For instance, Vishal was being offered around Rs.6 lakh per annum, as a contract employee working for Wipro. Although he was offered a hike of around 40 percent by Wipro, he still left the firm as he was offered a 100 percent hike at its rival, Accenture. With the economy reviving, companies are willing to pay double the salary as they compete to hire the best.
At this point it might seem like Accenture has scored a point over Wipro. But, while Accenture may have gained with this hiring, the truth remains that the attrition rate at this firm is also very high. According to a top official at Accenture who wished to remain anonymous, the firm recently standardized the salaries of all its employees, over which it is offering a 40 percent hike. Yet the IT firm is losing its employees, as other IT biggies offer a 100 percent hike.
The ‘Hiring Outlook’ survey conducted by job portal Naukri.com among over 800 recruiters, revealed that over 70 percent recruiters in IT, ITeS, auto, telecom, banking and pharma predicted robust hiring in 2010, while 82 percent recruiters said that professionals with one to eight years experience would be in demand.
But this hike is not for all. It is especially being offered to mid level executives with around three to six years experience, in demand for their specialized skill sets like Java, Dot Net and Oracle Database. According to Tuhin Chatterjee, a former Project Manager at Satyam Computers, while there are enough engineers with such specialized skills, not all are employable.
Neelabh Shukla, who manages the mid level hiring at CareerNet Consulting agrees. "What is lacking in these ‘could be potential employees’ is the conceptual clarity. So although they may have done a course in Java, companies prefer to go for experienced professionals, as they are looking to build a matured workforce," says Shukla. In fact, with U.S. firms continuing to outsource most of their work, it is the Java programmers who are in top demand.
Another reason for the hikes being offered is that, most employees did not receive their appraisals last year due to recession. Now that the demand supply equation is changing, employees feel more comfortable in demanding a double digit hike, says Shukla.
Employees also prefer to opt for lateral hiring instead of a contract based hiring. While contract based hiring was never a very popular trend in India, companies during recession mainly benefited through this mode of hiring. But now that the employment situation is reversing, it is the turn of the employees to act pricey.

The solution provides the functionality like inventory analysis, validation and remediation. Wipro has deployed this desktop deployment solution to over 20 large and mid-sized enterprises and the company said that it has seen more than 20 percent cost benefits for the customers, reports PTI.

Following the placement, in an interview to Economic Times, Mathur said, "It was completely unexpected. I couldn’t prepare much in advance, but brushing up the basics helped a lot." Both these students will be flying off to London next July for the Graduate Analyst Training Programme, where they will interact with several other students from across the globe.
This year, the placement scenario in Indian universities is much better than what it was last year. Last year, around 25 companies came with jobs but this year the college is expecting more than 35 companies. In the current session, DU has also introduced online registration system for those who desire to be placed. More than 8,000 students have registered with Central Placement Cell (CPC) so far.
Apart from this, SRCC has placed 40 undergrads and 14 post graduate students from its Global Business Operations course. At SRCC, where last year the minimum salary an undergraduate student was expecting was Rs.2.2 lakh per year and a post-graduate student could look at Rs.4 lakh, this year, the figure has doubled. About 20 students from the college have already been hired by several companies. Similarly, 20 final year students of St. Stephen’s College have received job offers from reputed multinational financial companies like McKenzie and Bain Capital. Four students have got offers of Rs.11.5 lakh per annum each at McKenzie, while four were absorbed by Bain Capital at a salary of Rs.7.5 lakh per annum each.
Dr. PC Jain, Principal, SRCC, said, "We are not entertaining companies that are not offering good salaries. In this regard, we have already rejected the offer of two very good companies. It is expected that every student of SSRC will get two job offers before January."
Meanwhile, students from other colleges of the DU are also hoping for good placement offers this year. While 11 undergraduate Commerce students of Hans Raj College were hired by VKS, an affiliate of the United Bank of Switzerland, with salaries of about Rs.4.5 lakh per annum each, 81 students have been shortlisted for interviews by Google. Institutes like Kirori Mal College (KMC), Daulat Ram, Hindu and Ramjas too have good companies lined up with jobs for students.

The worldwide IT spending is on pace to decline 5.2 percent this year. However, the IT industry will return to growth in 2010, with IT spending forecast to total $3.3 trillion, a 3.3 percent increase from 2009, according to research firm Gartner. In Asia Pacific, IT spending is expected to grow by five percent to reach $515.6 billion in 2010.

