Infy to hire 20k engg grads at over 8% higher salary

Source: TheEconomicTimes

India’s second-largest software company Infosys will be inducting almost 20,000 engineering graduates this year at over 8.3 % higher salary from what was offered last year, even as the company seeks to cope with a lower demand for software services in its top export markets such as the US and Europe.

At a time when other industry rivals such as TCS, Wipro and HCL Technologies are deferring the
joining dates for new hires, Infosys is holding on to its commitment and that too at better salary levels than last year.

“We have increased the pay package from Rs 3 lakh per annum to over Rs 3.25 lakh per annum for those joining in June this year,” Nandita Gurjar, senior vice-president and global human resources head, Infosys, told ET in an interview. “The idea is to get the best talent even during this slowdown, to provide better training and prepare them for the projects,” she added.

Experts such as Prashant Srivastava, managing partner of Gallup Consulting, said that top tech firms want to retain their edge as preferred employers in the industry. “Proactive companies are preparing and hiring high performers for the future, as they don’t want to run after talent once economy revives in few years,” he said.

The offer letters and dates of joining have been sent to 20,000 freshers (2008-09), and the process of joining will start from June this year. Last year, Infosys recruited almost 18,000 (2007-08) engineering graduates.

The company has also increased the training period for new recruits from the current four months to almost eight months. “It gives them better understanding of a project because the predictability of what kind of work you will get is much lower than what it was last year,” said Ms Gurjar. Infosys visits some 1,100 engineering colleges every year.

At a time when the US government is mulling stricter work permit regulations, Indian tech firms such as Infosys will need to deliver more projects from India. “We have been preparing from past three years to reduce our dependency on H1B visa, which is hiring more and more locals in all the countries, where we work,” said Ms Gurjar.