The students of Institute of Management Technology (IMT), Ghaziabad, have got high salary offers this year. There has been a 12.5 per cent increase in salary offers for the executive education batch at Rs 18 lakh as against Rs 16 lakh offered last year.
Around 30 percent of offers were made by information technology (IT) companies and HCL Technologies made the highest offer, followed by pharmaceutical firms and banks — each at 20 per cent.
Prakash Pathak, head, corporate relations, IMT Ghaziabad said, "HCL Technologies has come to the campus for the first time to hire students of the executive batch. The IT companies are again hiring because their global projects are back on track and we expect this trend to pick up."
The companies that made placement offers include Dr Reddy ’s, ICICI Bank, Dhanlaxmi Bank, Kotak Mahindra Bank, Deloitte and HDFC Bank.
The average salary offered was Rs 12 lakh for the batch of 59 students and the profiles offered were consulting and business analytics in IT, sales, marketing and research in pharma.
He said, "The interesting trend this year was that cross domain hiring happened with banks hiring for their IT profiles. Similarly, IT firms have hired people with banking and logistics backgrounds. Companies have again started showing interest in lateral hiring."
Tuesday, October 19, 2010
Wednesday, October 13, 2010
IT leaders to hire 90,000 software professionals this year
The IT software professionals in India should now forget about last year’s recession and look and get ready for new opportunities as India’s top IT firms including Tata Consultancy Services, Infosys and Wipro are set to hire around 90,000 software professionals this year, as against 20,000 last year.
After global economic crisis last year IT companies stopped hiring and shed jobs in December 2008, since then it is the first time that a recruitment of software professionals on such a large scale is going to be done by top IT leader’s.
According to recruitment firms and HR honchos employed with leading IT firms the sector has witnessed the highest ever job creation in September and the staff strength will increase over 50%, similar to pre-recession levels.
E Balaji, director & president, Ma Foi Randstad said, “This is the highest hiring growth recorded in the IT sector since recession. We expect similar momentum till November since companies will be required to complete their annual hiring plan before next year.” According to him approximately IT hiring has grown 20-22% during August-September over the same period last year.
Till 2008, 15% attrition rate was considered conventional in an industry where some firms tried to keep it below 20-30%. Now large GE customers like JPMorgan, Citibank and GE sending more projects to India on the other hand firms such as IBM and Accenture are under pressure to hire more from low-cost countries like India therefore to retain and hire best talent is back.
In addition to recruitment of freshers for new projects, companies have also started building bench strengths for future business. Pradeep Udhas, executive director and head of IT advisory, KPMG said, “IT biggies are stocking up skills and training them in advance in anticipation of new contracts they are expected to bag in the near future.”
He added, “Some of them are also expecting attrition, and hence a preventive measure. All major companies like TCS, Infosys, and Cognizant have exceeded their expected earnings levels.” He is hopeful this renewed hiring momentum will continue for another year.
MphasiS, last year had recruited around 1,156 employees and in its last quarterly results it had declared a manpower base of 38,275 has said at present there are more than 2,000 vacant positions within the company.
MphasiS chief human resource officer Elango R. says, “We never stopped hiring even during the downturn. What is encouraging is that some of the other companies that ceased recruitment have again started hiring.”
The main recruiters say in tier-I companies the recruitment is still at pre-recession levels, and it will take sometime to pick up in the mid-level as the market landscape has changed. They say, but specialist companies like those in product development, analytics and testing are still growing and, also speeding up in recruitment.
Ikya Human Capital Solutions MD Ajit Isaac says, “Recruitment may be back, but there is much more sanctity now.” He says, “Recruitment is much more planned now with a small bench. Companies are also much more disciplined and avoiding employees who frequently change jobs.”
Mahindra Satyam making comeback trail, is also planning to hire around 3,000 by February next year. The company at present has 27,000 employees on rolls, from the past few months has been hiring fresh talent and, during May-July it had hired around 3,000 people.
After global economic crisis last year IT companies stopped hiring and shed jobs in December 2008, since then it is the first time that a recruitment of software professionals on such a large scale is going to be done by top IT leader’s.
According to recruitment firms and HR honchos employed with leading IT firms the sector has witnessed the highest ever job creation in September and the staff strength will increase over 50%, similar to pre-recession levels.
E Balaji, director & president, Ma Foi Randstad said, “This is the highest hiring growth recorded in the IT sector since recession. We expect similar momentum till November since companies will be required to complete their annual hiring plan before next year.” According to him approximately IT hiring has grown 20-22% during August-September over the same period last year.