Peter Sondergaard, Senior Vice President at Gartner and Global Head of Research, said that this represented a fast V-shaped recovery for IT spending in the region. Emerging regions will resume strong growth, he said. By 2012, the accelerated IT spending and culturally different approach to IT in Asia will directly influence product features, service structures and the overall IT industry.
However, growth varies considerably by country, vertical market and IT sector. Sondergaard said that while software would post the strongest growth in Asia Pacific, telecommunications still represented the largest area of IT investment.
In Australia, the five-year outlook for enterprise IT spending is a compound annual growth rate of 1.3 percent, with total IT spending by Australian businesses to reach Australian dollar 56.4 billion by 2013. The vertical sectors with the highest IT spending growth would be communications (3.2 percent), healthcare (2.6 percent) and utilities (2.3 percent). While IT spending will increase next year, Gartner cautioned IT leaders not to be overly optimistic.
"While the IT industry will return to growth in 2010, the market will not recover to 2008 revenue levels before 2012," said Sondergaard. 2010 is about balancing the focus on cost, risk, and growth. For more than 50 percent of Chief Information Officers the IT budget will be zero percent or less in growth terms. It will only slowly improve in 2011, he added.
Sondergaard said that the three most-searched terms by Gartner clients on gartner.com provide some clues as to the priorities of IT leaders around the world. Cost remained the most-searched term during 2009, although it peaked in May, followed by cloud computing. "Next year will be the year when cloud computing moves from the discovery phase to small pilots, as part of organizations’ desire to move from owned to shared IT," he said.
The third most-searched terms on gartner.com were business applications such as enterprise resource planning (ERP) and customer relationship management (CRM). "We believe that 2010 will see increased focus on optimization of business processes linked to software applications, what we call application overhaul. That is what will drive growth in the software segment," Sondergaard said.

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An official from Union Bank said, "Banks were considering increasing the commercial real estate loan rates by 50-100 basis points to pass their burden of maintaining higher provisions to the customers. This (high provisioning) will really impact the credit flow to the real estate sector and will leave no option to banks but to increase their lending rates on commercial real estate loans by 0.5 percent to one percent."
In the quarterly review of the annual monetary policy on October 27, RBI Governor, D Subbarao asked banks to increase the provisions for commercial estate loans from current 0.4 percent to one percent of the loan.
In its review, RBI did not tweak its key interest rates. It however increased the statutory liquidity ratio (SLR) by 100 basis points to 25 percent.

Many of the two million-odd residents of Uttar Pradesh’s Basti district, some 300 km from state capital Lucknow, have collaborated to prepare the one-km long invitation letter for President Obama. They want the US president to visit the district and address them.
"His speeches are known for inspiring hope and cooperation. We too want to hear him and therefore we have prepared this letter," Alok Kumar Mishra, a native of Basti and former post-doctoral fellow in psychology at the All India Institute of Medical Sciences (AIIMS), who conceptualised the letter, told IANS on phone.
"The letter has been prepared mainly by joining fax paper rolls end to end," added Mishra, also a member of the Juvenile Justice Board, Delhi.
According to locals, the invitation letter contains text in different languages, carries photographs of the U.S. President and also has decorative designs.
"People have used the language in which they felt comfortable to express themselves. While some have used English, others have written their ideas in Hindi, Awadhi and even Urdu," said Maneesh Kumar, a local, who is pursuing his B.Sc. from a college in Basti.
"In the invitation, I have urged the US president to guide youth and motivate them to join politics as I feel, particularly in India, politics is believed to be a profession of corrupt people," he added.
Asked how the letter was written, Mishra replied: "Initially, after purchasing the paper rolls, they were cut into smaller sizes and distributed amongst the locals. After individuals had expressed their thoughts, the papers were collected and glued together."
Locals say they started writing the letter in February.
"Initially, when we planned to undertake the exercise, only a handful of people were willing to join us. However, after seeing our project turning into a reality, more and more people came forward to assist us," said Kaushal Kishore, a student of Class 12.
For dispatching the letter to the U.S. President, Mishra has approached the district authorities, asking them to hold talks with officials in the external affairs ministry.
"The letter needs to be handled with care, even slight carelessness can damage it. We have asked the district administration to talk with officials of the government of India for delivering the letter," Mishra said.