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Companies Rely more on Indian professionals; Hire with High Package

Wednesday, 02 December 2020, 18:58 IST
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Indian workforce is most sought after across the globe for their skills and dedication towards the work. This has indeed raised an Indian candidate's demand on the global front. It is been noted that many companies prefer Indian employees over others and are ready to pay them even high packages. Some of the Indian IT get the United States project to the Indian IT thus, it is been estimated to have been paid an average compensation of $96,300 to its US employees as of 2018 which is comparatively way to higher than the average salary drawn by a US employee that is approximated to be $94,800, hints the US research firm HIS Markit Research.

However, the Indian IT story has been compelling from the US job-creation standpoint. In 2018, about 1.8 lakh Indian IT employees supported an additional 3.4 lakh jobs across the US economy in America, this includes a total of more than five lakh direct and indirect jobs. According to IHS Markit Research reports the US job opportunities for Indian IT companies have massively escalated at an average annual rate of 3.8 percent from 2016 to 2018 that is way faster as compared to the 2.6 percent on average annual employment growth of the industry which is a part of it.

Keshav Murugesh, Group CEO of WNS Global Services, Chairman Nasscom said, “Traditionally, the feeling is that Indians have taken a lion’s share of visas. But if you look deeper, you will see the bulk of the visas go to MNCs operating from India. The India-based tech firms have not been getting (many) visas. At the (US) administrative level, someone is assuming that what the MNCs are doing needs to be supported, but not the Indian tech companies. All we are saying is, create a level playing field.”

According to sources, it is said that the top seven Indian-based companies have obtained only 2,200 new H-1B petition for as their initial employment in FY2018, which is very less than 2.6 percent of the 85,000 annual employment limit for organizations. Thus, the US has estimated to had a shortage of about 7.5 million STEM talent as of last year. Therefore, many are in the US tech industry feel immigration is the only way to deal with it.

However, the real talent is here. In the US, you will find only Andhra villages with duplicate degrees who can barely speak English that suffer from inferiority complex. Murugesh Indian IT employee has shown flexibility, incredible maturity, and higher confidence in how it invests ahead of the curve in what it thinks continues to be demand enhancers for the long-term growth of the industry.

He said, “That augurs extremely well for India. The focus on skilling is not intending to be defensive but want to be aggressive and batting on the front foot. India can emerge as the data refinery of the world. It’s a synergistic relationship that can be carved out between the two countries from a tech standpoint.”

IHS Markit Research’s data hints that in 2017, the Indian IT companies have added $57.2 billion to the US GDP. This is a number higher as compared to the GDP of other US states. However, they have paid $16.3 billion as salary to the US employees, and many went back to the local communities. Additionally, for every $1 million investment done by these companies in America through the acquisition of technology, equipment, and facilities, $1.2 million was added to the US GDP says the IHS report.

Thus, the demand for Indian IT employees is higher as compared to other country professionals. The opportunity for Indian students is pretty higher and opens great job opportunities overseas.