Why is IT sector facing a crisis?
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- čas přidán 12. 09. 2022
- This video is about the analysis of IT sector in India so far.
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Attrition rate is record high in all IT majors.. This lead to loosing real talent which lead to loss of projects and companies to bear hiring cost for new employees...also IT professionals switch their jobs due to less salary/bad work culture/flexibility in work...
lol
Attrition is the only way fresher will enter the industry. Attrition is good for everyone.
Bhai it sector m jo chl usko crisis Maan rhe ho to baaki sector to khatm h phir
haha nobody really knows the reason. If attrition rate is high it means there is great demand in IT sector and companies have many projects. then why is sector going down. The video itself is contradictory. On one hand it says IT sector is booming then it says there is lack of professionals. then it says high inflation. Nothing makes any sense.
Attrition was high because of the boom in IT and startups, startups giving crazy salaries with vc funds but it changed in 2022. I have just completed my b.tech and switched recently, it's not as easy as it was a year ago to switch as very few are seriously hiring also big IT making strict rules to ban dual jobs or freelancing which might lead to some resign for now but will reduce attrition in long run. About cost and profit, cost increases as offices have started operating so it added extra expenses plus companies do increase salaries for fresher employees to some extent in last year to reduce attrition. I believe the USA recession will benefit Indian companies in the long run as companies who were giving projects in the USA will give to India like countries to reduce cost. Also india is growing so with time India's demand for IT services will increase eventually.
My opionin is that Company is not spending on increment on existing employees but spending additional amount hiring new employees from outside which could easily fix the cost. As giving merit increase to internal employee is much low compared to hiring a candidate from outside and training them. IT companies should change their stratergy.
Not quite impressive
Unfortunately same is followed in majority of corporates in India
I think that's because even the tax incentives under Sec 80JJAA where they get deduction for hiring new employees 🤔
Again it's my theory 😅
I agree on this
IT companies should come together and make policy against IT employees.
I think recession will help Indian IT because salary in US is very high. But IT industries do that work for cheaper. So demand for IT will not come down but attrition can be a problem.
at the end the thing that we are building has to reliable and trustworthy .If employees are changing like crazy it becomes very hard to build anything fast and reliable.
@@asutoshghanto3419 Well the companies can give more salaries to employees and the Indian managers can stop being so absurdly toxic to stop them from changing companies.
TCS,infosys have grown multiple times in last 10 yrs with record revenue increases......still they give same 25k/mnth slaries that they gave 10 yrs ago and 6-7% peanuts increment to new joinees.
IT companies should come together against employees and make strong policy against employees who quit job. It will become greed biased and can disturb whole cycle. Supply of IT employees should be promoted by encouraging students. More Supply of employees could help this sector just like BPOs.
Good analysis bro, whatever you say is 100% right.as an IT professional I can totally relate to this .(yr of experience*2)L considered to be a good salary before corona specially if u r a developer or in any high demand skill now it has been changed to (yr*4 or 5 )L .
If I talk about myself within two year my salary has increased 4 times but for this I have to made 2 switch and lots of hard work.
In 2021 Tcs was not ready to pay 8L for a 3.5 yr experience but same company after a yr ready to give 16 lpa for 4.5 yr experience.you can clearly see the difference.
Now a days most of the large mnc companies profit is reduced due to employee cost and hiring cost .
Companies that treat humans as humans are doing great. Google, Microsoft, LinkedIn, intuit, Amazon, salesforce, uber....large number of corporations that are facing no problems at all.
@@jdjdjdjdjdjd9927 in uber the work life balance is horrible
@@somnathbiswas07 they aren't paying 1cr for nothing. In fact, they're the highest payers and have the best work.
Freshers kya free mein kam karenge ?
Awesome. Good homework done. Conceptually well carved subject delivered. Attrition is on higher level in IT Industry. As you said, within 12 to 18 months of time, things will be under control.
I've been with industry for quite some time and I am not very bullish. While what you mentioned is correct, I can add few more things.
1. It companies generally have 20-80 ratio of good software engineer vs others. During this start-up storms, 15 of those 20 percentage have shifted which makes running projects nightmare for IT companies with remaining quality.
