Software companies only offering 18-22% hikes to job jumpers

economictimes.indiatimes.com:

technology workers switching jobs have dropped by nearly half from the previous financial year as top IT exporters reduce intake amid slowing demand for tech services globally. This fiscal, software firms are offering hikes of 18-22% to those jumping jobs, while earlier, such candidates would command an increase of over 40% — even up to 100-120% — in remuneration, according to data from staffing firms accessed by ET.

Revised offer structuring for many roles has seen offer ranges dropping by as high as 35% — 40% over the highs seen in FY2022. After a round of downward budget revisions across roles in FY2023, the current salary ranges in offer are well in the moderated zone with no unusual hikes in play.

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For instance, full stack engineers are witnessing an average of 8%-16% drop to getting Rs 12 — 28 Lakh per annum this year as compared with Rs 15 — 32 Lakh per annum in FY22.

Of-course outlier offers and negotiations with higher hike percentages do exist, but these are too few and far apart. Here's a look at the top roles in demand and how much they were fetching earlier and how much are fetching currently.