Published on Mon, May 21, 2007 at 08:23 | Source : Moneycontrol.com
Updated at Tue, May 22, 2007 at 09:52
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IT majors firm up hike in entry-level salaries
As campus recruitment by IT services firms for 2008 gathers momentum, salaries being offered to fresh engineering graduates are reaching new highs, breaching the Rs 3-lakh mark.
In the current fiscal, the IT industry is expected to hire some four lakh people, of which around two lakh are likely to come from engineering colleges.
The top five services firms are seen hiring over one lakh people, of which 60-65 per cent would be freshers.
Besides, multinationals such as IBM, Accenture and EDS, among others, are also expanding their offshore centres by hiring tens of thousands of freshers, offering packages normally considered higher than what Indian companies offer.
The annual wage inflation of 12-15 per cent experienced by IT firms would well be reflected in the salaries for 2008, analysts said.
Though some players might have jumped the gun by raising entry-level packages, it is only a matter of a few more weeks before others may follow suit, as the war for talent at the campus intensifies come July-August this year.
