With a Placement Rate of 93.5% Software Engineers have Witnessed 120% Increase in Salary in 2021-2022

May 02, 2022 03:05 pm | Updated 03:05 pm IST

The majority of the 900 million workforce in India has stopped looking for jobs according to the Centre for Monitoring Indian Economy Pvt., yet the scope for engineers has increased alarmingly. India is going to have 12 million vacancies for engineering jobs in the next 5 years.

During the fiscal year 2021-22, the engineering sector has made smart and reliable operations a top priority. Engineering students have been hired for a wide range of specialized roles that improve project delivery and process performance. There is an increase in 300% of hiring for engineering job roles in 2021-2022.

17% of engineers have been hired in Kolkata, Delhi and Mumbai while 15% of engineers have successfully opted for opportunities offered by the “Silicon Valley of India” - Bangalore.

The World Economic Forum concluded that the top 5 emerging jobs in India include Software Engineers, data analyst, marketing specialist, data scientist, and machine learning engineers.

In India, the IT Sector is very sound, and with the upcoming technical updates and development, the requirement for software engineers are increasing alarmingly. Students who are pursuing IT courses or Software engineering courses are likely to have a booming career trajectory by 2030.

Experience Wise Salary of Software Engineers

According to Tech World Times reports with a global community of more than 26.4 million software developers, software development has become a mainstream career option in India. Furthermore, according to a McKinsey Global report, digital technologies have the potential to create 65 million new jobs in India by 2025. The job profiles which see immense opportunity after an experience of 3 - 5 years are Application Software Developer, System Software Developer, Security Engineers and QA Engineers.

KPMG states that Software Engineers have achieved a growth of 126% in their salary after upskilling through Scaler. As per Campus skill report by coursera, they have 13.6 million registered learners on their platform and the highest demand is for Software Engineering Courses.

Salary of Software Engineers

Currently the US has the highest number of software engineers, while India is in 2nd place with 5.8% Software engineers employed here. Findly.in reported that India will have the largest population of Software developers by 2024.

Through various reliable resources here we have accumulated the salary of software engineers in India as per PayScale.

HIRED has recorded that the demand for Software engineers with GO skill was highest last year. Like the previous year, this year too Full Stack Engineers and Engineers with GO skill are in highest demand.

Related Software Engineering Jobs

Ther Software Engineering Courses offers jobs at various job profiles such as Software Developer, Senior Software Engineers, IT Consultant, Team Leader IT etc. The salary for such job profiles vary between INR 7 Lakh to INR 20 Lakh depending on the experience they have.

Top Recruiters Hiring Software Engineers

Capegemini, Accenture, Cisco, Infosys, TCS are some of the renowned organizations which hire numerous software engineers every year. The salary package that is offered varies between INR 4 Lakh - INR 20 Lakh.

Recruitment firm Xpheno reported that high-skilled workers in the tech space, such as full stack engineers, data scientists, data engineers, and backend engineers, are still in high demand. Newly-funded startups are expected to generate offers ranging from 15% to 120% of the time, depending on the skills and role on offer. The raises offered by incumbent IT service providers and GCCs are expected to be relatively modest, ranging from 5 to 14% for the same skills.

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