Specialised grads get high
Graduates who have majored in specialised areas are being paid more by IT companies, writes Prerna K Mishra.Updated: Mar 20, 2006 01:53 IST
For the first time, the entry-level salaries for IT-enabled services industry have started showing differentiation with companies paying more for graduates who have majored in specialised areas with distinction.
Speaking to the Hindustan Times, Nasscom President Kiran Karnik said: “Earlier in most walk-in interviews all candidates were given equal weightage. But now a graduate who holds a specialisation is being recognised for his skill and is being offered a better package vis-à-vis his generalist counterparts.”
The graduates with specialisations are finding better berths with Knowledge Processing Outsourcing majors that thrive on domain expertise. The trend is also pronounced in this year’s Nasscom-Hewitt Total Rewards Study. In fact, 48 per cent of the survey partners this year paid a premium for specialised skills at the hiring stage and the quantum payout was often left to the discretion of the recruitment managers’ discretion.
The hike has been most steep in the middle management order in the IT services sector. The median pay for project leaders has increased from Rs 850,000 per annum in 2003 to Rs 1,004,000 in 2005. For project managers, the hike has been from Rs 1,178,000 in 2003 to Rs 1,446,000 in 2005 and senior project managers in 2005 earned Rs 1,446,000 from Rs 1,178,000 in 2003.
The other trend that is quiet pronounced for the IT-ITES industry that is expected to exceed $36 billion in annual revenues is the shift towards tier II and tier III towns.
“While we are seeing more traction in smaller towns like Chandigarh, Jaipur, Coimbatore and Kochi, there are some even smaller places like Nagpur, Ranchi, Siliguri and Dehradun are on the horizon,” Karnik said.
It may take a couple of years for them to be acknowledged as BPO destinations, but they have the relevant skill sets and companies have already started showing interest in them, he added.