Cognizant has clarified its stance on the salary it offers to freshers after facing social media criticism. The information technology services and consulting company said on Sunday that the Rs 2.52 lakh annual salary reported online pertains to non-engineering undergraduate degree holders and not fresh engineering graduates.
The company also pointed out that its salary range for fresh engineering graduates is between Rs 4 lakh and Rs 12 lakh annually, depending on the specific hiring category, skill set, and relevant industry certifications.
Cognizant's salary offer for non-engineering graduates, who are recruited for administrative and other roles, has been misconstrued as the standard compensation for all fresh hires.
The company invests significantly in training and upskilling these employees, which includes IT training that enhances their skills and prepares them for various roles within the company.
Regarding the criticism of its annual salary hikes, Cognizant noted that the reported 1% increase is the lower end of a broader range of 1% to 5%, which is based on individual performance.
The company emphasised that, despite the challenges, it remains committed to competitive compensation and has been able to provide increments and bonuses amidst industry dynamics.
Defending the company's compensation practices, Surya Gummadi, EVP and president of Cognizant Americas, stated that the firm's salary packages for engineering graduates are among the most competitive in the IT services sector.
He highlighted the company's extensive investment in training new hires, with an average investment of Rs 2 to 3 lakhs per associate in their initial years, which helps many advance to significant roles within the organisation.
Cognizant, which employs over 3.36 lakh people globally, with more than 70% based in India, has recently expanded its presence with new centres in Bhubaneswar and Indore and enhanced operations in Hyderabad.
(With inputs from PTI)
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
