IT companies to offer lesser packages to fresh graduates

It is a known fact that IT companies are the major source of employment for the Engineering and Management graduates in the country. The field, which was considered to be a booming one in the country a few years ago, has considerably slowed down in the recent times. Large-scale layoffs and decreasing salaries have hit the industry in a major way.

Owing to the multiple policy changes made in the USA and the advent of Artificial Intelligence, experts feel that the current employees and the aspirants might be in for some shocking revelations in the near future.The latest developments seem to give further headaches to those aspiring for a job in the IT sector in the country.

While the majority of the companies used to offer an initial salary of around Rs 3.5 lakhs per annum to the freshers, sadly, the current initial offerings are being cut down by a considerable margin. Now, most of the IT companies will be offering in the range of Rs 1.8 lakhs to Rs. 2.1 lakhs per annum. It has also been learned that the students with an exceptional record might be bagged at Rs 3 lakhs per annum. However, the number of students who will be offered this price will, apparently, remain minimal.

On the other hand, the opportunities in the core sectors too, look bleak.

However, the demand for those who are adept at newer technologies such as the Internet of Things, Cloud Computing, Artifical Intelligence, and others, is higher than ever and many technology-based companies are ready to pay higher salaries for such individuals.