BENGALURU: IT services firm Cognizant on Sunday said its recent job posting with compensation of Rs 2.52 lakh package annually has been 'grossly misrepresented'.
This clarification comes from the IT firm as salaries starting from Rs 2.52 lakh for freshers have sparked outrage on social media.
"Our recent job posting for talent from non-engineering backgrounds, with a 3-year undergraduate degree has been grossly misrepresented. This job posting, with compensation of Rs 2.52 lakh annually was only for candidates with a 3-year undergraduate degree and not for engineering graduates," Surya Gummadi, EVP and President, Cognizant Americas, said in a statement.
The company said that its annual compensation for fresh engineering graduates ranges from Rs 4 lakh to Rs 12 lakh annually, depending on the category of hiring, skill set, and advanced industry-accredited certifications.
"The compensation we offer for engineering graduates is highly competitive within the IT services peer group. Further, when we hire for entry level roles, we invest approximately Rs 2 to 3 lakh per associate in the initial years to train, mentor and upskill in advanced technologies,” Gummadi explained.
"This is for both engineering and non-engineering associates. Hundreds of our associates who joined us with a 3-year undergraduate degree, today hold key positions from Manager to Assistant Vice President across the company," he added.
The company has reportedly given only a 1 per cent annual salary increase to some employees.
On recent hikes, Cognizant in a statement said that they work diligently to be competitive in its compensation strategy.
"The merit increases for this cycle are tied to both individual performance and macro industry dynamics. This year, we are one of the few IT companies in India that have delivered increments and bonuses for employees. This recent pay hike is the 4th that most Cognizant's associates have received in the past 3 years. Moreover, these hikes are just one component of the comprehensive total rewards package," the statement further read.
More than 70 per cent of its over 3,36,000 global workforce is based in major metros and Tier-2 cities across the country. Recently, the company opened new centres in Bhubaneshwar and Indore, and expanded operations in Hyderabad.
Last week, Cognizant CEO Ravi Kumar S tweeted, "A wonderful new and contemporary addition to our facilities in India as we expand another 15K seats in Hyderabad. Cognizant is 55K+ strong in Hyderabad and growing, making it the city with the largest Cognizant employee base in India."