<ul><li>Fresh graduates who took Scaler Academy's six month coding programme secured average compensation of over ₹15 lakh from global multinationals like Amazon, Samsung, Google and more. </li><li>Other job offers came from companies like Lido Learning, MindTickle, Delhivery, 1MG, Oyo, MakeMyTrip and Razorpay. </li><li>Of the 182 learners on the platform, 177 previously had job offers extending an average salary of nearly ₹7.5 lakh via campus placement drives or direct recruitment. </li><li>The learners are mentored by subject matter experts from companies like Google, Facebook, Twitter and Netflix.</li></ul>Fresh graduates who took Scaler Academy’s six-month coding programme, secured jobs offers from global multinationals like Amazon, Samsung, Google and more. The academy also says that their average compensation is also over ₹15 lakh. A third of them also received job offers over ₹25 lakh per annum. Some other companies that provided job offers include Lido Learning, MindTickle, Delhivery, 1MG, Oyo, MakeMyTrip and Razorpay. The academy claims that most of their students also managed to receive compensation that is twice that of their campus job offers. Of the 182 learners on the platform, 83 previously had job offers extending an average salary of nearly ₹7 lakh via campus placement drives or direct recruitment. That means, the salaries offered after reskilling was more than double, compared to the campus offers. “Once the youth of our country is empowered with the necessary skills and knowledge, they are capable of creating hundreds of unicorns like Facebook and Google. The April 2019 batch was the litmus test to understand that. In fact, 33 of them today hold job offers that are paying over ₹25 lakh per annum,” said <keyword id="8665617" type="PERSON" weightage="20" keywordseo="abhimanyu-saxena">Abhimanyu Saxena</keyword>, Co-founder at Scaler Academy and <keyword id="8665620" type="UNKNOWN" weightage="20" keywordseo="InterviewBit">InterviewBit</keyword>. Scaler Academy is an initiative of the reskilling startup Interviewbit. While a few learners on the platform came from premier Indian institutions like Indian Institutes of Technology (IITs) and National Institutes of Technology (NITs), almost three-fourths of them were from tier II colleges. “72% of our students come from non-‘pedigree’ institutions and yet they have been able to secure gainful employment opportunities with top companies, including the likes of Google. The numbers clearly suggest that most MNCs and leading start-ups are no longer only hiring from Tier1 colleges, they are increasingly looking at talent over pedigree,” added <keyword id="279823" type="PERSON" weightage="20" keywordseo="Anshuman-Singh">Anshuman Singh</keyword>, co-founder at Scaler Academy and InterviewBit. Currently, Scaler academy has a user base of nearly 2,000 students. The learners are mentored by experts from companies like Google, Facebook, Twitter and Netflix. “A lot of young engineers don’t always have access and exposure to the relevant technical skills or recruitment processes of global companies. Our mission is to bridge that gap and help them grow in their careers. We will help young engineers expand their knowledge and coding skills and enable them to get top tier software engineers jobs at the best global tech companies,” Singh earlier said. See also: <a href="https://www.businessinsider.in/careers/news/tcs-cognizant-capgemini-and-other-top-giants-who-are-not-letting-go-of-their-new-hires/articleshow/75136446.cms">TCS, Cognizant, Capgemini and other top giants who are not letting go of their new hires</a> <a href="https://www.businessinsider.in/careers/news/capgemini-india-cognizant-and-others-who-are-giving-salary-hikes-in-times-of-coronavirus/articleshow/75151960.cms">Capgemini India, Cognizant and others who are giving salary hikes in times of Coronavirus</a>

A third of the freshers who reskilled at Scaler Academy bagged job offers at over ₹25 lakh

