Cognizant to give higher salary packages to fresh engineering graduates

IT conglomerate Cognizant is going to offer 18 per cent higher pay packages to fresh engineering graduates who will join from next year. The IT major has a workforce of approximately two lakh employees. The US-headquartered firm is slated to increase the offer to engineering students to Rs 4 lakh per annum from Rs 3.38 lakh per annum. To give offer letters for next year, many IT firms are supposed to visit campuses in the month of August-September this year. At present, Cognizant has already been providing higher packages for employees with premium skills in digital technologies.

As digital technologies have become an essential part of engineering curricula in advanced institutions, the firm decided to hike the compensation of fresh engineering graduates. Cognizant has been making investments towards the reskilling and upskilling of its employees at scale with the increasing need for digital talent. On average, Cognizant commonly employs approximately 15,000-20,000 fresher candidates every year. At present, entry-level annual salary for graduate engineers is currently around Rs 3.30-3.60 lakh.

Cognizant has been recruiting from the Indian Institutes of Technology (IITs). In the last three years, it offered jobs to over 500 IITians across India. Cognizant receives about 33 per cent of its earning from digital solutions. The step is taken at a time when the firm has stated that as part of a repositioning plan, the management is currently assessing several policies. As such, it is not able to provide realignment charges on a forward-looking basis without unreasonable effort.

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