Gender Pay Gap In Tech: 63% Of Professionals Confirm Disparity

A pan-India survey of over 6,000 technology professionals uncovers the evolving strategies for attracting and retaining top talent. The 2024 Compensation and Benefits Survey by ANSR and Talent500 reveals that over 80 per cent of India’s leading tech talent seek improvements in their compensation and benefits packages.

Beyond competitive salaries, personalised benefits, a focus on well-being, and clear career development opportunities have become the key drivers of employee satisfaction and retention. Flexibility and well-being remain paramount, with hybrid work options and mental health support distinguishing the best employers.

Apart from predictable compensation structures that offer stability, the survey highlighted the essential role of additional factors in fostering inspiration and retention among top talent in India's tech industry.

Here are the key findings of the report:

Need for Hyper-personalised Structures

The report highlights a significant shift in priorities among tech talent, with 61% of respondents emphasizing the importance of customisable health benefits programs. A staggering 77 per cent of tech professionals value hybrid work arrangements, urging companies to optimise benefits packages for hybrid work.

Addressing Compensation Inequities

Over 60 per cent of employees feel unfairly compensated, citing substantial pay disparities that underscore an urgent need for action. The report reveals that 65 per cent of respondents perceive a significant gender-based pay gap, with 56 per cent noting disparities of at least 25 per cent across different roles. Additionally, 70 per cent emphasise the critical role of Restricted Stock Units (RSUs) in fostering long-term commitment through equity-based incentives.

Upskilling is Key for Top Professionals 

Tech professionals highlight the critical importance of Learning and Development (L&D) programmes. Over 90 per cent of respondents view career pathing and L&D initiatives as indispensable factors when assessing potential employers. Moreover, 81 per cent of employees express a preference for mentorship programs and stretch roles, indicating a strong interest in career advancement and leadership opportunities.

The GCC Advantage

While over 60 per cent of GCC employees express satisfaction with their current salary and benefits, about 67 per cent indicate a desire for long-term commitment through RSUs or company share ownership. Around 62 per cent of employees find that L&D initiatives effectively align with their career goals, showcasing GCCs' commitment to talent development and career advancement. While this is a positive indicator, acknowledging the 40 per cent of employees who may not feel as aligned suggests there is still room for improvement. This emphasis is vital for GCCs as they strive to cultivate a future-ready workforce.