This may come as a major disappointment to a lot of freshers planning to join the IT industry since the hiring this year will be cut down by 20 percent.
Major IT Giants like TCS & Infosys will cut IT Jobs by 20%
Recruitments in IT sector will be reduced by 20 percent in 2016 since major IT recruiters like TCS and Infosys are planning to invest more on automation by hiring less people, a report from the National Association of Software and Services Companies (Nasscom) stated. This fall in IT recruitment will not have impact on the revenue growth of the country which is fixed at 10-11 percent for the current financial year. The hiring will slow down as compared to last year.
Mumbai-based Centrum Broking has stated in its recent report that Cognizant and HCL in Chennai have been emphasizing on rising utilization rates through automation which has led to a fall in IT recruitment. TCS has announced last week that it also will be hiring minimum number of freshers. The IT giant is expecting that around 32,000 freshers will join out of 45000 offers made at campuses across India. Infosys said last week that its total employees count was reduced from 1,76,187 last year to 1,94,044 in the March quarter.
Starting Salaries of Freshers (IT) Unlikely to see any Spike
Fresh engineering graduates, who are finding it increasingly tough to land a job in India’s $160-billion IT industry with each passing year due to lower levels of hiring, may have to deal with another disappointment this year — their starting salaries are unlikely to see a spike anytime in the near future and will largely remain stagnant at their decade-old levels. Wipro, as well as several recruiters and experts tracking India’s IT industry, India’s largest outsourcing firms are unlikely to revise fresher-level wages, at a time when spending from top customers such as Citigroup and General Electric is declining and IT firms are scrambling to protect their precious margins, amid rising inflation and cross-currency fluctuations.
Experts stress that the demand supply gap has reached alarming proportions — while India produces over 1 million engineering graduates every year now, the number of jobs available in the IT industry as of now hovers around 200,000-300,000, according to data from industry lobby Nasscom. Ten years ago, the supply-demand situation was neck to neck – the number of engineers graduating was roughly similar to the number of jobs in the IT industry. That has changed drastically.
7th Pay Commission : Boon for Government Sector
After dropping enough hint that Government is all set to implement the recommendations of Seventh Pay Commission soon, here is yet another good news for central government employees. According to Finance Ministry sources, Government won’t be making any changes in the existing advances and facilities, enjoyed by Central government employees.
7th Pay panel suggests 23.55% hike in pay and allowances of govt employees.
- Pay will go up by 16%
- Increase in allowances will be 63%
- Increase in pension will be 24%.
- Recommendations will come into force from January 1, 2016.
- Minimum basic pay for central govt staff recommended at Rs 18,000
- maximum pay Rs 2.25 lakh per month: Pay Commission.
- Pay Commission recommends 3% annual increment and 24% hike in pension for central government staffers.
Will Sarkari Naukri be the Prefered Choice Now ?
Let us take a look at the advantages that a government job has over private jobs.
1. Lesser work load
We all know that government jobs have the minimum work load as well as provide a lot of comforts as compared to private jobs. Not only this, there are no over- times as well as extra weekends required as well. A government employee knows exactly which days he is going to work and for how long, hence providing a more relaxed as well as satisfactory life style.
2. Fixed holidays and vacations
Probably one of the best perks of working in the government sector is that you do not have to argue for going on holidays and for taking leaves. There are fixed holidays per year and no matter what; you are entitled to take advantage of them. Not only this, all the government- declared holidays will also be provided to you.
3. Job security/ stability
Government jobs are not affected by a poor economy. There is very little chance that any government employee will ever lose his/ her job. In most of the cases, the job is retained until the individual is eligible for retiring. Employees in government offices have a fixed income during their entire term and the job security is also retained till the end.
4. Pensions and other benefits
Government employees are known to be getting a lot of attractive as well as life- long benefits from the government of our country. Most commonly, they are provided with life- long health care, pensions, housing facilities as well as provident funds.