Tata Consultancy Services, the country’s largest recruiter in the information technology services space, does not expect salaries offered to fresh graduates to rise this year.
These have remained unchanged between Rs 315,000 and Rs 350,000 for four years.
“At this time, I don’t see any pressure from any angle to increase freshers’ salaries,” said Ajoyendra Mukherjee, executive vice-president and global head, human resources.
“Yes, looking at inflation, it is becoming slightly more difficult for trainees at this point in time and that is something we are aware of.
“But, at this stage, I am not considering any hike as far as campus recruits are concerned.”
Hiring in the IT sector has remained tepid for the past few years, amid low demand and a poor business environment.
With high supply of graduates and low hiring demand, companies have continued to recruit freshers at the same salary levels, despite spiralling inflation rates.
Additionally, Mukherjee said, freshers join at the bottom of the employee pyramid, and if there is any revision in their salaries, it would lead to a cascading effect on all others.
“The moment you touch it (freshers’ salary), you are changing the employee cost through the pyramid.
“So, at this stage, we are saying we will stick to it (current packages),” he added.
TCS, had earlier said it would hire 25,000 freshers from 350 educational institutes for the next financial year starting April 1, 2014.
The Mumbai-based company, which has remained bullish about the global business environment, had also increased its hiring target for FY14 to 50,000 from 45,000