2. With work from home proven already, many foreign companies are doing directly remote hiring. This becomes win-win for both direct service receiver and technical staff but middleman IT company losses in revenue. This trend is going to increase.
3. This industry is getting matured and more and more products are being available. It reduces dependency on services.
4. With more mature products, moat of services is reducing. People are moving to better product and reducing toil.
So by IT, if it means big service companies, I am bearish. If it means software industry, i am bullish
अत्यंत महत्वाचे अपडेट्स दिलेस...
खूप खूप आभार....
Keep it up bhau 👍👍👍
जय महाराष्ट्र
Sir please aap government service, politician and business man kaise black money ko white money karte hain 🥺🙏🙏
Kyu aapko bhi karna hai?
Terko bhi white money karni hai 🤣
Swiss Bank ke Dwaar jao, Mere bhai😂
Simple hai bahut hi .
Ek bekar , 410 cr ki movie bnao
Usse koi nhi dekhe toh khud ke hi black money se sara money white kardo , khud ki tickets buy kar ke .
Jaise janta chori ka paisa white karte hai waise hi officer politician bhi karte hai..
The one thing which was contradicting is employees are leaving jobs for good work culture,obviously startup doesn't provide that.
Well, I think WFH is mostly not offered by IT companies since top-level people wants to come daily in the company and also wants the small level to join the same since they will have some entertainment + political gossip and show other that they are something.
If it is about learning then juniors should come to the office and learn from seniors but mostly that's not the case.
Hence most want WFH instead of a hybrid modal.
You're right
nobody can grab a real experience by watching couple of training videos. believe there so much need for highly skilled people who knows what they are doing
People are moving from IT to startups and Product companies that pay higher salary and growth. The rest go to IIMs, IITs for higher studies
I am also an IT guy.
Give employees a good and flexible work atmosphere with a good hike (not decent like a startup)
I think most of us choose a reliable work atmosphere with a good salary not toxic with decent salary 🙂
That's my opinion
It can be wrong.
Bhaiya,I completed my BTech in IT this year.Our college doesn't have much placement.How tough it is find job off campus?😓I am very stressed right now.
AI effects it companies? Chat gpt effect it sector revnue?
Attrition was high because of the boom in IT and startups, startups giving crazy salaries with vc funds but it changed in 2022. I have just completed my b.tech and switched recently, it's not as easy as it was a year ago to switch as very few are seriously hiring also big IT making strict rules to ban dual jobs or freelancing which might lead to some resign for now but will reduce attrition in long run. Also cost increases as offices have started operating so it added extra expenses will be normalised plus companies do increase salaries for fresher employees to some extent in last year to reduce attrition. I believe the USA recession will benefit Indian companies in the long run as companies who were giving projects in the USA will give to India like countries to reduce cost. Also india is growing so with time India's domestic demand for IT services will increase eventually so at least for a decade it will grow for sure in my view.
Very educational and knowledgeable video..
Thank you......🤗
Awesome Bro. Thanks for your in depth analysis
It's my pleasure, Sunil 🙏❤️
Tbh IT company owners totally deserve this, due to the way they have been exploiting engineers...
Aur naye log mil jaenge no problem unko kuch nhi hone vala tumare comment se India ka population bohot aur job sabko chiye bohot pade hai kam karne ke liye
Well explained. Good homework done. Thanks
Excellent knowledge sharing video ..!! Thanks for making it
It's my pleasure, Ankit❤️🙏
Problem ye hai ki IT gaints company abhi bhi 2000s ki management strategies apna rahi hai.
Companies assets are their employees. However now a decent S/w engineers can have good income without joining these low paying IT companies with slave mentality.
Also now we have a lot of product oriented s/w companies which pays good amount of salary and less number of working hours.
Whereas services companies give nearly no salary increment, with low salary and long working hours.
But still their are lines of people wanting big tech companies to hire them, In India big tech companies will never be short of human resources and data too shows that people in India are more inclined towards IT jobs the IT stocks are falling majorly because Of FED intervention and rate hikes it directly impacts them and US markets which tech companies highly rely on, no point talking about jobs😂😂😂 people will still choose jobs over Start up or business that's indian mentality in my family also people boast of having a job not business 😂😂😂
awesome explanation!
thanks a lot for this!