<ul><li>Indian IT company Wipro said that it is prepared to “cut costs wherever possible”.</li><li>The company announced that hiring will be slower in the coming months and onboarding has been deferred for the foreseeable future.</li><li>It may also be forced to ask employees to go on leave or cut jobs if things get worse.</li></ul>Indian IT giant, Wipro, is under pressure from the Coronavirus pandemic. It said that it is prepared to “cut costs wherever possible” after announcing a <a href="https://www.businessinsider.in/business/corporates/news/wipro-takes-14-16-million-covid-19-hit-in-q4-skipping-guidance-and-increments/articleshow/75159717.cms">5.3% dip in its net profits in Q4.</a> Hiring will be slower in the coming quarter and any onboarding — which includes campus placements — will be deferred as the company analyses how the current scenario plays out, according to Saurabh Govil, the chief human resources officer at the company. The total number of employees at the company has already seen a marked decrease. In the fourth quarter, the total headcount stood at 182,886 as compared to 187,318 in the third quarter. Govil attributes the dip to better utilisation. He stated that around 93% of Wipro’s employees are working from home and its utilisation has increased by 3% — from 70.2% in the third quarter to 73.4% in the fourth. However, this does not rule out the possibility of the company asking some employees to go on leave or even letting them go . “We will look at if people can go on furloughs and leaves. If sub-contractors can come down and if we can deploy people there. We will have to cut costs wherever possible. These are tough times and we may have to take tough decisions,” Govil told <a href="https://www.cnbctv18.com/information-technology/exclusive-wipro-says-may-ask-some-staff-to-go-on-leave-does-not-rule-out-layoffs-5698021.htm">CNBC-TV 18</a>. What happens to Wipro’s campus placements? Even though the company did not disclose how many new hires will be caught in the readjustment, the company doubled its hiring in 2019-20. According to reports, Wipro hired nearly 12,000 freshers over the last year and had plans to onboard a similar number in 2021. However, the Coronavirus outbreak has put a dent in these plans since its impact resulted in budget cuts and a drop in IT spends from its clients. “We estimate that the IT Services revenues for the quarter ended March 31, 2020 were negatively impacted by COVID-19 by approximately $14 -$16 million,” the company said in a <a href="https://www.businessinsider.in/business/corporates/news/wipro-takes-14-16-million-covid-19-hit-in-q4-skipping-guidance-and-increments/articleshow/75159717.cms">statement</a>. During the global financial crisis of 2008, onboarding of the graduates from 2008 and 2009 was deferred by as much as eight to 10 months. While some held out, others took up other jobs at startups as at the time because there was no definitive end in sight. See also: <a href="https://www.businessinsider.in/business/corporates/news/wipro-takes-14-16-million-covid-19-hit-in-q4-skipping-guidance-and-increments/articleshow/75159717.cms">Wipro takes $14-16 million Covid-19 hit in Q4 skipping guidance and increments</a>

Wipro's hiring will be slower in the coming months and current employees may be asked to go on leave without pay

