EPAM Systems stands as a prominent global player in software engineering and digital transformation services. This blog post explores its journey from a small startup to a major industry force, covering its foundation, ownership, company culture, and opportunities for professionals and new graduates.
The Foundation of a Global Tech Leader
EPAM Systems was
co-founded in 1993 by Arkadiy Dobkin and Leo Lozner, who had been friends since
grade school. The company began its operations simultaneously in Princeton, New
Jersey, and Minsk, Belarus, with just three employees. This dual-shore approach
was a foundational element of its business model.
Initially, the company
grew through bootstrapping, relying on the founders' own resources and revenue
from early projects rather than significant external funding. Key early
milestones that shaped its trajectory include securing Colgate-Palmolive as a
client in 1996 and SAP AG in 1997, which helped solidify its reputation.
Ownership and
Market Presence
EPAM Systems is a
U.S.-domiciled public company that executed its Initial Public Offering (IPO)
on the New York Stock Exchange (NYSE) in 2012 under the ticker symbol EPAM.
The company's
ownership is predominantly held by institutional investors, which accounted for
approximately 95% of its shares as of September 2023. The remaining shares are
held by the company's management and employees. Key institutional shareholders
include major financial firms like Capital Research Global Investors, The
Vanguard Group, and BlackRock.
Employee Policies
and Work Culture
EPAM fosters a work
environment that emphasizes flexibility, integrity, and continuous growth. The
company's official Code of Ethical Conduct is built on principles of respect
for people and integrity in all business operations.
Key aspects of its
workplace policies include:
- Flexible Work Environment The company
supports a casual work atmosphere with remote and hybrid work models
available to employees.
- Diversity and Inclusion EPAM has
dedicated diversity and inclusion staff and supports various employee
resource groups to foster a welcoming environment for all.
- Career Growth A "promote from
within" philosophy encourages internal career progression, supported
by numerous professional development programs.
- Community Involvement EPAM encourages
its employees to volunteer in local communities and partners with various
nonprofit organizations.
Comprehensive
Employee Benefits
EPAM offers a robust
benefits package designed to support the financial, physical, and mental
well-being of its employees and their families.
|
Benefit Category |
Details |
|
Financial &
Retirement |
Includes a 401(k)
plan with a company match (100% on the first 2% of compensation and 50% on
the next 4%), an Employee Stock Purchase Plan (ESPP) with a discount, and
performance bonuses . |
|
Health &
Wellness |
Comprehensive
health, dental, and vision insurance are provided, along with life and
disability insurance. Additional wellness perks include mental health
benefits, pet insurance, and access to a company physician . |
|
Paid Time Off |
Employees receive
flexible time off, paid sick days, paid holidays, and paid time for
volunteering . |
|
Family & Leave |
The company provides
a Dependent Care Flexible Spending Account, family medical leave, and
return-to-work programs after parental leave. It also hosts family-friendly
events . |
|
Professional
Development |
EPAM invests heavily
in employee growth through tuition reimbursement, mentorship programs,
language courses, and access to job training and professional
conferences . |
|
Office Perks |
For on-site
employees, benefits like commuter assistance and relocation support are
available . |
Employment and
Career Opportunities
EPAM is consistently
hiring for a wide range of roles across the technology spectrum, with thousands
of job openings often listed on its career portal. The company offers dynamic
career paths and opportunities to learn from industry leaders within a global
network. Its resilience was notably demonstrated during the geopolitical crisis
in Ukraine, where it successfully relocated thousands of employees while
ceasing operations in Russia.
Opportunities for
Freshers and Graduates
EPAM has dedicated
programs aimed at nurturing the next generation of tech talent. In India,
the EPAM Center of Excellence (CoE) program is a "train the
trainer" initiative designed to prepare university students for the
industry. This program equips faculty members to teach in-demand skills across
five streams:
- Java
- .NET
- Front-end Development
- Test Automation
- Cloud and DevOps
High-performing
students from these programs have the opportunity to join EPAM's professional
talent pool. The company also offers free training programs for aspiring
developers, such as the .NET Development Mentee program, to create a pathway
into the tech industry.
Future Outlook
EPAM is strategically
focused on high-growth areas like Artificial Intelligence (AI) and Digital
Transformation. The company continues to enhance its AI-powered engineering and
consulting services to meet evolving market demands.
Analysts project
continued growth for the company, with forecasts predicting an annual earnings
growth of 11.6% and revenue growth of 7.3%. The company's revenue outlook for
fiscal year 2024 was anticipated to be between $4.575 billion and $4.675
billion, with long-term forecasts showing a steady upward trend through 2027.
EPAM's history of strategic acquisitions, such as Continuum Innovation for
consulting and Alliance Global Services for expanding its U.S. presence,
indicates a continued commitment to growth and market expansion.