Till 2008, 15% attrition rate was considered conventional in an industry where some firms tried to keep it below 20-30%. Now large GE customers like JPMorgan, Citibank and GE sending more projects to India on the other hand firms such as IBM and Accenture are under pressure to hire more from low-cost countries like India therefore to retain and hire best talent is back.
In addition to recruitment of freshers for new projects, companies have also started building bench strengths for future business. Pradeep Udhas, executive director and head of IT advisory, KPMG said, “IT biggies are stocking up skills and training them in advance in anticipation of new contracts they are expected to bag in the near future.”
He added, “Some of them are also expecting attrition, and hence a preventive measure. All major companies like TCS, Infosys, and Cognizant have exceeded their expected earnings levels.” He is hopeful this renewed hiring momentum will continue for another year.
MphasiS, last year had recruited around 1,156 employees and in its last quarterly results it had declared a manpower base of 38,275 has said at present there are more than 2,000 vacant positions within the company.
MphasiS chief human resource officer Elango R. says, “We never stopped hiring even during the downturn. What is encouraging is that some of the other companies that ceased recruitment have again started hiring.”
The main recruiters say in tier-I companies the recruitment is still at pre-recession levels, and it will take sometime to pick up in the mid-level as the market landscape has changed. They say, but specialist companies like those in product development, analytics and testing are still growing and, also speeding up in recruitment.
Ikya Human Capital Solutions MD Ajit Isaac says, “Recruitment may be back, but there is much more sanctity now.” He says, “Recruitment is much more planned now with a small bench. Companies are also much more disciplined and avoiding employees who frequently change jobs.”
Mahindra Satyam making comeback trail, is also planning to hire around 3,000 by February next year. The company at present has 27,000 employees on rolls, from the past few months has been hiring fresh talent and, during May-July it had hired around 3,000 people.
Tuesday, October 5, 2010
IIM-A formulated placement reporting standards for all B-schools
The placement reporting standards for all B-schools in the country have been formulated by the Indian Institute of Management Ahmedabad (IIM-A) so that, there is greater objectivity and uniformity in the manner placement reports in B schools are projected in the media.
The decision in this regard was taken in a recruiter conclave organized by IIM-A on Friday in Mumbai. The conclave was attended by around 160 recruiters, including Morgan Stanley, Standard Chartered Bank and Indian Bank.
From B-Schools, placement coordinators from institutes such as IIM-Calcutta, IIM-Shillong, IIM-Lucknow, IIM-Indore, SP Jain Institute, ISB Hyderabad and others were present.
The placement in charges of other institutes and recruiters provided the inputs at the conclave. IIM-A will soon draft a proposal on this and send it to all stakeholders for discussion and get their reviews.
Placements chairperson at IIM-A Saral Mukherjee said: "We'll try for a consensus among B-schools to publish the standards very soon."
“The standards will have guidelines as to what details of the students' placements and the pay packets offered were to be shared with the media by the placement cell and what was the appropriate time to do so."
About the general trend of recruiters offering packages in terms of Cost to Company (CTC), which is very different from what a student will actually get, Mukherjee said, "We will be requesting the companies to be clear on the components of the package like joining bonuses, one-time relocation expenses, variable components and so on, so that there can be more clarity."
The decision in this regard was taken in a recruiter conclave organized by IIM-A on Friday in Mumbai. The conclave was attended by around 160 recruiters, including Morgan Stanley, Standard Chartered Bank and Indian Bank.
From B-Schools, placement coordinators from institutes such as IIM-Calcutta, IIM-Shillong, IIM-Lucknow, IIM-Indore, SP Jain Institute, ISB Hyderabad and others were present.
The placement in charges of other institutes and recruiters provided the inputs at the conclave. IIM-A will soon draft a proposal on this and send it to all stakeholders for discussion and get their reviews.
Placements chairperson at IIM-A Saral Mukherjee said: "We'll try for a consensus among B-schools to publish the standards very soon."
“The standards will have guidelines as to what details of the students' placements and the pay packets offered were to be shared with the media by the placement cell and what was the appropriate time to do so."
About the general trend of recruiters offering packages in terms of Cost to Company (CTC), which is very different from what a student will actually get, Mukherjee said, "We will be requesting the companies to be clear on the components of the package like joining bonuses, one-time relocation expenses, variable components and so on, so that there can be more clarity."
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