Despite significant changes in the job sector over the last two decades, the starting salaries for fresh graduates in major Indian IT companies have stagnated at the same levels as twenty years ago.
The job market in India has undergone considerable transformations over the past two decades; however, the starting salaries for fresh graduates entering the IT sector remain unchanged. Reports indicate that individuals graduating from engineering colleges continue to receive similar offers to those from twenty years ago, with major players like Tata Consultancy Services, Infosys, and Wipro maintaining these stagnant salary benchmarks. Despite the burgeoning IT services sector, which boasts stronger revenues and a more robust balance sheet, the financial conditions for freshers do not reflect the growth seen in other areas of the industry.
In a recent Reddit post discussing this phenomenon, it was noted that in 2007, a fresh engineering graduate hired by TCS as an Assistant Systems Engineer Trainee earned approximately 3.16 lakhs per annum. Current job market reports suggest that by 2026, the salaries for such positions may only see a marginal increase, indicating a worrying trend for new entrants into the workforce. This raises questions about the long-term viability of careers in the IT sector for new graduates who expect growth and financial advancement.
The implications of this trend are significant, as it not only affects the financial stability of fresh graduates but could also lead to broader economic consequences by potentially discouraging students from pursuing careers in IT. As the sector becomes increasingly competitive, the disparity between expectations and reality may create a disconnect that could harm both the workforce and the industry as a whole, warranting further investigation into the salary structures and hiring practices of major tech companies in India.
