After backlash, Cognizant clarifies ₹2.5 lakh salary offer for freshers
What's the story
Cognizant, a leading IT company, has clarified its stance on the recent social media controversy surrounding an annual salary offer of ₹2.52 lakh for freshers.
The firm stated that this figure pertains to non-engineering undergraduate degree holders, not engineering graduates.
Surya Gummadi, EVP and President of Cognizant Americas, confirmed that the annual compensation for fresh engineering graduates varies from ₹4-12 lakh annually based on factors like hiring category, skill set, and industry-accredited certifications.
Competitive salaries
Compensation strategy for engineering graduates
Gummadi emphasized that the compensation offered by Cognizant to engineering graduates is highly competitive within the IT services sector. He further stated that their salary package for these graduates is on par with, or even surpasses, industry standards at certain levels.
Talent development
Recruitment and upskilling strategy
Cognizant actively recruits and upskills freshers from various educational backgrounds including engineering, science, arts, and commerce.
The company has a robust training program that benefits all new hires.
Gummadi highlighted that when hiring for entry-level positions, Cognizant invests around ₹2-3 lakh per associate in the initial years for training and skill enhancement in advanced technologies.
Compensation
Approach to annual increments and bonuses
Regarding annual increments, Cognizant clarified that it strives to maintain competitiveness in its compensation strategy.
The company stated that this year's merit increases are linked to individual performance as well as macro industry trends.
Gummadi also stressed that Cognizant is a people-first company with over 70% of its global workforce based in India, across major metros and Tier-2 cities.
Growth strategy
Cognizant's expansion and talent development in India
Cognizant has recently expanded its presence in India by opening new centers in Bhubaneshwar and Indore, and enhancing operations in Hyderabad.
Gummadi stated that everything they do revolves around the quality, dedication, and scale of their talent.
The company continues to invest heavily in training its associates in advanced digital technologies, sponsoring higher education programs with top institutions to ensure their employees are at the forefront of innovation.