Following Infosys's compensation increase for new hires, domestic tech stocks are suffering large losses. Infosys shares fell 0.5%, while the majority of the Nifty IT index's constituents are down.
The country's second-largest IT business, Infosys, increased its entry-level compensation for new hires, creating concerns on Dalal Street that this could result in greater operational costs. As a result, domestic tech companies saw significant losses in Friday's session, December 26.Nine of the 10 components of the Nifty IT index are down, with Coforge leading the way with a 4% decline, followed by Mphasis, Tech Mahindra, LTIMindtree, Tata Consultancy Services, and HCL Technologies with declines ranging from 1% to 1.5%. As of 1:45 PM, Infosys shares were down 0.5% at ₹1,657 per.
The Nifty IT index, which tracks losses in large tech stocks, fell 1% to 38,600 and is expected to close the week 0.2% lower.
In an effort to attract AI talent, Infosys raises fresher compensation to ₹21L.
The IT giant has significantly increased its compensation for 2025 grads, up to ₹21 lakh, according to social media posts referenced and examined by Moneycontrol. The corporation will shortly begin an off-campus hiring campaign for 2025 engineering and computer science graduates.
According to the Moneycontrol story, which cited Infosys Group CHRO Shaji Mathew, Infosys is concentrating on its AI-first approach across all services, which makes it essential to upskill current staff and hire individuals with in-depth knowledge.
In an effort to attract AI talent, Infosys raises fresher compensation to ₹21L.
The IT giant has significantly increased its compensation for 2025 grads, up to ₹21 lakh, according to social media posts referenced and examined by Moneycontrol. The corporation will shortly begin an off-campus hiring campaign for 2025 engineering and computer science graduates.
According to the Moneycontrol story, which cited Infosys Group CHRO Shaji Mathew, Infosys is concentrating on its AI-first approach across all services, which makes it essential to upskill current staff and hire individuals with in-depth knowledge.
He affirmed that there will be both on-campus and off-campus employment efforts, along with more chances for Specialist Programmers. The recruiting drive report could not be independently verified by Livemint. We have contacted Infosys for confirmation, and their response will be updated in this copy.
For many years, prominent Indian IT companies have kept entry-level graduates' salaries flat while senior executives' compensation packages have increased significantly. But with the advent of AI and the need for in-depth knowledge, the situation is shifting, and businesses are now paying much more.
For many years, prominent Indian IT companies have kept entry-level graduates' salaries flat while senior executives' compensation packages have increased significantly. But with the advent of AI and the need for in-depth knowledge, the situation is shifting, and businesses are now paying much more.
The growing disparity is demonstrated by Moneycontrol analysis: The median pay for IT CEOs increased by 835% from ₹3.37 crore to ₹31.5 crore between FY12 and FY22. The typical wage for freshmen increased by just 45% during that time, from ₹2.45 lakh to ₹3.55 lakh.
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