<ul><li>Technology major <keyword id="28721" type="COMPANY" weightage="20" keywordseo="Cognizant">Cognizant</keyword> is hiring 500 sales professionals, skilled in digital technologies. </li><li>This would include sales staff at <keyword id="10875" type="COMPANY" weightage="20" keywordseo="IBM">IBM</keyword>, TCS, Infosys, Wipro and Tech Mahindra. </li><li>According to Cognizant’s website, there are over 80 job openings in the sales and marketing domain.</li></ul>Technology major Cognizant is hiring 500 sales professionals who are skilled in digital technologies. Cognizant CEO Brian Humphries recently said that they are analysing hiring trends. In fact, the company is looking to poach from TCS, IBM, Infosys and Wipro. “This would include sales staff at IBM disillusioned with the changes at that firm, and also from the likes of TCS, Infosys, Wipro and Tech Mahindra who want to increase earning potential and want a new challenge,” Phil Fersht, chief executive officer, HfS Research <a href="https://m.economictimes.com/tech/ites/cognizants-aggressive-hunt-for-sales-executives-may-set-off-a-talent-war/amp_articleshow/70953335.cms">told </a>ET. According to Cognizant’s website, there are over 80 job openings in the sales and marketing domain. This move is surprising as the company has been <a href="https://www.businessinsider.in/cognizant-may-layoff-hundreds-of-employees-sitting-on-the-bench/articleshow/70696484.cms">laying off its staff</a>. The IT giant has been cutting its mid and senior level talent pool to cut costs. At the same time, it is trying to boost revenues by tightening travel budgets, and increasing variable pay. Cognizant also introduced a ‘<a href="https://www.businessinsider.in/cognizant-begins-voluntary-separation-program-for-senior-staff-report/articleshow/69515809.cms">voluntary separation scheme</a>’ for senior executives. Under this, it offers 12-month salary and stock benefits depending on the employee’s tenure in the organisation. According to a report titled ‘<a href="https://www.businessinsider.in/a-survey-of-sales-professionals-shows-trust-is-as-important-as-tech/articleshow/70263159.cms">The State of Sales 2019 - India Report</a>’ released by LinkedIn, sales professionals are now adopting modern and digital selling tactics. In fact, most new employees spend time on sales technology. This includes using cloud-based software to enhance efficiency by automating tiresome tasks. See also: <a href="https://www.businessinsider.in/infosys-is-hiring-18000-freshers-from-campus-placements/articleshow/70223097.cms">After TCS, Infosys on a hiring spree — plans to add 18,000 freshers via campus placements</a> <a href="https://www.businessinsider.in/tcs-has-36-women-employees-in-the-workforce/articleshow/70190643.cms">TCS is running on women power, with over 150,000 permanent employees</a> <a href="https://www.businessinsider.in/tcs-plans-to-hire-18000-freshers-in-next-3-months/articleshow/70146189.cms">TCS to add 18,000 freshers in the next three months</a>

Cognizant will hire 500 sales staff and looks to poach ‘disillusioned’ IBM employees

