Monday, 9 January 2017

IT companies to see uptick in spending in 2017

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The H1-B visa Programme Bill has been reintroduced by two Republican Congressmen in the USA. The Bill states for raising minimum wages. IT companies dependent on offshoring will face difficulties, cap on wages is not likely to change. Most H1-B salaries are close to USD 100,000 range. Some reduction on H1 visas is likely. Sudhin Apte, CEO & Research Director at Offshore Insights said that minimum wage could settle somewhere between USD 60,000-100,000 in next 12-18 months. Moshe is cautious on the IT space, but said some uptick in spending is expected in 2017. Wedbush Securities have upgraded IT companies with large Banking & Financial Services (BFSI) exposure.

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