It’s not brands of pay package that attract career-conscious youngsters, it’s the profile that seals the deal

What is the most compelling factor for saying yes to a job offer? More that compensation and brand it seems to be the job profile that clinches the deal, according to careerNet campus compensation and student perception survey 2008.

At a media briefing on Friday, CareerNet consulting CEO Rishi Das said that of the over 2200 students surveyed, more than half (56 per cent) felt that job satification and recognition influence employee the most to stay beyond a year in an organization.
For 45 percent of the subjects, integrity and hard work are most important ingredients for success, while 40 percent of the subjects feel that smart work and networking leads to success.

Fixed cash is the most important part of compensation for 65 percent of the students. Product companies are the preferred employers for 39 percent of the student sample.

For 57 percent of students, job profile is the deciding factor for accepting an offer on campus, while 21 percent prefer to go with well-known brands and 10 percent decide based on compensation alone, the survey found.
Bangalore is the preferred destination for jobs followed by Delhi/NCR, Chennai comes in third. Job domain too is important, the respondents said -54% of then have managed to find jobs in their preferred domains.

KEY FINDINGS

A jump of 17.6 percent in entry level salaries across domains has been seen in the last year. The average compensation for a fresher is Rs. 2,74,000 in IT services companies compared to Rs. 4,63,000 in IT product companies. Nearly 17 percent of those surveyed said they had landed jobs with salaries above RS. 5,00,000 per annum. Surprisingly, 59% students had declined an offer due to service bond and low-end work.
On a average, M Tech graduates are padi 13.5 percent more than B tech graduates. In product companies, the average compensation is highest for and R and D profile.
Employee reltention continues to be biggest challenge companies face- 12 percent of the surveyed companies offer retention bonuses ranging between Rs. 50000 (for one year) and Rs. 200000 (for two years).
“The survey offers an insight into campus recruitment processes and salary trends across various domains and sectors. The student perception survey presents the student’s perspectives on campus recruitments. The findings could prove to be valuable feedback for corporate. They could be key to strengthening the work culture and value system with in organization, resulting in positive influence at the workplace and in curtailing attrition too,” Das said.

Source: Bangalore Mirror