A Guide To Understanding Salary Trends for Global Companies When Hiring Indian Developers

When an organization expands its hiring efforts to a wider geographic scope, ensuring the right salary becomes paramount, especially when looking for a top-tier, A-player talent in the technology and digital fields. 

The dynamics of the job market and compensation is further complicated with economic conditions, the surging demand for specialized skills, and various other factors. As a result, hiring and retaining high-performing individuals have become increasingly challenging. Many employers rely on salary trend reports to gain deeper insights into these challenges and the ever-evolving landscape of different industries. These reports serve as valuable resources, providing comprehensive information and analysis to help organizations navigate the complexities of compensation and talent acquisition effectively.

In the context of hiring Indian developers, knowing tech salary trends act as a guiding light to building a reliable talent acquisition strategy. This information helps you in identifying the most valuable hiring landscape insights, their salary expectation and market value, plus the 2023 salary increase projections. Ultimately, you will get a better overview of India’s salary shifts and the demographics of the domestic tech industry.

This blog will shed light on the importance of these salary trends when hiring from India, and tips on correctly analyzing them to stay ahead of the curve.

Why You Should Keep Up With Salary Trends

Whether you’re an established global corporation or an exciting young startup, it is essential to know how much to pay when hiring top Indian developers. This knowledge will make your hiring process seamless. 

• Staying up-to-Date

It is the duty of every employer to stay informed with the 2023’s salary increase projections and analyze their pay scale as per the industry standards. Every talent wants to be paid competitively, and keeping up with the salary trends will ensure that you pay fairly.

• Attracting Top Talents

Top Indian talents expect industry-standard pay, a productive work environment, and growth opportunities. To fulfill the first condition, you must find out how much top talents are earning so you can make a good offer. 

• Planning The Hiring Budget

If you are hiring an Indian developer for the first time, an IT salary trend report will give you an idea of how much you need to spend to attract the best talents based on skills, education, experience, and other attributes. 

Here’s our guide to help you identify the top Indian talents to hire.

Current Salary Trends 2023: When Hiring Indian Developers

There are several things to look for and note while reviewing a salary trends report. These elements can provide valuable insights into the current state and 2023 salary increase projections while hiring remote Indian developers:

Overall Salary Growth

Analyze the general trend of salaries of Indian developers over a specified period. Look for any significant increases or decreases in compensation levels across industries, regions, or specific job roles. A report reveals that the Indian tech sector is expected to hike salaries by 10.8%. Such trends can impact salary increase projections for 2023 and your organization’s finances.

Pay Difference In Job Roles And Levels

Identify the salary trends for various job roles and levels for the developer you are looking for. Look for variations in compensation based on experience, seniority, and skillset. This can help you gauge the earning potential at different seniority levels.

For instance, our salary guide points out the difference of pay between a front-end developer with 3-6 years of experience and one with 7-11 years of experience. This gap is justified due to the added responsibilities and tasks of the senior professional.

Impact of Skills And Certifications

 You must assess how certain skills or certifications of the developer impact the salary trends. Use the data to determine if there are specific competencies or qualifications that are highly valued and result in higher pay.

For example, an Indian data scientist will earn 1.7x to 2x more than a data engineer, owing to their in-demand skills and importance in developing next-gen technologies.

Adjust Your Salary Range

The average salary you compute for a role is sensitive to outliers. These are few organizations that pay extremely high or low to a profile and distort the average. The best way to tackle these outliers is by using percentiles to identify if a salary is high or low.

Generally, organizations divide the salary range into the 25th percentile (lower quartile), 50th percentile (median), and 75th percentile (upper quartile). If you are paying an accountant at the 75th percentile, it means that you are paying better than 75% of your competitors in the industry. You can use the percentiles to plan your hiring budget and prepare your best offer for a top Indian remote talent.

How To Analyze Salary Trends of Developers

Analyzing the salary trends uncovers several factors influencing the job market. When it comes to developers, you can use 2023’s salary increase projections to understand the growing value of a job profile, the pay stability over a duration, and the direction of the tech industry.

Consider the following:

While there are several factors that govern the salary of the profile, viz. skills, education, and experience, let us consider the demand and supply of available talent to analyze the salary trends.

Data scientists are growing in demand with the advancement of big data and future-proof technologies. This is also a niche profile, where talents usually earn higher degrees and specialize on particular skills, which is why it is difficult to find and hire the best data scientists. The demand for these professionals is expected to grow by 28%, which explains their salary increase projections for 2023.

On the other hand, front-end and Python developers are commonly found in several industries. These profiles do not necessarily require higher degrees, only 15% hold a master’s degree, and act as a supporting role in numerous digital marketing and development strategies. Hence, the demand and supply for these developers is steady, which also reflects in their tiny salary shifts.

The salaries mentioned above are relevant to the United States. If you want to tap into the vast, highly skilled, and global-ready tech talent network of India, refer to our Salary Guide for Global Companies to Hire Top Indian Tech Talent 2023. You will discover the ideal compensation range for various tech and digital roles in India, backed by Uplers’ extensive data and research.

Find Out The Competitive Pay For Top Indian Remote Developers

The job market at any point in time can be too confusing, especially if you are hiring in the Indian tech industry. Hence, tech salary trends are your guide in decoding the right payscale and presenting competitive offers to land top Indian talents. Use the sections above to clearly understand the factors and takeaways of salary trends, and analyze them to find out the right as per 2023’s salary increase projections.