India Technology Industry Compensation Benchmarking Survey Findings: 2024

The findings presented in this report are based on Technology compensation benchmarking survey conducted by Deloitte and supported by Nasscom. The report covers insights on salary increase trends & projections, attrition, differentiated benefits, niche skills and associated premiums, and other industry trends.

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Key Findings

Attrition rates have decreased significantly in 2024 compared to 2023.
Leading retention strategies in 2024 include: Enhanced employee engagement and wellbeing initiatives, Job Rotation opportunities

Average salary increments dropped this year for the Tech & BPM industry.
Bonuses are projected to decline further in FY2025, with variations based on levels of management
High-performing employees continue to be disproportionately rewarded, with payouts ranging from 1.6x to 1.8x that of average performers

Demand for niche skills remains robust, driven by advancements in AI/ML, Predictive Modeling and Cloud Computing amongst others
o Some of these niche roles requiring specialized skills are commanding premium

Companies are prioritizing Strategic Thinking, Financial Management, and Project Management capabilities when hiring Engineering and Management graduates
Pay-mix for campus recruits is being adjusted to include greater emphasis on variable pay
To mitigate infant attrition, organizations are increasingly offering joining bonuses tied to a 2-year clawback

The tech industry is intensifying efforts to engage Millennials and Gen Z through differentiated benefits, including Unlimited sick leave, pet leave, fitness memberships, burnout assessments, and adaptive office designs
The representation of women across levels and functions continue to dwindle. A decline at the junior professional level highlights the need to focus on barriers to entry

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