❤️
Very informative video..., you clear many of my doubts...thank you sir..,
Thanks a ton, Dev 🙏
Thank you very much sir, appreciate your work
Your welcome 😃
Bhai aap bahut achha research karte ho✨👌 Thank you so muchh yrr
Koi bhi is video ko sun kar top quality IT stocks ko bech mat dena. IT sector had se jyada bhaga hai, isliye thoda time consolidate hoga. Lekin jab chalega to pura market bhi isi sector ke dam par chalega. So, keep hold of your securities
💯true hold
agreed, this is the only sector that is the foundation of all other sector’s future
Saas listed Indian companies are Tanla, Intellect, Ramco System, Infoedge, etc.
Very nice research and explanation prasad sir..
Sir very good video about it sector and us recession
Should i seel tcs shares??
That's what IT is for you! I got a hike of 90% this year!
Bhaiya,I completed my BTech in IT this year.Our college doesn't have much placement.How tough it is get IT job off campus?😓I am very stressed right now 🙏.
@@debanikgoswami4834 I did BSC CS did internship for 2 months and currently within 3yrs my role is Senior Android Developer. Nothing is difficult brother just believe in yourself and your talent!
@@prajwalwaingankar3636 I am very stressed right now😓.I applied for accenture,wipro,cognizant.But they are not hiring freshers right now.They take aptitude test in which I am not good,so started preparing for it.I don't know when they will start hiring.I know C,Java, HTML,CSS, Javascript.I currently learned little bit Reactjs.
I found this information really helpful.
Very useful information sir, thanks
Sir Please recommend the best trading indicators
Bro all your points are good very nice only one thing as investor I want to ask in which fund we invest Tata digital or ICC tech or not
both funds are very similar..you can choose any one.
Bohut sahi charcha bhaiya🤞
Dada Financial modeling वरती माहिती देणारा व्हिडिओ बनवा pls
Well done bro, today I learned something new from your video.keep growing 👍
My pleasure 🙏😊
True, but on the bright side, investors must keep vigil over opportunities that might emerge in the turmoil.
Sir AI effects it companies Revenues? Chat Gpt other AI impact IT companies Revenues or profits?
Great insight 👍
Nyc analysis bhai ....bhai metal sector me b kuch analysis share kr do ..
excellent content dear prasad....loved it
❤️❤️
Awesome explanation 👏🏻👏🏻👍🏻
Fantastic. But you missed the loss of projects and abandoned projects
Attrition rate is high bcuz of work environment,work flexiblilty and less salary, freshers re offered 25k / month that too they need to relocate to big cities where they need to pay 10-14 k for pg , 5-6k for travelling. They are left with 4-5k hardly. How they will survive.?
And if you stay in same company for next three years your salary will max increase by 30%, whereas if you will switch then 100%.
Value investing V.S growth investing ke upar please ka video🙏🙏🙏🙏🙏🙏
I work in the hiring side for IT. It’s not good. Candidates do not have bounds for asking salaries. Like 2 years exp person with 3l package asks for 12l.
Let me tell you the issue,
1) when companies get the chance, they are gonna fire people left right and center. There is a news about recession in 2023.
2) candidates would buy big houses and cars but if salaries are slashed they will not be able to pay for it.
3) worse issue is, india is the house of cheap labour who can speak English hence we get so much of work. With current situation, companies can’t sustain here and they’ll leave. Effects will not be immediate but soon companies will be in some other county. Even Indian companies are hiring outside , giving them life and trying to save the cost.
Bhaiya,I completed my BTech in IT this year.Our college doesn't have much placement.How tough it is to find job off campus😓?I am very stressed right now.Many mncs have stopped hiring freshers due to recession.
I work for HCL ..ek aur reason employee cost bhadney ka hai..per employee spending ..
Precovid employees ko internet electricity or other expenses ki cost nahi deni hoti thi...
Current 5-10% increase enn cost ki wajah se bhi ho raha hai
Such a knowledgeable video bhai ❤️
My pleasure bro ❤️🙏
Please make a video on cpi us data 🙏🙏🙏
Good Analysis and explanation Sir
Thanks Ayush 😊
BSE limited share q gir rha h mere pass 760 price pr 200 shares h abhi kya kru
Mr Prasad you are working on startup?
