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Consciously:
Facing strong backlash on social media over its offer of an annual salary of Rs 252,000 for freshers, IT giant Cognizant on Sunday said it offers a salary of Rs 400,000 to Rs 120,000 to young engineering graduates, while the salary mentioned on social media was for bachelor’s degree graduates without an engineering degree.
The company was also mocked on social media for handing out annual raises of just one percent, which is actually just the lower end of the one to five percent annual increases the company has paid out based on individual performance.
Every year, Cognizant hires young engineers and graduates from other disciplines as engineers/IT experts for various positions.
Since the two recruitment processes were almost parallel, there was an increase in the hiring of graduates with a three-year bachelor’s degree (not in engineering or information technology), which was widely announced as Cognizant’s salary package for entry-level employees.
“Our recent job advertisement for non-technical talent with a three-year bachelor’s degree was grossly misrepresented. This job advertisement, with a salary of Rs. 2.52 lakhs (approximately EUR 12,000) per annum, was only aimed at candidates with a three-year bachelor’s degree and not at engineering graduates.”
“Our annual compensation for fresh engineering graduates ranges from Rs 400,000 to Rs 120,000 per annum, depending on the hire category, skills and advanced industry-recognized certifications,” said Surya Gummadi, EVP and President, Cognizant Americas.
Cognizant hires non-technical graduates for administrative and other tasks and invests a lot of time and money in skills development and IT training, after which they are promoted to various roles.
“The compensation we offer engineering graduates is extremely competitive compared to our competitors in the IT services sector,” he said.
Cognizant’s salary package for engineering graduates is among the best in the industry and, at some levels, even higher than competitors.
“We have recruited and trained young professionals from engineering institutes and colleges with degrees in science, arts and business. Today, when AI is becoming increasingly important in modern businesses, we are creating new avenues for talent to succeed in the Indian technology industry,” said Gummadi.
Gummadi, who joined Cognizant two and a half decades ago as a junior employee and worked his way up the career ladder to become head of geography, which accounts for three-quarters of Cognizant’s revenue, said the company has an extensive training program that has benefited junior employees in all areas.
“When we hire for entry-level positions, we invest around Rs 200,000 to Rs 300,000 per employee in the first few years for training, mentoring and upskilling in advanced technologies. This applies to both engineers and non-engineers. Hundreds of our employees who joined us with a three-year bachelor’s degree now hold key positions from manager to assistant vice president across the company,” he said.
Regarding the annual salary increases, Cognizant said the company is working hard on a competitive compensation strategy.
“The increments for this cycle depend on both individual performance and macroeconomic dynamics of the industry. This year, we are one of the few IT companies in India that have given salary increases and bonuses to our employees. This latest salary increase is the fourth that most Cognizant employees have received in the last three years. Moreover, these increments are just one component of the comprehensive total compensation package,” it said.
Gummadi said that at Cognizant, people come first.
“India is the heart of Cognizant and its largest talent hub – over 70 percent of its 336,000+ employees worldwide – are based in major metros and tier two cities across the country,” he added.
“To bring our offices closer to where our employees live, we recently opened new centers in Bhubaneshwar and Indore and expanded our operations in Hyderabad. Everything we do depends on the quality, commitment and size of our talent.” Over the past few decades, the company has tapped into the full potential of India’s rich talent pool.
“We continuously invest in training and upskilling our employees in advanced digital technologies and sponsor academic and leadership development programs at top institutions so that our employees can be at the forefront of innovation, learn the latest technologies, collaborate with global clients and accelerate their career development,” he noted.
He said Cognizant has recruited and upgraded young professionals from engineering institutes and colleges offering degrees in science, arts and commerce.
“Today, as AI becomes more and more important in modern enterprises, we are creating new ways for talent to succeed in the Indian technology industry.”
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
