Glitter of IT Jobs fading?
September 09, 2010             Category : Careers & Training

With reduced salary and tight bonus in order to stand the global recession last year, large number of IT professionals are now shifting their base to manufacturing and banking sector, which became be a hard hit for the software companies to find talented employees.

 

Usually the trend of graduates and professionals was movement from one IT firm to another with a hike of 20-30% salary. However, recent trend shows a massive shift from IT sector to another sector by 15-20% over past years, thereby affecting India's $50 billion IT sector.

 

The main reason for this shift is supposed job security that the manufacturing and banking companies provide as compared to other sectors. Rising salary level is another reason.

 

Among those who made the toggle is Amit Bhargava, 29, who gave up his job as business analyst at one of India's top tech firms last month to join a multinational bank's technology centre in Pune. "The technology sector has not really lost its sheen" he says, but he wants to build specialist banking skills. "And it is not as prone to export risks," he adds, referring to his new vocation.

 

Another reason for the shift away from IT companies is that they are now visiting college campuses for recruitment only during the eighth semester of the course, giving an opportunity to firms from other sectors to attract the best talent before them.

 

And watching this, Software industry grouping Nasscom asked its members last year to recruit graduating students during their final, eighth semester and not disrupt academic sessions.

 

Because of this churn from IT to banking and manufacturing sector, the competition to recruit engineer graduates has become fiercer.

Infosys Technologies alone campaigns to hire 36,000 employees in March and its chief executive S Gopalakrishnan considers the competition for talent as the industry's top challenge.

 

 

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