IT SALARY HIKES JOB SWITCH
How to file ITR-2 online with salary, capital gains and other incomes for FY 2023-24 (AY 2024-25)?
ITR-2 can be filed using the Excel or Java utilities provided by the income tax department, or online directly through the e-filing portal. This guide outlines the most effective way to file ITR-2 online, including examples of reporting salary, capital gains, and other incomes in the tax return form.
Sweden raises salary threshold for foreign workers by almost 120%; mulls further hikes
The government plans to further raise the threshold to 35,600 kronor, with exemptions for certain workers and a one-year grace period for current permit holders. The updated threshold applies to new applications and renewals from June 18, 2024, with annual adjustments based on median salary figures. Temporary seasonal workers must meet a lower threshold of 13,000 kronor but also ensure their salaries align with industry standards.
Ignored Bengaluru woman leaves job, rejoins same startup after getting Ivy League degree at double pay
A woman's bold career move in Bengaluru has gone viral. Feeling undervalued at her startup job, she pursued an Ivy League education, enhancing her career prospects. Returning to her previous company, she secured a position with a salary more than double her previous earnings. Her story, shared by Adithya Venkatesan, has inspired many online, emphasizing the value of education and strategic career choices.
How startups are changing their hiring strategies to streamline costs
Facing a prolonged funding drought, startups are trying a new approach to cost-cutting. Layoffs continue, but some companies, like Swiggy and Ola, are strategically refilling certain open positions with lower-salaried junior staff, according to industry insiders.
IT CEOs' salary in FY24; Wipro offers 85% variable pay
Happy Wednesday! Top bosses at some of the country’s leading IT firms took home enhanced salary packages last fiscal. More on this on today’s ETtech Morning Dispatch.
Senior-level IT services hiring in 2024 focuses on new-age skills
IT services and global market conditions impact senior-level hiring with pay hikes expected. Roles in finance, consulting, and program management are in demand. Companies hiring for roles like chief AI officer, delivery head-AI, and CFOs. Skills in cloud computing, machine learning, and data engineering are sought after. Gartner forecasts $5 trillion IT spending in 2024, with India's IT spending growing.
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'Appraisal, promotion system in Indian cos is a joke': Dehradun techie shares ideas to get big pay hikes
A post by an engineer in Dehradun for higher salaries has sparked a discussion on social media. The engineer emphasized the need for individuals, especially software engineers, to consider switching jobs for better pay. The post has led to conversations about job mobility and fair compensation in the Indian job market.
Blue collar and grey collar consumer jobs growing, can't offset fall in IT white collar jobs: Dr Pawan Goyal, Naukri.com
Dr Pawan Goyal anticipates sustained single-digit salary growth amidst strong consumer demand in various sectors like oil, FMCG, travel, and auto. From an overall jobs perspective, the overall index -- a composite of both IT as well as non-IT jobs -- is flattish now. While the consumer side of the economy is growing, it has a lot more blue-collar and grey-collar jobs. It is not able to offset the decline in white-collar jobs in IT.
Switching to green careers: A quick guide to skills and strategies for a smooth transition
Rising demand for sustainability roles prompts a shift towards green careers. Industry experts emphasize understanding required skills and pay structures. Key roles include wind turbine technicians, ESG analysts, and energy specialists. Acquiring skills like carbon accounting and climate action planning is crucial for success.
Engineer shares key tips on how to get salary hike amid appraisal season in India
Akshay Saini, an engineer from Dehradun, has gained attention for his frank views on achieving higher salaries during the busy appraisal season in Indian companies. He emphasizes that job switching is often the best way to increase income significantly, citing dissatisfaction with internal appraisals and promotions. Saini's straightforward advice to those feeling underpaid is to switch jobs without hesitation.
Expect 15-25% pay hike while shifting jobs at senior level, shows Michael Page report
The Michael Page's Salary Guide 2024 for India indicates significant demand for various roles across sectors, with senior-level job shifts offering substantial salary increases of 15-25%. Manufacturing, data, generative AI, and sustainability skills are particularly sought after.
65% of India Inc employees expect favourable appraisal despite slowdown fears: Survey
The survey, conducted among 2,500 employees to gather insights on their salary increment expectations and outlook for 2024, found that despite the slightly lower projected increase and concerns about an economic slowdown, employees remain optimistic about their salary prospects.
Strong demand for skill sets in data analytics, generative AI, machine learning: Report
The IT sector is seeing demand in areas such as technology, data, AI/ML, product and security along with digital transformation and Internet of Things (IoT), and generative AI. Junior employees are getting 35-45% salary hikes while switching jobs, with mid-level and senior management getting 30-40% and 20-30% hikes respectively, according to Michael Page’s annual Salary Guide.
Pool of ‘unemployed CXOs’ grows as old firms refuse to match startup salaries
Several CXOs laid off by startups are struggling to find new roles as traditional companies are unwilling to hire them at the inflated salary levels and fancy designations that attracted them to startups in the first place. This situation has led to a growing pool of 'unemployed CXOs' in the job market. Many of these executives are finding it challenging to secure new positions due to their above-market compensation packages and lofty titles. The influx of resumes from these individuals, who are seeking roles in large companies but are deemed overpriced, reflects this trend.
