K shaped salary growth in IT

While indian big 5 IT companies are postponing the hikes or laying off the employees, Meta is being being accused of hiring ppl with expertise in AI at whopping $100M joining bonus(around Rs800cr joining bonus) Till almost 1 decade ago, IT was ticket to a stable middle class life. You start with atleast 3L/annum. Eventually getting promoted & Over the period of time not much difference between salaries.

But seems that, it is changing fast. If you are top 0.1% of the industry, you can command Rs.800cr. if you are 1% you can switch easilly & can ask 2-3X hike. if you are top 10% you can still switch but can expect 30-40% hikes. Rest 90% of IT ppl with average skills will end up struggling with mere 5% salary hikes, late promotions & struggling to manage budgets every month.

IT is no longer ticket to stable life & money is not guaranteed unless you are top 10%.