The global capability centers (GCCs) are paying 20% more salaries to employees compared to IT companies and non-tech firms employing tech people, said the  latest report from TeamLease Digital. The report has divided the salary structures for tech roles into three categories: GCCs, IT sector and non-tech sectors. In the case of GCCs, for instance, the salaries are at premium to the other two categories, especially at the freshers level, due to their adherence to global standards, the demand for specialised technical skills, and intense competition.

In comparison, the non-tech sectors are providing lower salaries which is driven by a perception that fresher tech talent lacks industry-specific experience or practical skills relevant to their needs. At the same time, the salaries in the IT sector fall between the other categories which are neither too high or too low.

As per the report, the product management and data science roles tend to be the highest paying across most cities with salary ranging from Rs 12.8 LPA (lakh per annum) to Rs 22.1 LPA for product management jobs and Rs 12.1 LPA to Rs 16.9 LPA for data science role depending on the city and its tech industry presence.

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“Bangalore consistently offers the highest salaries across most job roles, making it an attractive city for tech professionals. Gurgaon and Hyderabad also offer competitive salaries for several tech roles that are on par with those in metro cities,” the report said.

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Currently, India has over 1,600 GCCs employing over 1.66 million professionals. According to the report, India is poised to welcome 800 new GCCs in the next 5-6 years which highlights the country’s growing prominence as a global tech hub. Interestingly, there’s a rising trend of setting up GCCs in tier-II cities like Kolkata, Ahmedabad, and Vadodara that indicates a geographical diversification of tech opportunities across the country.

“The Indian tech industry is on track to reach $350 billion in revenue by 2025 with significant investments in AI, machine learning, and blockchain totaling over $9 billion in 2023 alone. This surge is fueled by the rise of remote work and digital-first strategies which have accelerated cloud computing adoption and are expected to propel the cloud market to grow at a CAGR of 22% over the next five years,” said Neeti Sharma, CEO of TeamLease Digital.

The report said that in IT products & services, cloud investment is set to grow by 25-30% over the next 5 years.

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 “The IT products & services are expected to account for 8% of India’s GDP by 2026 and create 14 million jobs. The traditionally non-tech industries are also being transformed through the use of advanced technologies with over 70% of the companies in telecom, media and entertainment, BFSI, and energy and utilities sectors dedicating more than 20% of their technology budgets to digital advancements. The tech talent pool in this non-tech sector is also expected to expand from 0.77 million in FY22 to 1.12 million by FY27,” as per the report.

While the women’s representation in the tech workforce, particularly in the GCCs, is set to grow; the report said that there’s a persistent gender pay gap in the tech industry which ranges from 10-17% on average and sometimes reaching 22-30% for roles like data analysis.