4 ms·
One of the ways this is very evident is when you look at entry level software dev salaries at the giant IT sweatshops (Infosys, TCS, Wipro etc). 2010: ₹325k a
by potamic 2y ago
One of the ways this is very evident is when you look at entry level software dev salaries at the giant IT sweatshops (Infosys, TCS, Wipro etc).
2010: ₹325k a year (equivalent to then $7000 per year)
2025: ₹350k a year (equivalent to now $4000 per year)
Even disregarding the global earning parity, that's only a rise of 10% over 15 years when inflation has risen by 100% in the same period. This is even more egregious when you consider that these companies earn primarily in dollars have enjoyed massive profits owing to depreciation of the Rupee.
These companies were once highly regarded for their earning potential. They moved a generation of employees from the lower income to the middle income bracket. Sadly, the same cannot be said of employees joining today, who haven't even seen their comps increased since the pandemic. They seem to be getting forever stuck in the lower income trap.
Hiring has already drastically reduced since the pandemic recession and now there's the threat of AI. At the same time, record numbers of CSE students are graduating out of universities each year, who are increasingly struggling to find employment. The country's service industry which once formed the backbone for the middle class is in a very critical stage. The future doesn't look very bright honestly.
- m00x 2y agoWith such low pay to compete with, it's ideal for startups.
- presentation 2y agoMy friend doing B2B SaaS startups in India is very negative on the market since buyers are so penny pinching - sounds like the way is to build there but sell elsewhere.
- roncesvalles 2y agoI think the Indian business mindset still hasn't adapted to Western-style capitalism (derisk your personal wealth, throw a lot of money, go big or go bust) and entrepreneurs spend very cautiously which ultimately leads to failed outcomes. You can even see this in the way that big public corporations behave.
- llampx 2y agoEveryone wants something for nothing.
- never_inline 2y agoMost graduates in this country needs to be trained from scratch for any serious programming work, due to how horrible the education system is. So it's not worth for the startups.
- OhtaniSan 2y agoAt my Mumbai startup we get a ton of applicants who have communication skills on par with Koko the Gorilla.
- potamic 2y agoStartups tend to go for top talent because they're trying to grow very fast. It's ideal for small businesses though, but that kind of a market takes time to develop and needs a sizable upper middle class who can afford to bootstrap businesses independently.