Big hikes on switching jobs in tech field likely to be over

Tech talent in India, who got over 100 per cent hikes for switching jobs a year back, are realising the situation is starkly different now, though they still get a 30-35 per cent jump in salaries, the recruitment service providers said.

Macroeconomic pressures, a looming recession, and back-to-back tech layoffs are some of the factors affecting this, The Economic Times reported.

As per data obtained by ET, hikes for new jobs fell from 54 per cent in July and August 2022 to 45 per cent in September and 37 per cent in October. Currently, the numbers rest at 35 per cent, but are likely to go down further, as per Aditya Mishra, chief executive of the hiring and staffing firm CIEL HR Services.