Wipro Explains Why Freshers’ Pay Has Remained ₹3-4 LPA for 10 Years
The Indian IT industry has been witnessing a significant talent crunch over the past few years, with many companies struggling to attract and retain top talent. However, despite this, the salaries offered to freshers by Wipro, one of India’s largest IT companies, have remained largely stagnant over the past decade. In an interview, Wipro’s Chief Human Resources Officer Saurabh Govil shed light on the reason behind this phenomenon.
According to Govil, the reason for the consistent salary range of ₹3-4 lakhs per annum (LPA) for freshers at Wipro is a demand-supply issue. He emphasized that this is not a Wipro-centric issue, but rather a broader phenomenon that affects the entire industry. Govil explained that the company is not alone in offering salaries within this range, and that any level in the organization will always receive competitive compensation.
When asked about the factors that contribute to the demand-supply imbalance, Govil pointed out that the IT industry has been growing rapidly, leading to an increased demand for skilled talent. However, the supply of freshers with the required skills has not kept pace with this demand. This mismatch between demand and supply has driven up salaries in the industry, making it challenging for companies to offer significant hikes to freshers.
Govil also highlighted that the industry is going through a transformative phase, with the advent of new technologies such as artificial intelligence, machine learning, and cloud computing. These technologies require specialized skills that are in short supply, leading to a further tightening of the talent market. As a result, companies like Wipro are struggling to find and retain the right talent, which is driving up salaries.
Despite the challenges, Govil emphasized that Wipro is committed to offering competitive compensation to its employees. He noted that the company has a strong track record of investing in employee development and growth, and that it provides a range of benefits and perks to its employees. These include opportunities for skill development, flexible work arrangements, and a comprehensive compensation package that includes salary, bonuses, and stock options.
So, what can be done to address the issue of stagnant salaries for freshers? Govil emphasized that the industry needs to focus on developing a more robust talent pipeline, with an emphasis on skilling and upskilling existing employees. He also highlighted the importance of building a strong employer brand, which can help companies attract and retain top talent.
In conclusion, Wipro’s Chief Human Resources Officer Saurabh Govil’s explanation for the consistent salary range of ₹3-4 LPA for freshers at the company highlights the broader demand-supply imbalance in the IT industry. As the industry continues to evolve and grow, it is essential for companies like Wipro to adapt and innovate to attract and retain the best talent. By focusing on employee development, building a strong employer brand, and investing in the growth and well-being of its employees, Wipro is well-positioned to navigate the challenges of the talent market and continue to thrive.
