• "IT industry exploiting freshers but pays higher salaries to seniors" - Former Infosys Director Mohandas Pai

    Sci & Tech
    "IT industry exploiting freshers but pays higher salaries to seniors" - Former Infosys Director Mohandas Pai

    It is well known that Indian IT businesses provide their CEOs and CXOs large wage packages. HCL has disclosed in its annual report that CEO C Vijaykumar receives an annual remuneration of Rs. 123 crore. Salil Parekh, the CEO of Infosys, has had his pay increased by 88 percent, bringing his yearly income to Rs. 79 crore.

    color:#111111;letter-spacing:-.75pt;mso-bidi-font-weight:bold">Digital Desk: An issue that has existed
    in the IT industry for many years was recently brought up in an interview by Former
    Infosys director and chairman of Aarin Capital Mohandas Pai. Pai thinks that
    freshmen are taken advantage of, which has caused problems including a rise in
    attrition, moonlighting, a reluctance to return to work, and many other things.



    In a statement to the
    media, Pai emphasized that businesses in the IT sector are "making decent
    profits, especially in view of the falling value of the Indian rupee." He
    added that the rupee's depreciation has led to a 13–14% revenue rise for IT
    companies. "IT firms are profitable, and they give senior staff members
    very substantial wages. Why not pay the younger ones as well?" he
    questioned.




    color:black">"For the past ten years, the IT industry has taken advantage
    of new graduates. Freshers are being paid the same Rs. 3.5 to 3.8 lakh that the
    corporations were giving in 2008-09; there has been no increase in wages, he
    continued.



    It is well known that
    Indian IT businesses provide their CEOs and CXOs large wage packages. HCL has
    disclosed in its annual report that CEO C Vijaykumar receives an annual
    remuneration of Rs. 123 crore. Salil Parekh, the CEO of Infosys, has had his pay
    increased by 88 percent, bringing his yearly income to Rs. 79 crore.



     



    On the other hand, big
    Indian IT companies like Wipro and Infosys recently declared that some
    employees, particularly junior level staff, will be losing their variable
    compensation owing to margin pressure. When speaking about the situation, Pai
    stated, "Senior people should make any sacrifices that are necessary. When
    junior employees aren't getting paid more, how can a senior employee accept a
    pay raise? Do not treat them like midgets, but rather as human beings.



     



    He also emphasized the
    reality that these businesses would become "mercenary organizations"
    if they do not alter their current policies. "This is a business that prioritized people and looked out for everyone. The notion of protecting those
    at the base of the pyramid has vanished over the past ten years. These
    businesses are great because of the human spirit. If they depart from the
    tremendous human culture upon which this business was formed, they will become
    mercenary organizations, he warned.



     



     

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