<ul class="summary-list"><li>CBRE, the world's largest commercial real estate brokerage and services firm, has many different internships. Its largest is the national sales internship program, which pairs interns with brokerage teams. </li><li>It received 4,500 applications for 2020, and CBRE expects to make 175 placements in the internship program. </li><li>We spoke to Elisha Bejsovec, the CBRE program manager for campus recruiting who runs the national program, and Lew Horne, CBRE's president of the Pacific Southwest division, about how to nab a spot. </li><li>They suggest having prior internships in the field or joining their schools' real estate society or club. Horne said that they're "laser-focused" on attributes, because "you can train the skills."</li><li>Resume keywords like real estate, leadership, networking, and analytics demonstrate that an applicant may have the attributes that the firm is searching for.</li><li>One way to have a better chance is by networking with the local CBRE brokers and teams. Bejsovec said that many brokers would be glad to meet with potential interns.</li><li><a href="https://www.businessinsider.com/prime">For more BI Prime stories, click here.</a></li></ul>In an increasingly professionalized real estate world, the right stamp of approval for a job-hunting student or early-career professional can be crucial.<a href="https://www.businessinsider.com/best-internships-in-investment-banking-2017-10">While internships at Wall Street giants may draw more attention on campus</a>, real-estate firms have launched their own, ultra-competitive programs. CBRE, the world's largest commercial real estate brokerage and services firm, has six different internship opportunities for recent college grads, from finance and valuations work to project management and tech, as well as a range of opportunities for MBAs and other graduate students, but its largest is the national sales internship.Launched five years ago, the paid internship runs for eight weeks in the summer and is open to undergraduate juniors and seniors, as well as graduate students. It operates in 15 markets around the country, with the size of the class of interns proportional to the size of the market. Almost all of CBRE's largest markets are represented, except for New York, which has its own, separate sales internship program.The national sales internship program has an acceptance rate that's comparable to Harvard's undergrad program: just under 4%. It received 4,500 applications for 2020, and is projecting to make 175 placements in the internship program. Interns are paired with a brokerage team and also work in small groups on a competitive project, pitching their own insight to solve problems on CBRE's actual deals in progress. We spoke to Elisha Bejsovec, the CBRE program manager for campus recruiting who runs the national program, and Lew Horne, CBRE's president of the Pacific Southwest division, about the program, and their tips to get a spot in the intern class, and how to get hired at the end of the eight weeks. "It's a potential free look for them and a potential free look for us," Horne told Business Insider (free look is a real estate synonym for due diligence period). They did not disclose the interns' salary, but said it was "competitive" with similar programs. <h2>Use these resume keywords to stand out</h2>The internship recruiting process starts at the end of the summer, when CBRE post the job opening on its website and on-campus job portals. Bejsovec and her team hold info sessions at some universities with strong real estate, sales or entrepreneurship programs, but they open up applications to a wide range of students.Last year, the class of 135 interns came from 77 different universities. Each localized program recruits mostly from nearby universities - Horne said that in greater LA, that means USC and UCLA send many students.Bejsovec and Horne said that while academic performance is an important part of the selection, their top priorities for applicants are that they have demonstrated interest in commercial real estate, and that they have the right attributes for a sales job. "GPA is great, but a lot of time it doesn't tell the whole story," Bejsovec said. Bejsovec and Horne suggest having prior internships in the field or joining their schools' real estate society or club as great ways to show a passion for real estate. Even better, if the intern was in the leadership for their school's real estate society as that indicates they have the right characteristics.Horne said that they're "laser-focused" on attributes, because "you can train the skills and the knowledge comes with reps." Resume keywords like real estate, leadership, networking, and analytics demonstrate that an applicant may have the attributes that the firm is searching for.<h2>Network with local CBRE brokers to gain an edge</h2>One way to have a better chance of selection is by networking with the local CBRE brokers and teams. Bejsovec said that many brokers would be glad to meet with potential interns, and that it could pay off with your application. CBRE has a referral tracking process for the intern program, which is a source of many of their applicants."This is a relationship-oriented business," Bejsovec said. "It's better for you to be known than to just send your application out there and hope it gets accepted." The application is kept open for a few months, and applicants should hear back with next steps in January. For those that move forward, the next step is a virtual interview: a pre-recorded interview with the students responding to a set of questions that they read off of their computer screen. This can be awkward, but the awkwardness is a feature, not a bug, as it can "show them in their element" while also overcoming "some adversity," Bejsovec said. The last step is an onsite "superday," where finalists come into their local office and interview directly with the teams they would potentially work for. This day is also where the recruiting team matches interns with the teams that make most sense for their interests by asset class. <h2>Internal networking is the X factor </h2>The internship can turn into a full-time role; 20% of interns were converted to full time in 2018. These offers are not always in brokerage, which Bejsovec said is a "tough place to start as a young person," and interns have been hired into research, valuations, and client management as well. Success at CBRE is, in many ways, typical to success in any setting. Bejsovec and Horne encourage students to make sure they come in on time and leave with the rest of the team, to ask questions and learn, and to do high-quality work. The X factor, same with the application, is an intern's ability to network outside of their direct team at CBRE, as many interns are actually hired onto teams other than the sales team. Bejsovec and Horne highlighted CBRE's affinity networks, like its military network, LGBT network, and women's network, as ways that interns have been able to make those valuable connections. The final group project is another way for interns to stand out. Ryan Gurman, a 2017 intern, won the Greater Los Angeles County/ Orange County contest with a pitch about a retail shopping center that CBRE was working on. The client actually followed through on Gurman's pitch, and Gurman was hired. He was awarded CBRE West LA's 2019 Rookie of the Year award.Even for those that don't get converted to full-time roles, Horne said that the program has built an "industry-level reputation," and alums are sprinkled among CBRE's competitors like JLL and Cushman and Wakefield, more boutique firms, private equity and VCs. Bejsovec credits the interns themselves, who have built relationships at the program that have gotten them jobs later on.

