TCS to Hire 40,000 Fresh Graduates This Year and Boost Salaries by 4.5-7%
Tata Consultancy Services (TCS) plans to recruit 40,000 fresh graduates this year, as announced by Chief HR Officer Milind Lakkad. Alongside this hiring push, TCS will implement a salary increase of 4.5-7%, with high performers receiving up to 10-12%.
In an interview with CNBC, Lakkad emphasized India’s continued significance in the global talent market, despite skill demands and geopolitical uncertainties. “India remains a key destination for talent, and that won’t change in the near future,” he stated.
The announcement aligns with TCS’s broader recruitment strategy amidst global IT sector shifts. In the June quarter alone, TCS added 5,452 new positions, growing its total workforce to 606,998.
Lakkad expressed confidence in India’s talent pool and addressed concerns about AI’s impact on employment, noting the adaptability of TCS employees.
TCS has also enhanced its career-growth initiatives with the Elevate Runway program, which offers accelerated learning paths and opportunities for significant compensation increases. Over 400,000 employees have participated in this program.
The Mid-Level Transformation (MLT) program provides skills development, and TCS has revised its pay policy to emphasize office attendance as a key factor.
Earlier, TCS reported a net profit of ₹12,040 crore for the first quarter of FY25, a 9% increase from ₹11,120 crore in the same period last year. Approximately 70% of employees have returned to the office under the new policy, which aims to positively incentivize office attendance rather than penalize employees. Lakkad noted, “We are pleased with the 70% return rate. This measure is designed to encourage office attendance positively, not as a punishment.”