IT giant Cognizant says reports suggesting that techies earn a starting salary of ₹2.5 lakh per annum were “grossly misrepresented.” Instead, the package offered to entry-level software engineers is highly competitive and in line with industry standards.
Cognizant had faced massive backlash over a job listing offering a package of ₹2.5 lakh to freshers. Hundreds of social media users had slammed the salary as ‘unlivable’ and called on the company to do better.
IT giant Cognizant on Sunday said it offers ₹4-12 lakh salary to fresh engineering graduates, and the salary being quoted on social media is for non-engineering undergraduate degree holders.
As per a PTI report, Surya Gummadi, EVP and President, Cognizant Americas, said: “Our recent job posting for talent from non-engineering backgrounds, with a 3-year undergraduate degree has been grossly misrepresented. This job posting, with compensation of ₹2.52 lakhs annually, was only for candidates with a 3-year undergraduate degree and not for engineering graduates.
“Our annual compensation for fresh engineering graduates ranges from ₹4 lakhs to ₹12 lakhs annually, depending on the category of hiring, skill set, and advanced industry accredited certifications,” Gummadi clarified.
{{/usCountry}}“Our annual compensation for fresh engineering graduates ranges from ₹4 lakhs to ₹12 lakhs annually, depending on the category of hiring, skill set, and advanced industry accredited certifications,” Gummadi clarified.
{{/usCountry}}"The compensation we offer for engineering graduates is highly competitive within the IT services peer group," he added.
Gummadi also addressed the backlash over low salary hikes. "The merit increases for this cycle are tied to both individual performance and macro industry dynamics. This year, we are one of the few IT companies in India that have delivered increments and bonuses for employees. This recent pay hike is the 4th that most Cognizant's associates have received in the past 3 years. Moreover, these hikes are just one component of the comprehensive total rewards," he said, calling Cognizant a people-first company. (Also read: Cognizant's annual salary hikes only 1%, increments deferred by 4 months: Report)
(With inputs from PTI)