Here's how to land a spot in real-estate giant CBRE's ultra-competitive sales internship program that's harder to get into that Harvard

<ul><li>India’s working professionals can expect an average salary hike of nearly 9.7% in 2019. </li><li>Companies in India are projecting higher salary hikes in sectors including Consumer Internet Companies, Professional Services, Life Sciences, Automotive and Consumer Products sector. </li><li>The voluntary attrition rate has also declined in Indian corporates — from 18.5% in 2013 to 15.8% in 2018.</li></ul>Salary hikes in India may not be as attractive now as before, with fewer sectors giving out double digit hikes. However, there are at least five sectors that still project double digit<a href="https://economictimes.indiatimes.com/jobs/say-goodbye-to-double-digit-hikes-as-salary-budgets-mature/articleshow/68271421.cms"> increments</a> in salaries in 2019, according to the latest survey by Human Resource firm Aon Hewitt. These include consumer Internet companies, professional services, life sciences, automotive and consumer products sector. While the top skills fetching higher salary increment are big data analytics, digital cloud computing, artificial intelligence, cyber security and machine learning. Overall, India’s working professionals can expect an average salary hike of <a href="https://www.business-standard.com/article/companies/india-inc-employees-can-expect-a-salary-hike-of-9-7-this-year-report-119030501017_1.html">nearly 9.7%</a> in 2019, thanks to the narrowing increment budgets. While the top layer is expected to get a maximum increment of 15.6% based on performance and productivity. The report stressed that salary hikes have been descending from high double digits to significantly lower across many sectors and finally dropping down to single digit for most sectors. Owing to high domestic demand and low inflation, the increments projected in 2019 will be stable but still favourable at 9.7%, the report highlighted. Over the years, the voluntary attrition rate has also <a href="https://www.gadgetsnow.com/tech-news/salary-increments-likely-to-be-better-than-last-year-in-most-sectors-survey/articleshow/68280652.cms">declined</a> in Indian corporates — from 18.5% in 2013 to 15.8% in 2018. "The increment projections in other sectors are also a reflection of the expected growth prospects during the year. With government focus on infrastructure investment, sectors such as cement, metal, engineering services saw a revival in demand and an improvement in increment projections for 2019," said Aon. The report surveyed over 1,000 companies across more than 20 industries, has found that the salary increase ticked off double digit growth between 2010-2016, stabilizing at 9.3% in 2017. With the appraisal season around the corner, the companies are likely to announce salary hikes starting April. See also: <a href="https://www.businessinsider.in/campus-placements-at-iim-mdi-tiss-iift-see-salary-packages-above-2-million/articleshow/67898696.cms">India’s B-schools are seeing higher salary packages for graduates — and it’s not just IIMs</a> <a href="https://www.businessinsider.in/accenture-bcg-dominate-campus-placements-at-business-schools-in-india/articleshow/68045145.cms">Consulting firms Accenture, BCG dominate campus placements at India’s B-schools this year</a> <a href="https://www.businessinsider.in/a-whopping-40-of-indias-women-engineers-dont-have-jobs-because-of-rampant-sexism-at-workplace/articleshow/67486684.cms">A whopping 40% of India's women engineers don't have jobs because of 'rampant' sexism at workplace</a>

These 5 sectors are the only ones projected to see double digit salary hikes this year

