The dominance of FAANG ( Facebook, Amazon, Apple, Netflix and Google) in the technology job market is weakening, as compensation data from Levels.fyi shows that the highest-paid software engineering roles in India are increasingly being offered by AI startups, global capability centres and non-tech enterprises rather than Big Tech firms.
Levels.fyi data indicates that none of the FAANG companies feature among the top ten employers offering the highest software engineering compensation in either the US or India. In the US, the top of the pay table is now led by AI-focused companies such as Anthropic, OpenAI and xAI. In India, firms such as Stripe, Airbnb and Databricks have made the list, along with cybersecurity company Rubrik.
Rise of AI Challengers
The shift reflects a broader change in how technology professionals assess career value after the pandemic years. Large-scale layoffs across Big Tech, even as revenues rose at several firms, weakened the long-held perception that FAANG jobs offered unmatched stability alongside premium pay. While compensation remains high, FAANG salaries no longer tower over the rest of the market in the way they once did.
In India, FAANG companies still employ a significant workforce. Their combined headcount stands at around 210,000, with hiring continuing to grow year-on-year, particularly in AI, cloud, data and platform roles, Neeti Sharma, CEO of TeamLease Digital, told Fe. At the same time, she said, global capability centres, deep-tech product companies and digital teams within traditional enterprises are increasingly attracting talent by offering end-to-end ownership, faster career progression and globally relevant mandates.
Technology hiring is also expanding beyond the conventional tech sector. “A large part of technology hiring today is happening outside the traditional tech sector,” Yogesh Virmani, CEO and co-founder of BayOne Solutions, said. According to him, sectors such as banking, financial services and insurance (BFSI) and manufacturing are driving sustained demand, closely linked to core business delivery rather than short-term digital transformation projects.
As India’s role in advanced manufacturing grows, companies are hiring for automation, quality systems, production analytics and supply chain platforms. BFSI firms are adding data engineers, cybersecurity professionals and platform specialists supporting compliance, risk and customer operations. “This work is closely monitored, regulated and business critical, which makes these positions more stable than many roles in pure tech organisations,” Virmani added.
The entry-level tech job market, however, has tightened sharply. Recruiters are increasingly advising fresh graduates to look beyond IT services and Big Tech to sectors such as logistics, healthcare and consumer businesses, where firms are willing to train talent for digital platforms and automation initiatives. In such conditions, building a basic grounding in data, cloud systems and AI, along with adaptability, has become essential, Virmani said.
Beyond IT Services
New demand pockets are also emerging in the semiconductor ecosystem. Industry body India Cellular and Electronics Association has projected that the domestic semiconductor segment could generate over 1 million jobs, with companies hiring from IITs as well as tier-2 and tier-3 colleges.
Compensation outside FAANG is increasingly competitive. TeamLease’s latest Salary Primer shows that senior GenAI and MLOps specialists now earn Rs 55–60 lakh a year, with salary growth of 18–22% annually, often reaching parity with FAANG packages through performance bonuses, retention incentives and global exposure.
FAANG hiring in India remains active but more selective. Through 2025, these firms hired about 32,000 people, according to Xpheno, a small share of overall tech hiring. The focus has shifted from volume hiring to specialised roles in GenAI, cloud platforms, data infrastructure and distributed systems. In the near term, India could still see cuts in FAANG job openings, said Zaheer Mohiuddin of Levels.fyi. “In the US, techies are definitely preferring hot AI companies over traditional FAANG,” he said.
Source – https://www.financialexpress.com/life/technology/faang-loses-edge-in-high-paid-tech-jobs/4103980/