Myth debunking 101: 'Early career change leads to instability'
Transitioning careers in your late 20s to early 30s is a common dilemma, often clouded by misconceptions about its impact on professional growth. Rohan Sylvester, a Talent Strategy Advisor at Indeed, highlights that changing careers at this stage can lead to growth and success if planned properly.
60% students choose job security over pay hikes: Unstop 2024 Talent Report
The Unstop 2024 Talent Report surveyed over 11,000 students, university partners, and HR professionals, revealing key insights about the job market in India. Among the findings, 60% of students prioritize job security over pay raises, with 53% expressing fear of not finding a job in their preferred field.
Workers with AI skills may witness up to 54pc salary hikes: AWS Research
AWS predicts significant salary hikes for Indian AI-skilled workers in IT and research. Employers plan AI integration by 2028. Various departments expected to benefit. Generative AI tools usage foreseen, emphasizing innovation benefits. Collaboration needed for addressing the AI skill gap.
Does more work and bigger responsibilities lead to better compensation and promotions?
Research from Deloitte India and Randstad India indicates that employees taking on additional roles are receiving better increments, double promotions, and career advancement opportunities. This strategy benefits companies by retaining talent, cultivating skilled workers internally, and saving on external hiring costs. Such initiatives have reduced attrition and boosted employee engagement.
9.6% average salary increase for India Inc in 2024: EY Future of Pay 2024 report
The second edition of EY's 'Future of Pay 2024' report predicts that India Inc will witness an average salary increase of 9.6% in 2024, similar to last year. Overall attrition fell to 18.3% in 2023, and it is expected to gradually decline further as companies prioritize cost management and employee well-being.
These sectors are likely to see the highest salary increases this year, says Mercer
According to a survey by HR consulting firm Mercer, employees in India's automobile, manufacturing and engineering, and life sciences sectors are projected to see the highest salary increases this year. Median merit salary increments in India are expected to reach 10% in 2024.
Seven in 10 Indian employees believe they are underpaid: Report
Seven in 10 employees in India believe they are underpaid. Salary is considered the most important aspect of a job. Organizations plan to improve payroll accuracy, timeliness, data security, and privacy. Employee wellbeing, including financial health and wealth creation, is a top priority. Employers are embracing AI in payroll management and exploring alternative compensation methods.
Salary hikes likely to remain flat this year
Engineering firms and non-banking financing companies (NBFCs) are likely to give hikes of over 10%, according to Aon. This set is followed by automobiles, financial institutions, fast-moving consumer goods (FMCG), tech platforms & products, professional services and global capability centres (GCCs), where increases are seen in the 9.5-9.9% range. Key sectors that see increases slowing include ecommerce (to 9.2% from 9.6%), retail (8.4% from 9.2%), startups (8.5% from 9%), and tech consulting & services (8.2% to 9.1%).
India Inc likely to give 9.5% average pay hike in 2024: Aon
This year’s pay hike would be slightly lower than 2023's 9.7% amid tepid sentiment in sectors like tech consulting and services, ecommerce, retail.
Fewer workers exit India cos on global economic woes; attrition rate improves in 2023
Lack of growth opportunities, inadequate compensation, job recognition programmes, workplace culture and poor work-life balance were the top five reasons for attrition, according to human resource consulting firm Omam Consultant’s salary projection survey 2024, shared exclusively with ET.
UK sets April deadline for new Skilled Worker applicants to meet hiked salary requirements
Starting April 4, 2014, the UK increases salary requirements for Skilled Worker route. The minimum salary rises to £38,700. Exemptions apply to Health and Care visa route, national pay scales, and teachers. Going rates are based on occupation codes and ASHE data. The ISL will replace the Shortage Occupation List.
Signing bonus: The pros and cons, and how you can negotiate
Companies use signing bonuses as a powerful tool to attract top talent by swiftly onboarding them without compromising on internal compensation. Bonuses are offered for specialised or high-demand roles, providing an immediate financial incentive to join. Pros include immediate financial boost, competitive edge, and retention tool, while cons include tax implications and potential misalignment.
Yeh dil maange more: Average 2024 pay hikes likely to be higher at 9.8%
Manufacturing and life sciences sectors are likely to pay out the highest average increments of 10 per cent, according to the Deloitte Increments Trends survey.
Big slump in pay hikes for techies switching jobs; financial report card for Nykaa, Dunzo, PB Fintech
Employees at Indian IT firms are not getting the salary hikes they were used to on switching jobs anymore, data from staffing companies suggests. This and more in today’s ETtech Morning Dispatch.
IT pays? Now not much higher for the new hire
This fiscal, software firms are offering hikes of 18-22% to those jumping jobs, while earlier, such candidates would command an increase of over 40% — even up to 100-120% — in remuneration, according to data from staffing firms accessed by ET.
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