Bangalore start-up techies are the least paid in the world
By Mansi Bhasin
Bangalore, 7th April, 2017
In Bangalore, the IT industry is the big business and home to 1,800-2,300 active tech start-ups. Yet, The employees of these start-ups are the least paid in the world. The city, which was rated the 15th best city for start-ups, has lost 5 places this year’s ranking on number 20 in the Global index, according to a genome report on start-ups.
‘Bangalore is the last one in the top 20 overall. It is ranked 11 in Performance, where it is ranked #7 overall based on valuations. This indicates either that Bangalore has a very bright future as these startups mature, or there is trouble at the top of the market with acquisitions’
Bangalore has the cheapest annual salary of for an engineer in the top 20, about $8,600 a year. This is nearly 13 times cheaper than in Silicon Valley and 4 times cheaper than the average value for Asia-Pacific
“We really work hard”, says Yash, who works in Bangalore. “There is no difference in the quality of work we do and blue-chip giants do”. The report also states that Bangalore’s engineers are the most cost-efficient among the global top 20.
Shiv, who left work in Bangalore and is looking for jobs outside India, is not interested in working in India. He says, “I can understand the difference between the onshore and offshore payments, but the money we receive does not match our qualifications”
Tanushree Sarkar, who works in human resources in Netwin technologies, says this has been a constant problem. “I have received many grievances relating to the pay-scale. I work in a start-up technology myself. The amount of hard-work the employees put in does not match the pay-scale they get. They have to work extra hours. The rules are very liberal in a start-up compared to an established organization.”
The IT sector in the city has been growing with a rapid pace, and working conditions of the workforce in the city is alarming.