Entry-level IT pay may dip this hiring season
IT companies may hire more freshers from campuses next year than they hired this year. However, salary offers may not be revised, and in some cases it may even come down, compared to previous years.business Updated: Oct 20, 2014 01:24 IST
IT companies may hire more freshers from campuses next year than they hired this year. However, salary offers may not be revised, and in some cases it may even come down, compared to previous years.
With an estimated 1.5 million engineering graduates leaving college every year, IT companies enjoy a steady supply of talent. As a result, entry level annual salary package for software engineers are unchanged in the Rs 2.75 lakh-Rs 3.25 lakh bracket for the last eight years or so.
For instance, the country’s largest IT service companies, TCS and Infosys, did not make any change in their offers for graduates who will join their workforce next year.
TCS has increased its campus recruitment target for next year to 35,000 from this year’s 25,000. The company has started giving offers and the new employees are expected to join work by February-March 2015.
“At the moment we are giving campus offers where we have not changed anything as far as the salary component is concerned,” Ajoy Mukherjee, global head of human resources, TCS told HT.
“It (entry-level salaries) remains stagnant for a while...We are going with the same structure as we have. There is no change. And we are getting good talent,” he said.
Final year engineering college students have been told by some major companies that they would need to sit for a test after training period, and salaries would be determined based on the test score.
Other firms have not made public their quantum of fresh hires. Infosys is likely to hire 10-15,000 fresh new engineers.
“IT companies are more focusing on skilling their employees and trainees,” said Rituparna Chakraborty, co-founder and senior vice president of staffing firm Teamlease. “They rebrand their recruitment teams as skilling teams whose job is to upgrade engineers with skills that are currently in demand in the market,” she said.