India’s largest information technology services company Tata Consultancy Services (TCS) has begun fresher hiring, bringing huge relief to engineering graduates as several IT firms froze recruitments due to a slump in demand.
TCS has called applications from BTech, BE, MCA, MSc and MS batch of 2024. The last day to apply is April 10 and tests will be held on April 26, according to the career page of the company's website.
The Mumbai-headquartered firm is hiring for three categories -Ninja, Digital, and Prime. The Ninja category offers a package of Rs 3.36 lakhs per annum for various roles. While the Digital and Prime categories offer Rs 7 lakh and Rs 9-11.5 lakh per annum, respectively.
As the company hasn’t specified the numbers, it remains to be seen how many offer letters will be handed out by India’s top recruiter in the IT sector.
The management said in January that the process to recruit freshers for the financial year 2024-25 had begun but it is now that the company is visiting campuses.
“We have commenced our campus hiring process for the next year and see tremendous excitement among freshers to join TCS,” Milind Lakkad, Chief HR Officer, TCS said during a December earnings call.
Lakkad said it would be difficult to specify the number of hires, although, it would be "a big number." For FY2023-24, TCS had a target of hiring 40,000 freshers.
In January, rival Infosys said it saw no immediate campus requirement. Reports, however, have said the Bengaluru-based IT player hired for niche roles in February.
Infosys' outgoing Chief Financial Officer Nilanjan Roy had said the company would continue to monitor the utilisation rates and its flexi-hiring model.
IT companies have also seen improvement in their utilisation and attrition rates from the lows of 2022.
In February, industry body NASSCOM said the tech industry was poised to create 60,000 new jobs in the financial year 2023-24, taking the total to 54.30 lakh employees. This pales in comparison to the 2.7 lakh jobs that the sector created in the previous fiscal.
“Because there was a lot of over-hiring done during the COVID year, we are seeing some level of correction happening, which is expected and needed for the industry," Nasscom president Debjani Ghosh said.
Also read: IT hiring down 40%, may start picking up after June: Randstad India CEO
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