<ul class="summary-list"><li>In a proposal released Monday, the <keyword id="73593" type="ORGANIZATION" weightage="60" keywordseo="University-of-California">University of California</keyword> President <keyword id="196640" type="PERSON" weightage="60" keywordseo="Janet-Napolitano">Janet Napolitano</keyword> recommends suspending the requirement that undergraduate applicants take either the <keyword id="6379242" type="UNKNOWN" weightage="60" keywordseo="SAT">SAT</keyword> or <keyword id="6556" type="PERSON" weightage="60" keywordseo="act">ACT</keyword>. </li><li>Under the proposal, the University of California would develop a standardized admissions test of its own, to be deployed in 2025.</li><li>Critics argue — and research shows — that standardized tests favor students from families wealthy enough to pay for test preparation.</li><li>Over 1,200 colleges and universities have dropped <keyword id="3540818" type="PERSON" weightage="60" keywordseo="standardized-testing">standardized testing</keyword> requirements for fall 2021, according to the National Center for Fair and Open Testing.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul>Students may no longer need to take a standardized test to get into one of California's public universities — at least until the state comes up with a standardized test of its own.In a proposal released Monday, the University of California President Janet Napolitano recommended suspending the requirement that undergraduate applicants take either the SAT or ACT. The UC system already suspended that requirement for all fall 2021 applicants. Under Napolitano's plan, to be taken up by the UC Board of Regents, the requirement would be suspended all the way until 2025, after which "a new, UC-based test would be required."Applicants could still voluntarily submit test results, but beginning in 2023 test scores would impact course placement and scholarships, not admission. A new test, created in consultation with "K-12 educators, test experts, the California State University, and UC faculty" would be required in 2025 — but, if not ready, the state would drop standardized testing altogether.The proposal comes after the UC Academic Senate, composed of UC faculty, voted to keep current standardized testing requirements for the next five years until an alternative is developed, the <a href="https://www.latimes.com/california/story/2020-05-11/napolitano-says-suspend-the-sat-test-for-uc-admissions">Los Angeles Times reporte</a>d. Nevertheless, "The Senate is pleased that the president's recommendations are in line with the spirit of our recommendations," Chair Kum-Kum Bhavani told the paper.In October 2019, a coalition of school districts and organizations representing "historically marginalized" communities <a href="https://www.documentcloud.org/documents/6531854-SAT-Demand-Letter-to-UC-20191029.html">sent an open letter</a> to UC Regents demanding it immediately halt the use of "either SAT or ACT scores in order to be considered for admission to any campus." The groups argued that the test requirement constituted "unlawful discrimination on the basis of race, disability, and wealth."The letter was followed by litigation alleging the same. As <a href="https://www.nbcnews.com/news/education/california-lawsuit-blasts-sat-act-exams-discriminatory-n1099416">NBC News reported</a>, a 2015 study found "that the lowest average SAT scores aware among students from families who made less than $20,000 a year, while the highest were among students from families who made more than $200,000" — a product, in part, of ability, or lack thereof, to pay for tutoring in preparation for the exam.Over 1,200 colleges and universities have dropped standardized testing requirements for fall 2021, according to the National Center for Fair and Open Testing. As <a href="https://www.washingtonpost.com/education/2020/04/10/sat-act-2021-coronavirus/">The Washington Post reported</a>, nearly 50 schools dropped testing requirements between September 2018 to September," but, in the wake of COVID-19, "the pace of such decisions has rapidly increased this year."Neither The College Board nor ACT, Inc., the nonprofits responsible for current standardized admissions tests, immediately responded to requests for comment.Have a <keyword id="6355005" type="UNKNOWN" weightage="100" keywordseo="news">news</keyword> tip? Email this reporter: <a href="mailto:cdavis@insider.com">cdavis@insider.com</a>Read the original article on <a href="https://www.businessinsider.com/university-of-california-may-drop-standardized-testing-requirements-2020-5">Business Insider</a>

University of California president recommends suspending SAT or ACT test requirement until 2025

