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High IT salaries only for a few
By siliconindia
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Tuesday, 10 July 2007, 19:30 IST
Bangalore: The general perception of IT as the best paymasters remains a myth. The reality is that only a very small number get a six-figure monthly salary, reported The Economic Times.
As per ET's report, the number of persons who draw salaries over two lakhs per month or over 
24 lakhs per annum, at companies like TCS, Infosys and Wipro show that this group accounts for only 0.5 percent of company's total headcount.
At TCS, out of 85,582 persons employed at end of FY07, 221 employees get salaries over 24 lakhs p.a that accounts for 0.25 percent of total staff strength. While, 531 Infosys employees draw 24 lakh p.a. which accounts for 0.73 percent of the total 72,241 employees, in FY07.
In TCS, only 11 persons get only 50 lakhs p.a., which is 0.01 percent of total employees. Whereas 32 persons draw a similar salary at Infosys, which accounts for 0.04 percent of total employees and at Wipro 39 persons get above 50 lakhs p.a, which is 0.05 percent of total employees.
According to experts, apart from the best salaries, many high performers have performance variables and ESOPs that contribute to a larger overall pay packet. Gautham Sinha, CEO, TVA Infotech told ET, "About 25 to 30 percent or 2.5-300,000 employees of the one million strong Indian IT industry get salaries over 1 lakh per month or 12 lakh per year. And about one to two percent of this number ie 10,000-20,000 people across the industry earn 24 lakh and above as salary, excluding ESOPs and extra benefits."
Sinha opinioned that the average time taken for a fresher to break the one lakh rupees salary mark depends on the institute the person comes from and the base salary in the campus offer letter.
Just 2.5 percent of over four lakh engineering students graduating every year in the country draw upwards of 7 lakh p.a., according to a compensation survey and student perception study conducted by Campus Connect.
24 lakhs per annum, at companies like TCS, Infosys and Wipro show that this group accounts for only 0.5 percent of company's total headcount.
At TCS, out of 85,582 persons employed at end of FY07, 221 employees get salaries over 24 lakhs p.a that accounts for 0.25 percent of total staff strength. While, 531 Infosys employees draw 24 lakh p.a. which accounts for 0.73 percent of the total 72,241 employees, in FY07.
In TCS, only 11 persons get only 50 lakhs p.a., which is 0.01 percent of total employees. Whereas 32 persons draw a similar salary at Infosys, which accounts for 0.04 percent of total employees and at Wipro 39 persons get above 50 lakhs p.a, which is 0.05 percent of total employees.
According to experts, apart from the best salaries, many high performers have performance variables and ESOPs that contribute to a larger overall pay packet. Gautham Sinha, CEO, TVA Infotech told ET, "About 25 to 30 percent or 2.5-300,000 employees of the one million strong Indian IT industry get salaries over 1 lakh per month or 12 lakh per year. And about one to two percent of this number ie 10,000-20,000 people across the industry earn 24 lakh and above as salary, excluding ESOPs and extra benefits."
Sinha opinioned that the average time taken for a fresher to break the one lakh rupees salary mark depends on the institute the person comes from and the base salary in the campus offer letter.
Just 2.5 percent of over four lakh engineering students graduating every year in the country draw upwards of 7 lakh p.a., according to a compensation survey and student perception study conducted by Campus Connect.