Monday, March 4, 2024
Monday, March 4, 2024
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Infosys returns to campus to hire specialized job profiles

Infosys Ltd is back on campuses this year, reversing its earlier plan to skip colleges and providing some solace to institutes facing a recruiter drought.

India’s second-largest information technology (IT) services company is hiring a few executives specializing in cybersecurity and data mining. Compensation is higher than that offered to recent graduates when hiring in large numbers.

Universities are relieved even by the small number of job offers. On the other hand, analysts say, even when hiring specialized profiles, IT companies will prefer to recruit talent from campuses rather than the market, since the latter will be more expensive.

“Infosys is coming for a larger segment. They do not come for general hiring. Infosys will be hiring for the position of Software Engineer next month. There is no clarity on the number of rookies they will accept, but they will pay $9 lakh per year or more,” said Savitha Rani M., training and placement officer at Ramaiah Institute of Technology in Bengaluru.

Infosys had hired 51,300 fresh graduates in FY23. However, last year, Bengaluru twins Infosys and Wipro Ltd, which together hired 208,000 engineering graduates in the last three years, said they did not plan to go the campuses this year. Although IT companies had built a strong ‘bench’ while recruiting en masse in 2021 and 2022, the decision not to attend campuses for the 2024 batch left many students in the lurch.

In IT industry parlance, a bench is made up of employees who have not yet been deployed on a project.

An Infosys spokesperson did not respond to queries.

“Infosys will come for campus placements this year, but for specific roles. “They are looking for IT specialists and will not recruit for service positions,” said A. Sridhar, dean of internship at PES University, Bengaluru. A practicum member of RV College of Engineering also confirmed that Infosys will visit their campus on a salary of $8-9 lakh for select roles.

Although the company, during its third-quarter results, said it “does not see any immediate requirements on campus,” analysts say it is margin pressure that is driving IT companies to return to campuses instead Hire market staff.

“If Infosys has to hire more experienced staff to implement it in projects, it will have to shell out more money. Instead of deploying one person, companies are looking to deploy two entry-level people at lower costs and deliver. This is being done to reduce pressure on the margin side because employee costs will come down,” said Omkar Tanksale, research analyst at Axis Securities.

Infosys’ operating margin declined 0.70 percentage points sequentially to 20.5% during the three months ended December.

Meanwhile, rivals Tata Consultancy Services Ltd (TCS), Cognizant Technology Solutions Corp. and HCL Technologies Ltd are recruiting as usual, although the numbers are expected to be lower than before, given the big bank IT companies already have created during the years of the pandemic. .

In fact, to reduce the time needed to deploy graduates on client projects, TCS and Cognizant will prefer to recruit only those certified in Amazon Web Services and Oracle Java, among others, said placement executives in engineering colleges.

IT services companies are going to the engineering campus at a time when 50-60% of batches have been placed in global capacity centers (GCCs).

While the CCGs offer $7 lakh to $10 lakh, IT companies are hiring in bulk for $3 to 5 lakh packages.

In fact, competition for students with special skills will intensify as the compensation offered by GCCs and the specialized profiles of IT companies for graduates fall into similar ranges.

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