IT Salaries Take 30-40% Hit Due to Economic Issues and Sector Slowdown, Early-Stage Startups Lead Hiring
- IT salary packages have fallen 30-40% from ~₹1 crore per year previously
- Decline attributed to global economic issues and IT sector slowdown
- Mass hiring during COVID leading to lower salaries currently
- Early-stage startups conducting most hiring now after Series A funding
- Some positives - IT companies getting new contracts, like Infosys' $300M PIL deal
