Cognizant Freshers’ Salary Increased By 18%; Will Hire 20,000 Engineers From India In 2020
Following the restructuring exercise and layoffs, New Jersey-based company, Cognizant Technology Solutions Corp. is set to hire more technical graduates in India in 2020 as a growing number of students arm themselves with digital skills.
2019 saw Cognizant become the second IT firm after Tata Consultancy Services Ltd (TCS) to employ more than 200,000 employees in India. TCS is India’s largest IT sector employer with a total headcount of about 440,000 employees.
The IT firm’s digital revenue continues to shoot up by 20% year-on-year and comprised 38% of total revenue in the December quarter.
The company is aiming to hire more than 20,000 students from Indian campuses this year.
The CEO of the IT-firm, Brian Humphries said, “With more and more university students becoming digitally ready, we have decided on a 30% increase in our hiring of engineering and science graduates for 2020.”
What Should the Graduating Engineers Expect?
The company is also shooting up the average campus salaries by 18%. The average compensation for the engineering graduates is said to be Rs 4 lakh.
Humphries said, “The acceptance rate for offers we have made in about 100 premier engineering campuses is more than 80%, reflecting increased confidence in Cognizant. This is much higher than recent years.”
Hiring Process Following the Lay-Offs?
In 2019, the IT-firm handed pink slips to 10,000-12,000 employees as it started exercising its restructuring regime to optimise costs and ease the organizational structure.
Reportedly, India is a high-growth, attractive market for Cognizant. Cognizant aims to strengthen the local talent and capabilities within India.
Additionally, Humphries said, ““There is a palpable initiative among Indian enterprises to attain and in some cases even define global benchmarks in digital adoption. They are increasingly focusing on the imperative to ‘think fast’ and ‘think forward’ to strengthen their relevance for the future.”
Cognizant’s Expansion in Mangalore!
Last week, Cognizant expanded in Karnataka. It started its operations in Mangalore with a new 1,00,000 square feet facility accommodating 1100 employees.
From its centre in Mangalore, Cognizant issues consulting, enterprise applications and business process services in the area of mortgage processing covering property taxes, research and investigations, property data warehousing and management of geospatial data.
In Karnataka, Cognizant also has operations in Bengaluru and Mysore.
Cognizant’s Plans for 2020!
Cognizant sees commercial opportunity in India, which is its largest global hub for employees.
Humphries said, “To ensure we have the right digital skills in a supply-constrained environment, we have doubled our investment in Cognizant Academy in 2020. This will enable us to reskill and redeploy our people towards our digital imperatives. To accelerate our digital momentum, we believe we need to hire or reskill approximately 25,000 resources in 2020, and we have started to operationalise this.”
According to Humphries, the company has a strong foothold in India by having around 80 clients from various sectors in India. The strength is due to its digital solutions as well as end-to-end transformational engagements in sectors such as financial services, insurance, retail, life sciences, manufacturing, and education.
India’s strong position in digital capabilities is hand-in-hand with Cognizant’s global vision. The company aims to promote its capabilities in the four key areas of data, digital engineering, cloud, and the internet of things.