Freshmen could see their salaries rise – The New Indian Express
Express press service
NEW DELHI: Rising attrition, which employers are concerned about, could be good news for freshmen who are likely to see a boost in their salaries, according to employment consultancies that track employment trends. hiring companies. HCL has already started the trend, revising entry-level engineer salaries to 4.25 lakh this year from 3.65 lakh, and other Indian firms, especially in IT, may follow suit.
IT, healthcare and technology startups will incur an outlay of almost Rs 8-Rs 12 lakh to recruit freshmen for a wide variety of skill-based roles across the country, according to the Randstad salary trends. Yeshab Giri, Commercial Director – Staffing & Randstad Technologies, Randstad India, says: “According to industry leaders, the IT industry is expected to see a hike of up to 60% in salaries for professionals ranging from Rs 5-7, 50 lakh per year. compared to 2021.”
“Interestingly, the average job seeker holds more than one job offer before making a decision requiring IT companies to offer incentives such as ESOPs and travel packages to attract young workers. “, said Giri. Many companies are now looking to overhaul their compensation structures to retain top talent and prevent job switching, for example, industry observers. An industry source mentioned that another IT giant, TCS, is also planning to raise salaries for entry-level professionals.
Noting that the IT sector added 138,000 people in 2021 and India’s top 5 IT companies plan to add almost 2 lakh freshers in FY22, Sunil C, Manager – Specialized Staff – TeamLease Digital says that most IT companies gave a minimum of 15% raise. “Campus hiring saw an increase in salary from Rs 3.5 lakh to Rs 4.25 lakh. However, salaries have not increased for edtech positions,” he said.
