As per a recent report released by the Economic Times, Indian Information Technology Company Infosys has launched a fresh ‘power programme’ for campus placements which offers pay packages up to Rs. 9 lakh per annum. It also is introducing it to direct freshers. The potential benefits of this package are:
1. Revolutionized Campus Placements (power programme):
Starting salaries at top IT firms like Infosys and TCS are typically Rs 3-4 lakh per year for freshers. However, Infosys’ ‘power program’ offers Rs 4-9 lakh, while TCS’s ‘Prime’ initiative targets fresh talent with specialized skills, offering Rs 9-11 lakh.
2. Focus on Special Talents:
Not only does “power Programme” imply more pay; but it also talks about employing graduates who possess special skills in coding, artificial intelligence (AI), machine learning (ML), and cloud professions. In a moment of stagnation for the IT industry, there is a heightened demand for people skilled in these recent technologies to drive digital transformation projects.
3. Youth as a Target:
It targets candidates with strong coding, software development, and programming skills, reflecting the IT major’s shift toward differential hiring for specialized talent. With moderate demand in IT services, Infosys and its competitors focus on hiring experts in cloud computing, AI, and cybersecurity to drive digital transformations.
The corporate world is facing major challenges today with job crisis and falling market value.
In the past year, the $250 billion technology services industry in India has experienced a recession, comparable to that of the 1980s and 1990s New York City. Many software exporters were forced to reduce their number of workers. In the 2024 fiscal year, the five largest IT companies in India together cut more than seventy thousand jobs. For instance, HCLTech plans to recruit 10,000 fresh graduates, and Wipro intends to hire up to 12,000 new employees in FY25. The top four IT firms plan to hire approximately eighty-two thousand recent graduates in FY25.
Current Scenario and power programme
This year was depressing for the IT sector, as firms refused to recruit inexperienced candidates. They who work there are also not enjoying themselves at this time of their lives. The whole of the IT industry experienced a drastic drop in hike growth by a figure of 9.1% as opposed to 10.3% in 2022, which was found to be the highest since 2021. Without products, the average salary hike in the IT/ITeS sector was the least starting from 8.4%. In 2021, the average salary hike stood at 8.8% but later rose up to 9.7% in 2022. Last year, increments in the sector ranged from between 8.5% and 9.1%.
Infosys’ ‘power program’ is a strategic initiative offering high salaries and emphasizing specialized skills. As demand for top talent shifts away from IT companies, such initiatives are likely to become common in campus placements, benefiting both companies and graduates.
