IT Sector is NO longer the Growth Engine of India | TCS, Wipro, & Infosys Q2 2024 Results #q2results
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TCS, Wipro, and Infosys have released their quarterly results for Q2 2024. TCS Q2 2024 shows a revenue growth of 7.9%. On the other hand, Wipro Q2 2024 Results show a decline in revenue by 0.1%. Infosys Q2 2024 results show a revenue increase of only 6.7%. The quarterly results of Indian IT companies are not looking good. TCS Quarterly results and Infosys quarterly results do not show a stellar growth that the Indian IT Industry has commanded for a long time now.
Someone might say that these numbers are good. However, if you compare these numbers to the TCS Q2 results 2023 then they won’t look pretty good. Similarly, if you compare Infosys quarterly results of Q2 2024 to Infosys Q2 2023 results, you will see a sharp decline. All these companies were growing at a rate of 15% at least until Q2 2023. Wipro Q2 2023 results also show a much better picture than the current revenue decline that we see right now.
This means that the IT Industry's quarterly results show a revenue decline. This is not good for the IT Industry and neither good for the employees working within it. In this video, I have covered 3 trends from the quarterly results of these IT giants. The first trend is the decline in hiring freshers. The IT industry is known for the high number of jobs it has created in India right from the early 2000s. TCS and Infosys are the first companies of many young Indians who have later built great startups of their own. But today, the IT industry is not hiring as many freshers as they were before.
The fresher hiring rate has gone down by 15-20% in the last few months. TCS, Infosys, and Wipro have said time and again that they are not hiring freshers because of these reasons: first, the freshers have to be put on a training module, then on the bench for some time, and only then they can be put on projects. In the current macroeconomic conditions TCS, Infosys, and Wipro don’t have enough projects for the current employees so why would they look forward to hiring freshers?
What should IT employees do in this case? Imagine getting hired by one of these IT Sector companies. The salaries of IT service sector freshers did not change in the last decade. But the inflation has increased the amount of money you must make to survive. The fresher salary in the IT industry has remained the same at 3.5 Lakhs since 2013-14. So, whether you get a job or not, you will be looking for another job in just a few months. One thing you can do is get yourself into critical skill areas like AI, ML, and the like. The second trend is the salary of experienced IT professionals.
My wife works in the IT sector and she told me that the salaries in the IT sector are not going to increase. So, again you should try to get yourself into that critical skill area. You can start your own side hustle and do the same job that your company does at a very nominal price in comparison to that. The third trend is about Work From Home. Companies are not looking to have employees continue working from home. Because there is extreme competition among companies for IT projects, these IT companies are telling their clients that our employees work from the office and thus offer more productivity and better value for money.
Another problem is that the office rental price is shooting through the roof. That is why companies are trying to get themselves into special economic zones which come with the condition that about 50% of the employees at least should be working from the office. All trends point to the same point which is, that we cannot continue to rely on a single source of income from our corporate careers. Even if it’s difficult, we need to find a new source of income because there is no other choice. Hope you find this video valuable, see you in the next one.
#itresults #q2fy24results #q2resultsanalysis #tcsresults #infosysresults #wiproresults
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Chapters
0:00 - Intro
0:46 - #1 Hiring Trend
3:00 - #2 Salary Trend
5:04 - #3 Work From Home Trend
6:40 - Outro
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#pavan_sathiraju #pavan_sathiraju_insead #pavan_sathiraju_management_consulting #blue_chapter_pavan_sathiraju #q2_it_results_2023 #q2_it_results_2024 #q2_results_today #tcs_results #tcs_q2_results_2023 #tcs_q2_results_2024 #tcs_q2_results_2023_expectations #tcs_q2_results_analysis #infosys_q2_results_2023 #infosys_q2_results_2024 #infosys_q2_results_2023_date #infosys_q2fy24_press_conference #infosys_q2_results_2024_live #wipro_q2_result_analysis #wipro_q2_2024 #infosys #wiproКомментарии:
Sir you are humble and simultaneously kind.
Please keep it up
situation by time
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Eventually, it's a loss to corporates. Employees are already at loss and to overcome it they will get into other fields. It will be slow and tough but everyone finds their path slowly.
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IT sector have growth potential ❤😊 but IT graduate improved there skills 😊 and pocus on improving skills ❤😊 and also data science and AI have scope in future and also in present ❤😊
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it's difficult to start the option B, time constraints and effort const. However the thing is you cant do a full time degree once you are in IT payroll. so it is a paradoxical situation ...I am also an IT developer, working in my third Company.