<ul><li>Cognizant’s CFO Karen McLoughlin said that the IT major will further streamline costs in its core business. </li><li>This includes the cost of revenue — <keyword id="880527" type="PERSON" weightage="20" keywordseo="employee-costs">employee costs</keyword>, equipment cost, and the cost incurred in production and distribution of services. </li><li>This comes after the IT major announced it will trim senior management roles. </li><li>McLoughlin says TCS is better at cost management. </li><li>“I'm not sure we will ever get to the levels of a TCS. They do a remarkable job on that and driving margins,” Karen McLoughlin said in a conference.</li></ul>American IT multinational Cognizant recently announced that it will <a href="https://www.businessinsider.in/business/corporates/news/cognizant-is-reportedly-planning-to-sack-400-in-senior-management/articleshow/76025443.cms#:~:text=Cognizant%20is%20reportedly%20planning%20to%20sack%20400%20in%20senior%20management,pay%20reduced%20to%20three%20months&amp;text=IT%20major%20Cognizant%20is%20planning,according%20to%20a%20TOI%20report.">trim senior management roles</a> in the company as a <keyword id="44572" type="PERSON" weightage="20" keywordseo="cost-cutting">cost cutting</keyword> measure. It also offered a voluntary separation package to its bench employees in the US. In fact for the several employees, the company also reduced the severance pay to three months instead of five months, along with one week pay for all the years of service. But, that is not all. Addressing the Bernstein conference last week, Cognizant’s CFO Karen McLoughlin reportedly said that the IT major will further streamline costs in its core business. This includes the cost of revenue — employee costs, equipment cost, and the cost incurred in production and distribution of services. “I'm not sure we will ever get to the levels of a TCS. They do a remarkable job on that and driving margins,” Cognizant reportedly said And it’s inspiration is none other than Tata Consultancy Services (TCS). <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Fourth quarter revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total employees </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Plan to hire freshers in 2020 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jan-Mar’20 operating margin </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cognizant </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹80,359 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">292,500 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">20,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13.7% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consultancy Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹92,322 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">448,464 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">39,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">25.1% </td></tr></tbody></table>*Cognizant follows January-December financial year In fact, McLoughlin said that Tata Consultancy Services (TCS) is better managing costs and margins and Cognizant is still behind them, for that matter. “As that business (legacy) has matured, the reality is it needs less investment than it did five, ten years ago. I think the pivot we have to make is how do we think about the cost structure on that part of the business,” ET <a href="https://economictimes.indiatimes.com/tech/ites/cognizant-cfo-signals-further-cost-cuts-says-tcs-good-at-cost-management/articleshow/76198758.cms">reported</a> citing her speech at the conference. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[<div class="flourish-embed flourish-chart" data-src="visualisation/2720451" data-url="https://flo.uri.sh/visualisation/2720451/embed"></div>]]></cdata></div> Its revenue for the fourth quarter stood at ₹92,322 crore. According to TCS annual report 2019-20, the company’s employee cost stood at ₹64,906 crore — that accounts for <a href="https://www.tcs.com/content/dam/tcs/investor-relations/financial-statements/2019-20/ar/annual-report-2019-2020.pdf">49.4% of the revenue. </a> For IT giants, wages, employee costs and campus placement drives make up for over half of its operational costs. TCS employed 448,464 people in FY20. While cognizant has 292,500 people in the workforce. <keyword id="123591" type="PERSON" weightage="20" keywordseo="Work-from-home">Work from home</keyword> to cut costs To maintain margins, the IT majors are implementing work from home for its employees — even after the coronavirus situation normalises. <a href="https://www.businessinsider.in/tech/enterprise/news/three-ways-tcs-infosys-and-other-it-giants-in-india-are-trying-to-cut-costs-but-its-not-going-to-increase-their-profitability/articleshow/76021884.cms">TCS CEO Rajesh FGopinathan said</a> only one fourth of the employees working on a project will be present at a place at one time. This will also cut down the travel and infrastructure cost for the company. Cognizant shifted nearly 70,000 desktops to employees’ homes and may also move to free up the commercial places from where these employees used to work, ET <a href="https://economictimes.indiatimes.com/news/company/corporate-trends/office-realty-set-to-shrink-as-wfh-becomes-reality/articleshow/75767876.cms?from=mdr">reported</a>. See also: <a href="https://www.businessinsider.in/stock-market/news/phoenix-mills-brigade-and-prestige-share-price-defer-rentals-as-malls-reopen/articleshow/76209910.cms">Phoenix Mills defers rentals for retailers as investors cheer the reopening of malls</a> <a href="https://www.businessinsider.in/business/news/mubadala-to-buy-1-85-pc-stake-in-jio-platforms-for-rs-9093-6-cr/articleshow/76205654.cms?upcache=2">Reliance Industries market value crosses ₹10 lakh crore thanks to Jio's deal with Mubadala</a> <a href="https://www.businessinsider.in/thelife/personalities/news/biocons-kiran-mazumdar-shaw-who-debuted-in-the-pharma-industry-with-two-employees-and-500-becomes-ey-world-entrepreneur-of-the-year-2020/articleshow/76208199.cms">Biocon’s Kiran Mazumdar Shaw, who debuted in the pharma industry with two employees and $500 becomes EY World Entrepreneur of the Year 2020</a>

