New Delhi: Indian tech giant Infosys has confirmed to give a salary hike of 10-13% to its many employees depending on the performance. Some of the top performers have received a salary hike of 20-25%. Increment will definitely sweep a wave of happiness among the Infosys employees, especially when India’s big festival is around the corner. However, the Increment was dependent on an employee’s grade and the senior management received low hike as their salaries were higher.
IT giant Cognizant hikes annual compensation for its staff
IT giant Cognizant has chosen to implement annual compensation increases for its staff, following in the footsteps of Tata Consultancy Services (TCS), Infosys, and Wipro. According to those with knowledge of the situation, Cognizant employees may receive an average compensation boost of up to 10% this year.
TCS announces 100% variable pay
TCS announced that 70% of the workers will earn 100% variable pay, starting the holiday spirit early. Additionally, the performance of the remaining 30%’s business units will determine how much they are paid.
Earlier, Thierry Delaporte, CEO and Managing Director of Wipro, said the company will pay out 100 per cent of variable pay to 85 per cent of its employees for the second quarter of financial year 2023. Speaking at a press meet following the second quarter results, he also said the company has promoted more than 10,000 employees and increased salaries across bands.
