Winds of change are sweeping across placements at engineering colleges across the country. Indian IT companies such as Infosys, Wipro and TCS are now finding themselves outpaced in the desperate race for talent by MNCs such as IBM and Accenture, which already offer at least 20 per cent higher salaries (companies like Microsoft R&D, in fact, dole out over 100 per cent more than its rivals).
“IBM or Accenture are loosening their purse strings for the best talent,” says Gautam Sinha, CEO and Managing Director for TVA Infotech, a Bangalore-based HR Consultancy. “The demise of the widely distributed employee stock options (ESOPs) has also contributed to this change in the market,” he says. Time for Indian companies to pull up their socks.