GCCs to boost salaries of entry-level workforce in India across key sectors
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The Global Capability Centers (GCCs) is expected to increase demand for fresh talent in India as well as boost the salaries for entry-level job roles across key functional areas in IT products and services and non-tech sectors in FY 2024-25, according to a report on Thursday.
The report by TeamLease Digital provides a glimpse into how the financial year will shape up for the burgeoning workforce in India.
The report showed that the software development and engineering domain is poised to offer lucrative opportunities with increasing demand for AI/ML skills in software development sector.
As a result, entry-level positions in this domain are expected to see an average salary of Rs 9.37 LPA in GCCs, followed by Rs 6.23 LPA in IT Products and Services, and Rs 6 LPA in non-tech sectors by the end of FY 2024-25.
In the cybersecurity and network administration domain, GCCs are expected to lead with an average salary of Rs 9.57 LPA -- 40.12 per cent higher than IT professionals. This showcases the critical need for expertise in identifying vulnerabilities and mitigating risk exposure, while IT products and services may offer Rs 6.83 LPA, and non-tech sectors Rs 5.17 LPA.
The data management and analytics domain, which includes collecting, storing, and analysing data to support decision-making, is projected to see average salaries of Rs 8.73 LPA in GCCs, Rs 7.07 LPA in IT products and services, and Rs 6.37 LPA in non-tech sectors, in FY 2024-25.
“India's entry-level job market is witnessing dynamic changes, as highlighted by our data for FY2024-25. While IT Services have seen a slowdown in fresher and entry-level hiring over the last 2-3 years, it is the GCCs and non-tech sectors that have emerged as the torchbearers for welcoming young talent and offering rich opportunities,” said Neeti Sharma, CEO, TeamLease Digital.
“GCCs are expected to lead the way, offering premium salaries, particularly in roles like penetration testing and data science, with average packages reaching Rs 11.8 LPA. This surge can be attributed to the rapid expansion of GCCs in India employing more than 1.66 million people and their need to maintain global standards,” she added.
Further, 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 LPA in GCCs, and Rs 6.07 LPA in IT Products and Services.
The non-tech industry is also poised to offer an average salary of Rs 6.53 LPA for cloud solution roles, approximately 8 per cent higher than the IT sector, driven by the strong adoption of cloud technology across key sectors like BFSI, healthcare, and manufacturing.