Cognizant is taking inspiration from TCS in trying to tame costs

<ul><li>According to the report, <keyword id="729521" type="PERSON" weightage="20" keywordseo="Indian-Engineers">Indian engineers</keyword> still lag the relevant digital skills that companies nowadays are looking to hire for </li><li>This includes advanced tech skills such as artificial intelligence, machine learning, data science and wireless technologies among others </li><li> Merely 2.5% of engineers in India possess skills in artificial intelligence while only a handful of engineers (5.5%) are qualified with basic programming, the report assessed. </li></ul>While the Indian government and IT firms have been busy launching various programs to bring emerging tech skills in the country, the state of employability among the latest graduating class of engineers remains in question. The ‘<a href="https://www.aspiringminds.com/research-reports">National Employability Report for Engineers 2019</a>’ put out by a job assessment platform Aspiring Minds, has shown that over 80% of engineers in India are unfit to take up any job in the knowledge economy. According to the report, Indian engineers still lag the relevant digital skills that companies nowadays are looking to hire for. This includes advanced tech skills such as artificial intelligence, machine learning, data science and wireless technologies among others. Merely 2.5% of engineers in India possess skills in artificial intelligence while only a handful of engineers (5.5%) are qualified with basic programming, the report assessed. This means, overall, only <a href="https://www.indiatoday.in/education-today/news/story/over-80-indian-engineers-are-unemployable-lack-new-age-technology-skills-report-1483222-2019-03-21">1.5% of engineers in India </a>have the required skills for new-age jobs. The findings match other reports about the <a href="https://www.businessinsider.in/india-has-a-booming-artificial-intelligence-sectorand-its-struggling-to-fill-over-4000-vacant-positions/articleshow/67154961.cms">shortage</a> of digital skills in India. The emerging sector has nearly 4,000 vacant jobs in India due to lack of qualified talent. This may be because of the education system imparting theory-based knowledge. The data collected has revealed that only 40% of the total graduate engineers opt for internships for hands on experience with 36% taking up projects other than their coursework. While 47% of students attend industry talks to boost their knowledge. "We find that a low proportion of engineers take up projects beyond curriculum and do internships. Also, there is a lack of faculty talking about industry application of concepts in class or students getting exposure through industry talks," Varun Aggarwal, Chief Technology Officer and co-founder Aspiring Minds told PTI. The report analysed engineers across India, China and the US. As per the conclusions drawn, US job applicants were found to be ahead of Indians in terms of good <a href="https://www.theweek.in/news/sci-tech/2019/03/21/knowledge-economy-Over-80-pc-Indian-engineers-lack-employability-skills.html">coding skills</a>, while China and India compete almost at the same levels. See also: <a href="http://v">Google will groom these 10 Indian startups that use AI and machine learning</a> <a href="https://www.businessinsider.in/google-will-groom-these-10-indian-startups-that-use-ai-and-machine-learning/articleshow/68384856.cms">These core subjects are the biggest winners in IIT-Delhi's record campus placement season</a> <a href="https://www.businessinsider.in/ai-cloud-computing-machine-learning-cyber-security-among-top-skills-for-higher-salary-increment-in-2019/articleshow/68281010.cms">These 5 sectors are the only ones projected to see double digit salary hikes this year</a>

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