Bangalore, June 15: For years, fresh engineering graduates have had it good because demand from the IT industry was robust. That’s changing. Salaries for fresh IT engineers will be under major pressure in the coming years.
“Fresher salaries of Rs 2.75 lakh to Rs 3.25 lakh will remain unchanged or be lowered over the next few years,” wrote Kawaljeet Saluja and Rohit Chordia of brokerage firm Kotak Institutional Securities in a recent report.
The trend is changing because the number of students graduating in engineering has shot up in the past few years, and the demand has slowed. Estimates by IT industry body Nasscom show the number of engineers graduating each year has more than doubled to 8.13 lakh from 2007-08 to 2011-12.
Source: The Economic Times