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IT Sector - An Overview

Career Prospects
The Indian IT sector is growing rapidly and it has already made its presence felt in all parts of the world. IT has a major role in strengthening the economic and technical foundations of India. Indian professionals are setting up examples of their proficiency in IT, in India as well as abroad.

The sector can be classified into 4 broad categories - IT Services, Engineering Services, ITES-BPO Services, E Business

IT Services can further be categorized into Information Services (IS) outsourcing, packaged software support and installation, systems integration, processing services, hardware support and installation and IT training and education.

Engineering Services include Industrial Design, Mechanical Design, Electronic System Design (including Chip/Board and Embedded Software Design), Design Validation Testing , Industrialization and Prototyping.

IT Enabled Services are services that use telecom networks or the Internet. For example, Remote Maintenance, Back Office Operations, Data Processing, Call Centers, Business Process Outsourcing, etc.

E Business (electronic business) is carrying out business on the Internet; it includes buying and selling, serving customers and collaborating with business partners.

Major Trends

Trends in Hiring

The bar chart shows that the recruitment of engineers and IT professionals in the industry is growing at the Compound Annual Rate of 14.5% approximately.

In the FY06, the direct employment in the IT-ITES sector was 1.3 million people and the indirect employment was 3 million approximately.

Trends in Salary Hikes

Along with abundant growth opportunities, IT sector is one of the highest paying sectors. The average increase in salary in IT sector across the levels was around 16% and the average increase in the ITeS BPO sector across the levels was in between 16%-18% Requisites for balanced salaries -

End to poaching

Review of compensation according to the skills

Developing talent in-house

Entry of talented freshers in the industry

IT: Success Factors

Increasing number of skilled professionals in IT.

The demographic factor. Approximately 60% of the population of India lies in the age group of 15-65. More than half of the population of India is below the age of 25. So in the future, the number of working people is going to be more than the number of dependants.

The vast academic infrastructure of India. In the year 2006, Total Enrollment in colleges was 9.3 million and India produced 441,000 Technical graduates.

India has the second largest English-speaking workforce in the world.

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IT Sector - An Overview