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The $245-billion IT services outsourcing industry, India’s largest white-collar recruiter, is one of the biggest success stories to emerge from India. It typically absorbs 20-25 per cent of the 1.5 million engineering graduates in India every year. However, the halo is fading lately among freshers of second-tier colleges, where the behemoths usually hire en masse.
Colleges attribute the trend to low entry-level salaries that have stagnated at Rs 3.5-4 lakh per annum (LPA) for over a decade, while the IT services industry’s exports have grown multi-fold. To attract youngsters with aspirations, several top IT companies have implemented differential hiring.
Talent solutions firm Careernet CEO and Co-Founder Anshuman Das says IT services firms have to figure out their manpower demand planning in a better way given the low starting pay they offer, coupled with the onboarding delays faced freshers over the past year at least. “In the last 25 years, IT services companies have grown by maybe 2-2.5 times. Petrol prices have grown 4-5 times. But the starting salaries of freshers have remained at Rs 3.5 -4 lakh for the past decade at least. They have not increased even in line with inflation.”
