As part of the most recent campus placements at the Institute of Chartered Accountants of India (ICAI), Tata Consultancy Services (TCS) is providing qualified chartered accountants (CAs) with an annual fixed pay of a meagre Rs 3.86 lakh.
Read on to find out all the details!
TCS’ Offer of 7.5 LPA CTC Causes Dissatisfaction
TCS offers a total cost-to-company (CTC) of Rs 7.5 lakh per year. A variable pay of Rs 2,63,348 is offered out of the CTC. TCS is hiring for a position known as “Assistant System Analyst-Trainee.”
The interviews for this position are set to happen on September 10, 2024.
For this on-campus position at ICAI, a TCS hiring announcement was released which revealed all these details.
Rage on X
Himank Singla, an X user and CA, voiced dissatisfaction with the low wage offer and raised concerns about how supply and demand might affect recently qualified CAs, “It is very disheartening to see the recent ICAI campus placement drive, especially considering the salary that TCS is offering to qualified CAs! For such a bumper result, are we really now seeing the demand and supply nexus affecting newly qualified CAs?”
Mayank Jain, another X user, expressed disapproval of the offer, claiming that even BCom grads make more money, “TCS offering fixed pay of Rs 3.8 lakh is a mockery of our hardwork & profession. A Bcom graduate earns more than that. what are the steps ICAI and CCM taking? The min package should be revised to at least 11-12L p.a for metros.”
In order to improve the minimum package for metropolitan regions, Mayank Jain requested ICAI and its Central Council Members (CCM) to raise it to at least Rs 11–12 lakh annually.
Cognizant Paying 2.52 LPA For IT Position
Cognizant has recently come under fire for paying just Rs 2.52 lakh a year for an IT position during a recent hiring campaign.
Candidates from the 2024 class are the focus of Cognizant’s off-campus employment initiative.
August 14 is the cutoff date for applications to Cognizant’s drive.
During this hiring campaign, Cognizant is offering a package worth Rs 2.52 lakh annually.
On social media, TCS and Cognizant’s low wage offers have drawn a lot of criticism.
