Bangalore: Recently IT Major Outfosys headquartered in Bangalore surprised the fresher community with the announcement that they will hire only 20,000 through campus recruitment which is far less than the number market was speculating.
However, there is no surprise in terms of salary package that will be offered to them. It will remain at 3 lakh per annum as it has been the case from the time Vajpayeeji was India’s PM.
Market experts have given thumbs up to the proficiency of the recruitment head of the company. We spoke to market expert Karthik P working as head of leading brokerage house Tirupur Financial Private Limited.
Karthik said, “I will consider this as a big positive for the company stock price as it keeps the salary cost low. I just wonder how they are able to do it. It’s not at all an easy task to motivate freshers to join at 3 lpa year after year. They are doing it successfully for more than a decade.”
“I would sincerely recommend the person who is heading their recruitment team to be given additional responsibility of managing India’s fiscal deficit. He might do a better job than our finance ministry is doing right now. I can empathize with the fresher community who will be largely disappointed hearing about this constant salary package. But I am sure they will find a way to survive within their means as they have done in the last decade or so,” Karthik added.
We got a chance to speak to Manish Sharma who is super excited to join the IT bellwether next year. As soon as results were published in his college bulletin board, he could not control his excitement and immediately updated his FB status as ‘got the dream job, time to rock’.
When we called Manish, he was busy learning how to wear tie by watching YouTube videos. He said, “We expected at least 2.5% hike this year considering in last ten years the CEO’s salary package has gone up by 100 times.”
When we asked Manish how you will manage with 18,000 in hand salary. Manish said, “Papa is proud of my achievement. He has assured that he will support me till I am able to stand on my own and get a project with onsite opportunity.”
Manish is happy that his relatives, friends who are congratulating him FB & WhatsApp, are not asking what will be his salary package.
“Thank God, throughout my student career they bugged me asking how much I scored after every exam. Now everyone including our doodhwala knows how much a fresher gets,” Manish said.
Faking news met Outfosys HR head B. Ranganath to know the reason behind this 3 lpa package. Ranganath said, “We feel our freshers are already stretched to the limit. We do not want to burden them by increasing their salary above taxable limit. It also helps in reducing the paper work for our finance department. Just change the name of the employee, rest of the details in salary slip remains same for all the freshers. We have automated the process in 2004. Till now we are using it. My guess is we will be able to maintain the salary at this level for next 20 years at least.”