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TCS, Cognizant raise salaries of freshers

Thu, Sep 03, 2015, 10:56 AM
Mumbai, Sep 03: Software giants Tata Consultancy Services (TCS) and Cognizant Technology Services (CTS) have raised the salaries of the entry-level tech jobs first time in many years, according to reports.

The freshers recruited this year will get 10-12 % higher pay when compared to last year. Analysts said that increasing automation and oversupply of qualified manpower were the reasons for wage stagnation of entry-level jobs.

All the IT companies are in the process of automating a major part of their work. The freshers are not in a position to demand higher salaries due to the oversupply of qualified manpower. Of the 1.3 million engineers graduated in the 2014-15, only 2.5 lakh were hired by various tech companies.

According to a report, in 2013, the salaries of entry-level staff in the IT sector was the lowest in the past 15 years.

Big companies are raising freshers salaries due to the stiff competition from start-ups. Many domestic start-ups are offering a salary package of Rs 5 lakh per annum higher that Rs 3 to Rs 4 lakh being offered by big companies.
Agency: Ap7am Desk

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