Tech salaries get reset as startup talent becomes affordable amid crises at Byju's, Paytm
A glut of CVs in the job market from laid-off startup and e-commerce employees, and those looking to exit companies, is leading to a sharp reset of salaries from the stratospheric levels scaled in the post-Covid 2021-22 hiring frenzy.
Executive search and recruitment services firms ET spoke with said the ongoing funding winter, a hiring slowdown, layoffs, and regulatory troubles at some companies have made startup talent much more affordable.
“A rationalisation of salaries is overdue post the last couple of years’ aberration of high funding and salaries. So, the downcycle will also be steeper,” said Anshuman Das, chief executive of Longhouse Consulting.