GCC Jobs Update - High Paying IT Jobs Coming to India in 2024 | IT Industry News | Tech Jobs 2024

Summary

Astrena has announced an expansion of their GCC in Chennai. GCCs, or Global Capability Centers, have been in India for decades, initially focusing on support and maintenance tasks. Post-COVID, their scope has widened to include more core functions due to cost advantages and remote work adaptability. Companies like RO, Pfizer, and Novartis have established GCCs in Chennai and Hyderabad. Key recruiting sectors include data analytics, enterprise mobility, security, and cloud infrastructure. Major opportunities exist in semiconductor, automotive, and logistics industries across cities like Pune, Bangalore, Hyderabad, and Chennai. For job seekers, GCCs offer higher salaries and better work-life balance.

Takeaways

• 🌟 AstraZeneca is expanding their Global Capability Center (GCC) in Chennai, joining other pharmaceutical companies like Roche and Pfizer that already have GCCs in the area.
• 🏢 GCCs are Global Capability Centers that have been operating in India for about 20-30 years, primarily focused on support, maintenance, finance, and accounting tasks that can be automated.
• 💼 Cost arbitrage is a significant factor in setting up GCCs in India, with lower real estate and talent costs compared to Western countries.
• 📈 The GCC boom has accelerated post-COVID, as companies realized the potential for remote work and the need for expanding in-house capabilities rather than outsourcing.
• 🏦 Confidentiality and privacy concerns are driving some companies to handle sensitive work in-house, leading to the establishment of GCCs for tasks like banking.
• 💰 Working in a GCC can offer at least a 20% higher salary compared to IT service providers, along with a more lifestyle-friendly culture.
• 📊 Recruitment in GCCs is happening across various fields including data analytics, enterprise mobility, security, and cloud infrastructure, indicating a shift from just support functions to core work.
• 🌐 Opportunities in GCCs are not limited to IT jobs; they span across different industries and roles, from entry-level to senior management.
• 🚀 Semiconductor companies like AMD, Nvidia, and Texas Instruments are among those expanding their GCCs, particularly in Bangalore and Hyderabad.
• 📍 Geographical fit is crucial for job seekers; understanding where industries like automotive, pharma, and logistics are setting up their GCCs can help in finding relevant opportunities.

Q & A

What is Astrena and what announcement did they make recently?

Astrena is a pharmaceutical company, and they announced earlier this month that they are expanding their existing Global Capability Center (GCC) in Chennai.

What are Global Capability Centers (GCCs)?

Global Capability Centers (GCCs) are specialized centers set up by companies in various countries to handle support functions like maintenance, finance, accounting, and other non-core tasks. They have been in India for about 20 to 30 years.

Why do companies set up GCCs in India?

Companies set up GCCs in India due to the cost advantages, including cheaper real estate and lower talent costs compared to Western nations. Additionally, the ability to perform work remotely, especially post-COVID, has further encouraged this trend.

What has changed in the nature of work handled by GCCs since COVID-19?

Since COVID-19, companies realized that remote work is feasible for more significant tasks. As a result, GCCs are now handling more critical and confidential work that was previously outsourced to IT service providers.

What advantages do GCCs offer to employees compared to IT service providers?

GCCs offer employees higher salaries (at least 20% more) and a more lifestyle-friendly work culture, with fewer urgent client demands compared to IT service providers.

Which industries are currently expanding their GCCs in India?

Industries expanding their GCCs in India include the semiconductor industry with companies like AMD, Nvidia, and Texas Instruments, as well as pharma and biotech industries, and logistics companies like UPS.

What job roles are in demand in GCCs?

Job roles in demand in GCCs include data and analytics, enterprise mobility, security, and cloud infrastructure. Recruitment is happening across these dimensions.

Can individuals from IT service providers transition to GCCs?

Yes, individuals from IT service providers can transition to GCCs. They should look for opportunities within GCCs, which often require talent across various levels and roles.

What geographic trends are seen in the establishment of GCCs in India?

Geographic trends include semiconductor companies setting up in Bangalore and Hyderabad, pharma and biotech companies in Hyderabad and Chennai, and logistics companies like UPS in Chennai.

How can individuals find job opportunities in GCCs?

Individuals can find job opportunities in GCCs by searching on platforms like LinkedIn and other job portals, focusing on companies expanding their GCCs in their respective cities or industries.