The Hindu Business Line : Campus salaries in IT cos surge 17%: Survey

Bangalore, April 11 Campus salaries in IT companies have jumped 17.6 per cent in the last two years across domains with 71 per cent of the students receiving salary between Rs 3 lakh and Rs 5 lakh.

This year, the average annual IT services pay packets have risen to Rs 2.74 lakh taking it closer to the average annual product company compensation (Rs 4.63 lakh) in the country, though some product companies pay almost 70 per cent higher salaries than services companies.

In a campus compensation and student perception survey brought out by CareerNet, a Bangalore-based recruitment company, it was found that while in financial year 2007, about 44 per cent of the students took home a sub-Rs 3 lakh per annum pay packet, this year only 12.6 per cent received salaries less than Rs 3 lakh.

And 17 per cent of the students managed to get more than Rs 5 lakh annual salary.

Graduate hiring across all companies have increased by almost 50 per cent.

Last year, about 15-20 per cent of the campus hires in the Big Five Indian IT services firms were science or computer science graduate, while this year, almost 30 per cent of those hired will be graduates.

Mr Rishi Das, CEO, CareerNet Consulting, said: “A lot of graduate hiring will happen at the cost of engineering hiring, which means that finishing schools are here to stay.”

Key findings

Other key findings of the survey include —fixed cash is the most important part of the compensation for 65 per cent of the students; product companies continue to be the preferred career option for 39 per cent of the students.

The survey also revealed that more women (29 per cent) than men (15 per cent) prefer to work in services companies and 53 per cent of the students have negative opinion about ESOPs and only 15 per cent of the companies actually pay stock options.

Foreign MNCs pay 43 per cent higher salary than Indian MNCs. The compensation survey had 59 participating companies across various domains (application/semi-conductor/systems/KPO and ITES) and the students’ perception survey was a collective opinion of about 2,200 students from over 120 engineering campuses (including IITs and NITs).

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