American multinational IT services provider, Cognizant, is expected to hike the pay packages of its entry-level engineers in India by about 18 per cent. Therefore, fresh engineering graduates who join the Company in 2020 will be offered higher pay packages, of about Rs four lakh per annum.
Cognizant has already been offering better remuneration to employees possessing premium skills in digital technologies. Now, realising the growing importance of digital technology and associated skills, it plans to pay the entry-level engineers better. It is fully aware that digital technologies are an indispensable part of the curricula in most progressive institutions and engineering colleges of the country, from where its engineers are sourced.
Having invested majorly in bringing its existing workforce up to date, the Company has also reskilled and upskilled about a lakh and a half employees in 2018 alone.
On an average, Cognizant hires about 15000 to 20,000 fresh engineering graduates every year, offering them a salary of Rs 3.30 to 3.60 lakh per annum.
Most of its recruits are sourced from the Indian Institutes of Technology (IITs) from where it has picked up about 500 engineers in the past couple of years.
Recently, the Company revealed that it is in the midst of realigning itself, and as part of the exercise, its strategies are being reassessed. Therefore, additional employee-separation programmes are also being relooked at.