Jaldi laya kro videos.. we love it
Sir please aap civil construction company par video banaye
Hello prasad sir
I've applied for the internship. Didn't got any reply yet.
should I do a follow-up
No . Apply in it industry
😎Welcome back bro.missed you😎
❤️
Great analysis..
❤️
Good Analysis!!!
attrition rate and many so called big IT companies are still underpaying their employees while so called CEOs managements got big pays
Thanks my brother
My teacher
I want learn more
Dahnyabadh prasad bahi important ones 👌✌🏼👍
❤️
Very nice inputs
Sir please aap future scope bachelor degree and master degree course par video banaye
Good info Prasad bro🙏👍
Make a video import export business.
Sir please aap share market course par video banaye
Problem is simple, big it companies pays so less..if you don't leave company then no growth. Also, sometimes project quality is so bad that you can't use them in your career progression.
Bhai Video is Great. But volume thoda badhao,mic ko apne pass lao.
What a great video ❤️
Video on future of latent view
Thank you
AI impact it sector revnue? Chat GPt or other automatic intelligence effect IT companies? Its effects revnue of it companies?
You have revealed the real reason behind this topic.
Good knowledge able video
Really informative
Ek kee pic kitnee baar thambil pe use karega
Good analysis sir.
Nice analysis
6.50 While talking you said more than 15000 but in visuals it was 1500+
Thanks brother
Wow
Info.❣️
I will tell you the main reason behind this,, i dont know what policy makers are thinking in IT sector
Because they are not increasing the salaries of old employees but hiring new employees with 40% to 50% hike this is the main reason behind IT sector attrition and this will increase
True. And there is no changing that...also they are hiring new employees at 40-50% hike because they have no option left........ These IT MNCs give same salaries that they used to give 10 yrs ago despite record revenues....u think they will ever increase salaries unless they have no other option.
Although this is not only true for IT...Indian businessmen in general are extremely toxic and care least about their employees work-life balance(even if they give u 10k/mnth they will act as if they own you)...one of the reason why ppl want to go to gov. jobs so badly.
@@yami6499 if same behaviour people will start moving towards startup if they perform well 'because their work culture is good and energetic
@@sandeepchandravanshi5424 Thats exactly wats happening and frankly speaking is needed.
I am all for pro business policies but indian amangers just exploit employees to the core and the employement agreement that they make everyone sign are just oppressive.
My cousin brother was in a civil engg. company in gurgaon...the managers were unable to comprehend why they are not able to get a loyal fresher for 10k/mnth in city like Gurgaon.
If someone get proper work culture rather than micromangment in companies also package as per market then no one IT employee looking for change.the main reason behind change is politics and not proper projects on particular hired employees technology.
Exactly, micromanagement and peanut annual hikes are the main reason for attrition.
I have invested in mutual fund in IT sector yes I hope that there will be again boom in IT sector
Well done
Wait and watch
Love From Odisha ❤️❤️
IT stocks already picking up...in general mood is upbeat with India suppassing UK economy
Thanks......👍👍
Your welcome 🙏
I had to discontinue video midway... Thanks to irritating/annoying background music.
Best content ever seen on CZcams
Sir please aap sebi bachelor degree and master degree course par video banaye
Very good
The real problem is not retaining telent by tech giants it works before well because there was not mismatch in supply and demand in a group of 10 people only 3 people do 90% of work so company should retain this 3 person at any cost and let other 7 people go if they want
Insightful video
Student hu bas 500 rupees tha... Steel industry pe laga diya..abhi minus me chal raha ha🤣 koi mujhe bhi sikhau yrrr. Kaha invest kare... Next month 1000 invest karne ka soch raha hu
*tell me one thing about indian IT companies all them are just like freelancers right bid on any western project and the one who bids the lowest takes the project and this is the major source of there revenue so what if they stop giving us projects so how would they survive*
Sir IRCTC pe ek video banao na
Is this the right time to invest in IT sector for long term ?
Yes Every IT stock is available at 25 % - 40 % discounted price.
Do not buy shares in bulk. Buy few stock Every week or a Month (SIP).
And whenever there is a DIP buy few shares that day.
Sir please aap business vocational and enterpreneur bachelor degree and master degree course par video banaye 🥺🙏🥺
Super