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Lol who trains for 1 year? Training is for 1 month down from the 3 months earlier.
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Y people are only talking about tcs, Infosys, Wipro there are so many companies in india
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I'm 2022 graduate & Jobless 😞
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It is reality. We Need Option B ! 💯
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Soon there will be jobs in IT industry only for the experienced
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What about cyber security
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Indians companies are worst apply in American company
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Fire useless mid level managers, keep few but good ones. Hire people based on skills no matter fresher or anybody. Fire seniors who are not delivering that much and still costing company more money (ie focus on productivity and have good metrics to track employees efficiency) so by doing this, this will make room to hire "talent". Then hire based on skills not "purely" no. Of experience. For tech hiring this is one of the main things, fire dumb recruiters and hiring managers who dont know shit about how tech works and how to identify talent. There are plenty of good recruiters and hiring managers on the market hire them.
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How come you are attributing IT only to these 3 companies? there are thousands of companies much better than these shops which do business. Wake up dont attribute IT to only these. There was no real requirement of people like these shops do recruitment. Only number of heads matter to them not work. more number of heads more billing on those heads. In the end these heads doesn't even get 0.01 of the money client pays as salary.
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But sir what freshers can do if companies are not hiring freshers.😢
ОтветитьHelpful
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Bhaiyya ne g*** faad diya. Any ways thanks for truth.🙏
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This is just a filthy video. Every private sectors have cross cutting and lay off.. It's best to tel how to survive in industry rather than putting bunch of recession things and make people even more scared.
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sir namaste: I think there was an error in the narration at 5.14 / 5.15 minutes. you mentioned as Work from Home; where in actually it should have been work from Office. kindly ignore this message if i am wrong in understanding the statement made by you. regards sir
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Inke canteen ki sale badhi hogi..Sabhi canteen me hi to baithte hai ..Pura din
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Indian software industry is predominately service oriented.
It means you are a, bug fixer of software which was developed 20 years back.
In those situation there is no scope of data science / new technology barring few new programming languages / tools. Only bug fixing allowed.
For that you need to work 70 hours per week, to build your nation.
You are struggling in a situation where live to work and work to live, but some one wants to build nation by body shopping you. @theartist2486
Only IT people benifited the most during covid by doing multiple jobs (moonlighting) at home and cheating their own clients....now the time for corporates.....
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It is due to global slow down they are highly dependent on Western market.
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please don't scare people by showing slowing sales numbers because that's due to high interest rate environment which will not last too long.
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Fresher salary won't change even if they have 500% profit. It doesn't matter, if you notice IT mncs always show less PROFIT, not loss. 😉
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Hi,
I would really love joining your Accenture friends .
I am working in the same org.
For the past 3yrs in Big Data Domain.
IT companies should hire more freshers and fire mid level managers and Mediocre 5 year experienced SWE, That way they can easily shoot up their revenues..and it can be easily done..I am a 4 year experiened SWE and skills are easily transferrable
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1 crore cybercoolies 😂😂
ОтветитьINDIA NEEDS TO GET INTO HITECH MFG ...PLANES TRAINS DEFENCE CHIPS ETC ETC LADT 30 YEARS STORY OVER
ОтветитьWHY SURPRISED..THESE TWITCH COMPANIES WERE SERVING THE WESTERN ECONOMIES ONLY TOP 5% OF THE WORKFORCE EAS MAKING MONEY 95% WERE POOR CYBERCOOLIES 😂😂..FURTHER THESE ARE NOT PRODUCT COMPANIES BUT LOW END PLUMBING TYPE I.T. SERVICES
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Now everyone will do data analytics 🤣🤣🤣, which will again cause trouble in future. Less demand more supply.
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How data Entry ?? And how should we found gig/opportunities into that?
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Really good video!
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Those freshers make more revenue via client billing for IT giants in less than 15 days against their annual pay.
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Even in 2008, my first salary in wipro was 3.25 lacs
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Hi Pavan…
Can you make a video on Hyderabad real estate market as the prices are soaring. Wanted to know if it’s a bubble or are the properties really worth the price?
The way communicate your through is just amazing. Great Video Pavan!!
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You should talk about these data fields company like quantum black bcg x as you are saying data related field is going good
You can make a video on these companies
Hello Sir,
Will TCS do mass layoffs if the situation get worse. Even if they there is layoff what kind of employees will be impacted more fresher or laterals?. Please share your thoughts.
Hii sir,
how about Business analytics with data science as specialization . how long one can sustain with such skills
what about data science as career?
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Great Video ❤
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