August 3, 2024 – A European-originated investor and trader named Sourav Dutta has recently made some insensitive comments about the technology workers’ salary scale in India. This is coming from Dutta, who earlier angered another segment of the population by categorizing people having a liquid net value of ₹50 lakh as ‘Lower middle class’ and has now termed an income of ₹ 25 lakhs per annum as ‘nothing’ in today’s money.
X is a social media platform where European investor Sourav Dutta posted his views on whether, or not, technology salaries are inflating the market. What tech is doing is explained in this pay structure A software engineer with even 3-5 years experience gets more than this Are tech salaries distorting the market, he queried his followers.
His comments caused controversy, which is rather fair as many IT specialists in India observe pay freezes at major IT companies such as Tech Mahindra, TCS, and Infosys. Recent incidents of hiring freezes and layoffs post the post-COVID boom have also contributed to the problem.
X user Keval requested Dutta to stop lying to the public and told that he knows some techies who get ₹25 lakhs per annum with 10 years of experience. The 3-5 year techies are considered as those who are experienced IT guys or girls who make 20-25 LPA after 10 years of experience while few startups offer 20-25 LPA to a new employee but not big tech.
However, shifting the responsibility, Dutta stated that the ₹30 lakh annual package is normal after getting five years of experience. “Oh, and have you seen the wages that these IT guys are bagging now? Yes, believe it 5 years 30 lacs is not a big deal these days,” he replied.
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Keval replied saying, “Currently I am in TCS and I am in touch with many IT guys. Giving 30 lac for 5 years exp is not common. ” Dutta said, “TCS is not a good paymaster. ”
Other X users disagreed with Dutta. Jagannath Sahoo said that such salaries can only be expected if a person switches jobs every two to three years. “It’s not common, only some guys have this offer, those are switching frequently,” he said. Another user noted, “It was common during COVID time. Not anymore.”
“What nonsense is this year? I have not heard of it at all. It is very rare. What stats do you have to prove your point,” said data engineer Raghavendra Rao.
Dutta had earlier come under the scanner for categorizing people based on their wealth. According to him, people with ₹10 lack of liquid net worth fall in the “poor” category, and those with liquid assets worth ₹1 crore are “middle class”.
Report By: Sonali Sarkar
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