IT not the favourite of young grads anymore

By siliconindia   |    24 Comments
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IT not the favourite of young grads anymore
Bangalore: There is a drastic change in the selection of career by the engineering and management graduates. The IT companies have lost their sparkle in the eyes of the young graduates and the number of students who are transferring their affections to vocations such as manufacturing and banking is increasing day by day. This shift could force tech firms to scramble harder than ever before for talented employees. Trimming payroll and tightening perks to cope with the economic slowdown last year has changed the mindset of young graduates. For years, college graduates and professionals working in India's $50 billion outsourcing sector moved from one tech firm to another, often getting 20-30 percent higher salaries in the bargain. Large manufacturing companies are now matching software firms and paying a starting salary of 2.5 lakh- 3 lakh a year. Last year they were paying fresh recruits 1.8 lakh annual salary on average. This might another reason for attraction towards manufacturing sector. Now, recruitment experts and industry officials say the churn of experienced staff from IT to other sectors has increased by 15-20 percent over the past year. The main reasons, they say, are the perceived job security in the core sector and rising salary levels in manufacturing and telecom companies.

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