IT companies using bonds to retain freshers

MUMBAI: With IT firms spending, on an average, a few lakh on a single engineering graduate during their training period, it is becoming more and more common for graduates to pay their employers to safeguard that investment.

Leading IT companies like Wipro, Satyam, Infosys, and TCS increasingly insist on a bond to ensure that the investment made in their employee is secure.

“We make huge investments, both in terms of money and time, on our new recruits. For example , last year alone we spent $175 million on training them. Keeping this in mind, we want to ensure the full benefit of such training imparted and hence the need for bonds,” said an Infosys spokesperson.