hike the entry-level positions’ salary to see an average salary of Rs 9.37 lakh per annum in GCCs, followed by Rs 6.23 lakh per annum in IT Products and Services, and Rs 6 lakh per annum in Non-Tech sectors by the end of FY 2024-25.

In the Cybersecurity and Network Administration domain, a critical field ensuring IT infrastructure protection, GCCs are expected to lead with an average salary of Rs 9.57 lakh per annum, which is 40.12 per cent higher than their IT counterparts, showcasing the critical need for expertise in identifying vulnerabilities and mitigating risk exposure, while IT Products and Services may offer Rs 6.83 lakh per annum, and Non-Tech sectors Rs 5.17 lakh per annum.

The Data Management and Analytics domain, which includes collecting, storing and analyzing data to support decision-making, is projected to see average salaries of Rs 8.73 lakh per annum in GCCs, Rs 7.07 lakh per annum in IT Products and Services, and Rs 6.37 lakh per annum in Non-Tech sectors, in FY 2024-25, stated the report.

The domain of Cloud Solutions and Enterprise Applications Management, focusing on scalability and cost-efficiency through cloud platforms and ERP systems, is set to offer entry-level salaries of Rs 7.67 lakh per annum in GCCs, and Rs 6.07 lakh per annum in IT Products and Services.

The Non-Tech industry is poised to offer an average salary of Rs 6.53 lakh per annum for cloud solution roles, approximately 8 per cent higher than the IT sector, driven by the strong adoption of cloud technology across key sectors such as BFSI, Healthcare, and Manufacturing.

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For FY 2024-25, GCCs are prioritising roles such as Penetration Tester, Data Scientist, Full Stack Developer, Software Developer, and Customer Success Specialist, with salaries ranging from Rs 11.8 to Rs 8.8 lakh per annum.

The IT Products and Services sector is seeking Big Data Developers, IT Auditors, RPA Business Analysts, Cloud Security Engineers, and IoT Engineers, offering salaries between Rs 9.7 lakh per annum and Rs 6.9 lakh per annum.

Non-tech sectors are focusing on roles like Data Engineer, SAP ABAP Consultant, Cloud Support Engineer, Cybersecurity Analyst, and Automation Engineer, with salaries between Rs 9.4 Llakh per annum and Rs 6 lakh per annum.