WIPRO FRESHERS SALARY PACKAGE

Wipro’s Rishad Premji takes pay cut, ex CEO Delaporte takes home $20 mn

Wipro executive chairman Rishad Premji declined variable pay for the second consecutive year due to negative profit growth. He took a 20% pay cut, earning $769,456 in FY24. Former CEO Thierry Delaporte became the highest-paid IT sector CEO with $20.11 million in compensation for FY24, including a $11 million separation payment upon resignation.

HCLTech bucks trend again, headcount rises by 2,725 employees

For the full year as well, Noida-headquartered HCLTech added 1,537 employees from overall headcount of 225,944 in March end 2023. Similarly in FY23, HCLTech’s headcount had shown an increase by 3,674 employees.

With $11 million exit pay, Delaporte joins other CEOs in costly exits

An analysis of employment contracts of top IT leaders shows that in recent years, payments to exiting CEOs at companies such as Tata Consultancy Services (TCS), Cognizant and Wipro have ranged from Rs 48 crore to Rs 92 crore.

Lenskart's $200-million secondary; Wipro’s Delaporte’s golden handshake

Happy Thursday! Singapore investor Temasek and US-based fund Fidelity are preparing for a $200-million funding round in Lenskart along with Fidelity.

Ciel HR’s Aditya Narayan Mishra on IT hiring and salary trends

Aditya Narayan Mishra highlights the impact of AI, ML, cloud, and full stack development on pay packages. Global competency centers pay freshers more for problem-solving skills. Market shifts towards newer technologies, impacting attrition rates and skill demand. Further, Mishra says five years ago, the percentage of people on contract staff were less than 10%, but today it is closer to 20%.

Top IT firms saw wage bills rise 5.5% even as revenue growth dips

IT companies' cumulative wage cost rose by Rs 18,036 crore in the fiscal year. Experts said this was due to continuity in lateral hiring in high-demand areas such as AI, machine learning, and cloud and engineering services, coupled with the salary increments, even though they are in the lower single digits.

TCS starts hiring with 10,000 jobs to freshers: Here are recruitment test details, hiring dates, roles, salary package

TCS plans to initiate second hiring phase, recruiting 10,000 freshers. The move brings optimism amidst declining IT sector recruitment. Fresh talent assessed through National Qualifier Test (NQT), with tests scheduled for April 26. TCS offers three categories: Ninja, Digital, and Prime, with varying annual packages. Recruitment drive commenced in January, targeting campus hires. TCS aims to onboard 40,000 freshers, emphasizing talent developmen

Apple users hit by spyware attack; placement blues at IITs

iPhone maker Apple has warned its users in India and 91 other countries that they were possible victims of a “mercenary spyware attack”. This and more in today’s ETtech Top 5.

TCS starts fresher hiring for 2024 batch

TCS announced their annual National Qualifier Test (NQT) for final year students graduating in 2024. This online test is the first step in their recruitment process for engineers and computer science graduates interested in Ninja and Digital roles. The NQT assesses candidates' aptitude and coding skills.

IIM Indore completes final placements with 150+ recruiters making offers to 594 students

Consulting attracted 25% of the total offers, while the finance cohort made up 19% of the total offers. Recruitments in the sales & marketing function formed 19% of the total offers and 12% of the batch opted for IT/analytics roles. 25% of the batch was extended offers for roles in general management, HR & operations.

RBI’s major blow to Paytm; IT fresher hiring at record low

The Reserve Bank of India dealt Patym a severe blow, barring the listed fintech’s payment bank from offering banking services after February. This and more in today’s ETtech Morning Dispatch.

Class of 2024: How students can solve their way into employment

Companies from various industries look at these campus competitions to assess engineering talent, according to Unstop, a talent upskilling platform. For example, Flipkart organizes GRiD 5.0, a competition for engineering college students. The winners can get a chance to attend pre-placement interviews (PPIs) and also get pre-placement offers (PPOs).

Meesho back as campus recruiter after a year-long gap, plans to hire over 150 students

The company is hiring for roles across technology and product, analytics, business, fulfilment and consumer experience, monetisation, finance, growth, and HR. “Non-tech roles like strategy and operations have witnessed an uptick in salary packages in comparison to last year,” Meesho said in a release.

Class of 2024: The job roles that promise big paydays for freshers next year

Having an idea about pay packages can help students decide on the kind of money they would get to live on if they pick up certain jobs. It can also help them decide if they can afford to relocate to another city, and plan how to live away from parents on such salaries.

Frequent job switches light up CFO salaries

Chief financial officers (CFOs) are changing jobs more frequently as companies seek experienced CFOs to ensure financial stability, meet accounting and regulatory norms, rationalize costs, and raise funds in a volatile business environment. This high turnover has also led to an increase in CFO compensation, with some CFOs earning salaries closer to those of CEOs.

Flood of freshers at IT’s Big Four; Byju’s raises $250M, eyes $500M more

As of the second quarter, IT companies have not indicated any major change in their fresher intake plans for the year except TCS, which has upgraded its fresher hiring guidance from 40,000 to 47,000.

Over 90% of Wipro’s freshers chose lower salary option: CFO Jatin Dalal

In February, Pune-based labour union Nascent Information Technology Employees Senate (NITES) had filed a complaint against the company with the central labour ministry alleging "unethical reduction" in salary offers of more than 4,000 candidates.

Wipro asks some freshers to clear test or face termination, union alleges

The candidates will be tasked to undergo the PRP assessment test as a part of the training which will have negative marking of 0.25 per question. Failure to secure at least 60% post final supplementary attempt will lead to separation action, according to a mail sent to the freshers.

Wipro should relook at the strategy of salary cuts for freshers: TV Mohandas Pai

​So I do not think they should do it and I feel a bit upset that a great company like Wipro is doing it. I am okay with deferring one or two months because yes like Narayana Murthy says we are all subject to economic cycles. But when economic cycles come I believe senior people should sacrifice the most.

Wipro freshers' salary cut: IT union NITES files complaint with labour ministry

This comes after ET reported that Wipro gave a five-day window last week for freshers under the Wipro 'Turbo' package, typically carrying 6.5 lakhs per annum.

Wipro freshers' salary cut: IT employees' union urges labour ministry to intervene, files complaint

IT union NITES slams Wipro's move to cut freshers' salary, calls it 'unfair'

IT sector employees union NITES has slammed the move, saying the decision is "unjust" and "goes against the principles of fairness and transparency".

Uber inks pact with Tata Motors for supply of 25,000 EVs; Wipro cuts salary package offered to freshers

Ride-hailing company Uber has signed an agreement with Tata Motors to induct 25,000 electric vehicles (EVs) into its fleet. Uber will deploy Tata Motor's Xpres-T EVs by partnering with fleet operators in Delhi NCR, Mumbai, Kolkata, Chennai, Hyderabad, Bengaluru and Ahmedabad.