Cognizant, a major player in the IT industry, is currently facing criticism after a job listing offering a starting salary of just ₹2.52 lakh per annum for freshers went viral. This backlash comes in stark contrast to the hefty compensation package received by the company’s CEO, Ravi Kumar Singisetti, who earned $22.56 million (approximately ₹186 crore) in 2023, making him the highest-paid CEO in India’s IT sector.
Ravi Kumar Singisetti, 52, took the reins as CEO of Cognizant in January 2023. A significant portion of his compensation last year came from a one-time stock award valued at $20.25 million (around ₹169.1 crore). According to a report by Mint, his earnings stand at an astounding 556 times the median salary of Cognizant employees.
cognizant offering 2.25 lpa to recent graduates while the ceo’s salary is 186 crores, making him the highest salaried ceo in India.
and they were offering the same ‘exciting’ 2.25 lakhs two decades back as well.
why can’t we have minimum wage criteria in all the sectors?
— Swastika Yadav (@swastika0015) August 13, 2024
The revelation of Singisetti’s enormous pay package has intensified the criticism following the release of the job listing, which many have deemed “unlivable.” The listing, which was shared widely on social media, offered fresh graduates a starting salary of ₹2.52 lakh per annum—a figure that social media users quickly criticized as insufficient, especially in metro cities.
One user on the social media platform X (formerly Twitter), Swastika Yadav, highlighted the disparity, stating, “Cognizant offering 2.25 LPA to recent graduates while the CEO’s salary is ₹186 crores, making him the highest salaried CEO in India.” Yadav also questioned why there isn’t a minimum wage standard across all sectors.
The job listing, which invited applications from the 2024 batch with a deadline of August 14, was met with widespread disapproval. Social media users calculated that freshers would take home between ₹18,000 to ₹19,000 per month after deductions—an amount deemed insufficient to cover basic living expenses.
Another user pointed out the stagnant nature of the salary being offered, stating, “MNCs have seen revenues increase from millions to billions to trillions. But they are offering the same package to freshers as they did 20 years ago, without even adjusting yearly appraisals to match inflation or rising housing costs.”
As the debate continues online, Cognizant has yet to issue a public response to the criticism surrounding its entry-level salary offerings. The controversy underscores ongoing concerns about wage disparity and the cost of living in India’s rapidly evolving job market.