TCS Under On Pressure to Increase Compensation Packages for New Recruits

Bangalore: TCS, India’s largest IT firm, has reaffirmed that it is under no compulsion or pressure to increase entry level pay packages for new recruits. However, as per a senior official from the firm, all is not gloomy for fresh recruits with regards to pay. And he added that the company is carefully assessing whether there is a need for higher compensation packages for freshers because of the souring prices and other economic considerations, reports the Economic Times.

According to Ajoy Mukherjee, executive vice-president and global head (human resources), the move to increase fresher compensation, which has been stagnant since the last four years, can have a cascading effect. It might lead to the pay hikes across all employee levels and hence needs careful evaluation. Currently TCS is offering 3.5 lakh pay packages for new recruits.

Recently TCS announced that it is inclined to hire 50,000 new recruits, rather than the previous gross hiring target of 45,000 for the current year. The increase in demand for greater services is citied as the reason for this rise in the hiring target. However, Mukherjee said the demand is a far cry away from the demand during the boom time.

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